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Hunan Huakai Cultural and Creative Co Ltd

Huakai Yibai Technology Co., Ltd., together with its subsidiaries, provides environmental art design services in China and internationally. It offers cultural theme space display systems for large indoor spaces such as exhibition halls and showrooms. The company is also involved in cross-border export e-commerce, information technology services, supply chain and enterprise management services, and exhibition setup projects. Formerly known as Hunan Huakai Cultural and Creative Co., Ltd., it changed its name to Huakai Yibai Technology Co., Ltd. in April 2022, was incorporated in 2009, and is headquartered in Changsha, China.

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Huakai Yibai's 2026 interim report shows net profit of 165 million yuan

Huakai Yibai released its 2026 interim report. Total operating revenue was 3.976 billion yuan, down 12.38% from the same period last year, and net profit attributable to the parent company was 165 million yuan. Net cash inflow from operating activities was 321 million yuan, down 12.77% year on year. The company's latest asset-liability ratio was 39.37%, gross margin was 38.74%, ROE was 6.94%, and diluted earnings per share was 0.43 yuan. The number of shareholders was 15,800, and the top ten shareholders held 53.51% of total share capital.
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Huakai Yibai Plans to Acquire at Least 51% Stake in NEEQ-Listed Wanhe Technology for Cash

Huakai Yibai plans to acquire no less than a 51% stake in NEEQ-listed Wanhe Technology for cash and gain control. The preliminary valuation of Wanhe Technology's entire equity is between 700 million and 900 million yuan. The deal includes a performance commitment of cumulative non-recurring net profit of no less than 240 million yuan over three years, with cumulative non-recurring net profit from relevant businesses of no less than 150 million yuan, and overall non-recurring net profit of no less than 60 million yuan in 2026. Wanhe Technology's main business covers radio frequency technology products and services, and electronic component distribution. In 2025, its revenue was 995 million yuan and net profit was 43.15 million yuan, with about 95% of revenue coming from electronic component distribution. This is Huakai Yibai's third major acquisition this year, following earlier moves into high-end sports goods and home medical assistive devices. The company is expanding through external acquisitions from cross-border e-commerce exports into the radio frequency technology and electronic component distribution sectors.
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Huakai Yibai shareholder Zhuang Junchao releases pledge on 2 million shares

Huakai Yibai Technology Co., Ltd. shareholder Zhuang Junchao released the pledge on 2 million shares on July 21, 2026, representing 6.50% of his holdings and 0.51% of the company's total share capital. The pledgee was China Merchants Securities Co., Ltd. As of the announcement date, Zhuang Junchao holds 30.7627 million shares, accounting for 7.86% of the total share capital, while his concert party, Siyang Chaoran Mailun Enterprise Management Partnership, holds 31.1132 million shares, or 7.95%. Following this release, Zhuang Junchao has a cumulative pledged amount of 10.2 million shares, representing 33.16% of his holdings, and the concert party's total pledged shares amount to 30.3 million, or 48.97% of their combined holdings. The company stated that the shareholder's credit standing is sound, and the pledged shares are not subject to forced liquidation or compulsory transfer risks.
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Huakai Yibai Expects First-Half 2026 Net Profit Attributable to Parent to Rise 321.88% to 389.92% Year-on-Year

Huakai Yibai disclosed its earnings forecast, expecting to achieve operating revenue of 3.9 billion to 4 billion yuan in the first half of 2026, with net profit attributable to the parent of 155 million to 180 million yuan, representing a year-on-year increase of 321.88% to 389.92%. Deducted non-recurring net profit is expected to be 153 million to 177 million yuan, up 528.56% to 627.86% year-on-year. The company stated that the profit growth was mainly due to optimized inventory management reducing warehousing costs, the premium business turning losses into profits, and a year-on-year decrease in share-based payment expenses and asset impairment losses.
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Huakai Yibai's First-Quarter Net Profit Surges Over Fivefold, but Revenue Drops 16%

Huakai Yibai reported a first-quarter 2026 net profit attributable to the parent company of 71.5433 million yuan, a year-on-year increase of 574%, but revenue for the same period was 1.924 billion yuan, down 16.05% year-on-year. The company explained that the revenue decline was due to proactively reducing promotional intensity and dynamically slowing inventory restocking pace based on inventory health. The profit surge mainly stemmed from a smaller provision for impairment after previous large-scale destocking, as well as one-off factors such as a significant year-on-year reduction in losses related to accounts receivable and fixed assets. In 2025, the company's sales on Amazon's single platform amounted to 5.695 billion yuan, accounting for 62.35% of total annual revenue, indicating a highly concentrated customer structure. As of the end of the first quarter of 2026, goodwill stood at 826 million yuan, representing 34% of the 2.395 billion yuan in net assets attributable to the parent company, with the high goodwill carrying hidden impairment risks. Key shareholder Zhou Xinhua and his concert party Luo Ye have already initiated multiple rounds of share reductions, sparking market concerns about the company's prospects.
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