Sino Prima Gas Technology Co Ltd

On the evening of August 23, multiple A-share companies disclosed their half-year reports, with earnings doubling or even growing severalfold. Shouhua Gas achieved first-half operating revenue of 1.747 billion yuan, up 30.52% year on year, and net profit attributable to shareholders of the listed company of 187 million yuan, up 2131.55% year on year. Dinggu Jichuang reported first-half net profit attributable to the parent of 106 million yuan, up 1678.13% year on year, mainly due to a fair value change gain of 141 million yuan recognized on its 6.22% stake in Hangju Technology. Wankai New Materials posted first-half net profit attributable to the parent of 562 million yuan, up 910.09% year on year, with gross margin for bottle-grade PET products rising to 9.64%. China Tungsten and Hightech Materials reported first-half net profit attributable to the parent of 2.076 billion yuan, up 280.53% year on year, with revenue growth driven mainly by higher prices for tungsten-related products. Yuegui Co., Ltd. posted first-half net profit attributable to the parent of 663 million yuan, up 182.76% year on year, while revenue from new energy materials surged 1252.68% year on year to 423 million yuan. Vanadium and Titanium Resources and Zhiguang Electric successfully turned losses into profits in the first half, reporting net profit attributable to the parent of 221 million yuan and 44 million yuan respectively. As of the evening of August 23, more than 1,700 A-share companies had completed their half-year report disclosures, with 60% of them posting year-on-year net profit growth and 18.8% doubling their net profit.

Shouhua Gas disclosed its 2026 semi-annual report. First-half net profit attributable to the parent company was 187 million yuan, a sharp year-on-year increase of 2131.55%. The company achieved operating revenue of 1.747 billion yuan in the first half, up 30.52% year on year, mainly due to increased production at the Shilouxi block and higher output from external gas suppliers. The gross margin of the natural gas business was 25.31%, up 11.72 percentage points from the same period last year, nearly doubling. The company produced 588 million cubic meters of natural gas in the first half, up 39% year on year, and sold 801 million cubic meters, up 25% year on year. Second-quarter net profit attributable to the parent company was about 133 million yuan, up about 149.6% quarter on quarter. The company is also advancing restricted stock and stock appreciation rights incentive plans, granting 4.3424 million restricted shares to 35 incentive recipients and 5.89 million stock appreciation rights to 11 incentive recipients, with both the grant price and exercise price set at 9.87 yuan per share.

Shouhua Gas has disclosed the draft of its 2026 stock appreciation rights incentive plan and the draft of its 2026 restricted stock incentive plan. The company plans to grant two types of equity instruments—stock appreciation rights and restricted stock—to directors, senior management, and core employees, totaling 13.0155 million units. Of these, the stock appreciation rights plan proposes to grant a total of 7.3625 million units, representing 1.91% of the company's total share capital at the time of the announcement, with an initial grant of 5.89 million units at an exercise price of 9.87 yuan per share, covering no more than 11 participants. The restricted stock incentive plan proposes to grant a total of 5.6530 million shares, representing 1.47% of the company's total share capital at the time of the announcement, with an initial grant of 4.5224 million shares at a grant price of 9.87 yuan per share, covering no more than 37 participants. The company-level performance assessment targets for both plans are based on 2025 net profit. For 2026, the net profit growth rate target is no less than 10%, with a trigger value of no less than 8%. For 2027, the growth rate target is no less than 20%, with a trigger value of no less than 16%. For 2028, the growth rate target is no less than 30%, with a trigger value of no less than 24%. Both incentive plans are valid for a maximum of 48 months from the date of the initial grant and are subject to approval by the shareholders' meeting before formal implementation.