Shenzhen SC New Energy Technology Corp Class A

SC Solar disclosed its 2026 semi-annual report on August 28. In the first half of the year, it achieved total operating revenue of 2.727 billion yuan, down 67.43% year on year; net profit attributable to the parent company was 375 million yuan, down 79.53% year on year; and net profit after deducting non-recurring items was 301 million yuan, down 82.08% year on year. Net cash flow from operating activities was 1.222 billion yuan, compared with negative 776 million yuan in the same period last year. Basic earnings per share were 1.08 yuan, and the weighted average return on equity was 2.77%, down 12.57 percentage points year on year. As of the end of the first half, the company's inventory book value was 6.723 billion yuan, accounting for 50.57% of net assets, an increase of 1.169 billion yuan from the end of last year.

SC-Solar has released its performance forecast for the first half of 2026, projecting net profit attributable to the parent at 362 million to 490 million yuan, a year-on-year decline of 73.23% to 80.22%. The company said the change in performance was mainly due to the phased adjustment in the photovoltaic industry, with lower downstream equipment demand leading to a decline in order volume and a reduction in the number of equipment acceptances.

Photovoltaic equipment leader Jiejia Weichuang has issued its 2026 half-year performance forecast, estimating net profit attributable to shareholders of the listed company at 362 million to 490 million yuan for the first half, a year-on-year decline of 73.23% to 80.22%. The company attributed the sharp drop mainly to the phased adjustment in the photovoltaic industry, with lower downstream equipment demand leading to a decline in order volume and fewer equipment acceptances. Notably, contract liabilities at the end of 2025 plummeted from 13.1 billion yuan at the beginning of the year to 4.61 billion yuan, a drop of 64.8%, while inventories also shrank sharply from 14 billion yuan to 5.55 billion yuan, confirming a severe shortage of new orders. Despite a counter-trend rise in gross margin, net cash flow from operating activities for the full year 2025 was negative 1.204 billion yuan, a year-on-year plunge of 140.81%. In the secondary market, the stock has fallen more than 40% cumulatively this year.