Jiangxi Naipu Mining Machinery

Naipu Mining disclosed its semi-annual report, posting an attributable net loss of 11.76 million yuan in the first half, down 169.24 percent year on year, swinging from profit to loss. The company achieved operating revenue of 497 million yuan in the first half, up 20.38 percent year on year, but financial expenses reached 41.8 million yuan, surging 967.01 percent year on year. The company attributed this to exchange rate fluctuations, with exchange losses becoming the primary cause of the loss. Overseas revenue was 290 million yuan, accounting for 58.34 percent of the total, and the expanded foreign currency settlement exposure directly eroded profits. Net cash flow from operating activities was negative 1.6968 million yuan, down 803.99 percent year on year. The asset-liability ratio rose to 50.19 percent, and the interest coverage ratio plunged from 3.47 times to 0.09 times.

Naipu Mining Machinery announced that its property in Shanghai's Qingpu District has been sealed by court order following the bankruptcy of developer Bowan Lanyun, and the company has recognized an asset impairment provision of 13,921,592.65 yuan for the property. The company purchased the property in 2020 for a total price of 75,307,026 yuan, but due to a dispute between Bowan Lanyun and a third party over construction payments, the project was not completed, the property title certificate could not be obtained, and the property was sealed by multiple courts. In November 2024, Bowan Lanyun entered bankruptcy restructuring, and recently the court ruled to terminate the restructuring process and declared it bankrupt. Naipu Mining Machinery stated that it has paid the full purchase price and is actually occupying and using the property, and the administrator will continue to push for project completion to secure title registration. In addition, the company's semi-annual earnings forecast for 2026 released on July 13 shows an estimated net loss attributable to shareholders of 13 million to 10 million yuan, a year-on-year decline of 176.54% to 158.87%, mainly due to exchange losses and increased depreciation and amortization.