Pansoft Company Limited

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PanSoft's 2026 Interim Report Shows Net Profit Turned from Profit to Loss

PanSoft released its 2026 interim report. Total operating revenue was 160 million yuan, down 23.69% year-on-year. Net profit attributable to the parent company was a loss of 4.4373 million yuan, turning from profit to loss, down 467.73% compared with the same period last year. Net cash flow from operating activities was a negative 146 million yuan. The asset-liability ratio was 26.26%, gross margin was 30.57%, and diluted earnings per share was a negative 0.01 yuan.

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Minglue Technology’s takeover of Pulian Software triggers A‑share limit‑up and Hong Kong stock plunge

Hong Kong‑listed Minglue Technology acquired control of A‑share Pulian Software through a subsidiary. After the deal was announced, Pulian Software hit the 20% daily limit‑up for two consecutive days, while Minglue Technology’s share price fell more than 50% over the same period. According to the announcement, 16 shareholders of Pulian Software, including controlling shareholder Lin Guoqiang, plan to transfer a combined 19.07% stake to Beijing Minglue Zhaohui Technology at 11.38 yuan per share. After the transaction, Minglue Technology founder Wu Minghui will become the new de facto controller of Pulian Software. The A‑share market sees this as a powerful alliance between AI and the information technology application innovation sector, while Hong Kong investors are concerned that the acquirer, Minglue Zhaohui, has been loss‑making for nearly three years, with losses reaching 61.75 million yuan in 2025, and that parent company Minglue Technology reported a net loss attributable to shareholders of 6.415 billion yuan in 2025. Moreover, the day after the acquisition announcement coincided with the unlocking of more than 80% of Minglue Technology’s shares. Fundamental worries combined with selling pressure from the share unlock triggered a stampede‑like sell‑off in the stock.

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Xintian Technology and Pulian Software Both Plan Control Changes, Trading Halted from July 27

Xintian Technology and Pulian Software each announced plans for a change of control on the evening of July 24. Trading in both companies' shares will be suspended from the market open on July 27, with the halt expected to last no more than two trading days. Xintian Technology's controlling shareholder and actual controller, Shi Weiping, is planning a share transfer that may lead to a change of control, with the parties currently negotiating core terms such as the plan and price. The company recently disclosed its semi-annual earnings forecast for 2026, projecting a loss of 36.8 million to 50.8 million yuan for the first half, a swing from profit to loss year-on-year, mainly due to bad debt provisions from the closure of an investee company, adjustments to equity transfer gains, increased inventory write-downs, and exchange losses. Pulian Software's controlling shareholders and actual controllers, Lin Guoqiang and Wang Hu, are also planning a change of control, with trading in the company's shares and convertible bonds halted simultaneously.

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Pansoft's Controlling Shareholder and Actual Controller Plan Change of Control; Shares to Be Suspended

Pansoft announced that its controlling shareholder and actual controllers, Lin Guoqiang and Wang Hu, are planning matters related to a change of control, which may lead to a change in the company's controlling shareholder and actual controllers. Trading in the company's shares and convertible corporate bonds will be suspended from market open on July 27, 2026, with the suspension expected to last no more than two trading days.

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