Sineng Electric Co Ltd

Sineng Electric released its 2026 interim report, with total operating revenue of 2.858 billion yuan and net profit attributable to the parent company of 216 million yuan. Net cash flow from operating activities was negative 309 million yuan, the debt-to-asset ratio rose to 64.62%, gross margin was 24.78%, and return on equity was 5.05%, down 3.79 percentage points from the same period last year. Diluted earnings per share were 0.39 yuan, down 2.50% year on year. The company had 69,900 shareholders, and the top ten shareholders held 39.91% of total share capital.

The US Federal Communications Commission has added Chinese-made new-type inverters and advanced robots to its restricted list. The rule takes effect immediately but applies only to new models not yet on the market. Existing units already in use or approved in the United States are not affected. Hit by the news, China's A-share inverter sector opened under pressure on the 29th. Leader Sungrow plunged as much as 10 percent intraday before closing down 4.93 percent. GoodWe, Kstar, and Chint Power all fell more than 3 percent in early trading but narrowed losses by the close. Kehua Data, SolaX Power, Sofar Solar, Sineng Electric, Ginlong Technologies, and Deye shares gradually recovered and turned positive. The China Photovoltaic Industry Association said the policy is not a blanket ban but will significantly raise compliance requirements for new products entering the US market. Companies need to pay attention to production location, software security, remote access mechanisms, and supply chain transparency, and evaluate conditional approval application pathways. An executive at a listed inverter company said the ban will no longer approve new inverter models for certification in the United States, so it mainly affects future product sales. Existing products are not impacted, and already certified models can still be sold to the US market. Over the past month, shares of global energy storage giant Sungrow have fallen by as much as one-third, wiping out over 100 billion yuan in market value. Chairman Cao Renxian has proposed a share buyback of 500 million to 1 billion yuan using the company's own or self-raised funds for equity incentives or employee stock ownership plans.