HHC Changzhou Corp.

Jiangxin Home Furnishing released its 2026 interim report, with total operating revenue of 1.565 billion yuan, down 6.94% year-on-year; net profit attributable to the parent company was 308 million yuan, down 28.79% from the same period last year. Net cash inflow from operating activities was 313 million yuan, down 21.43% year-on-year. The company's asset-liability ratio was 22.22%, gross margin was 38.63%, ROE was 7.05%, and diluted earnings per share was 1.08 yuan, down 29.41% year-on-year. Total asset turnover and inventory turnover were 0.28 times and 1.86 times respectively, both lower than the same period last year. The number of shareholders was 8,512, and the top ten shareholders held 81.86% of the total share capital.

Jiangxin Home Furnishing saw both revenue and net profit fall in the first half of the year, while gross margin edged up slightly, reflecting a double squeeze from exchange rates and tariffs. The company disclosed its semi-annual report on the evening of August 28. During the reporting period, it achieved operating revenue of 1.565 billion yuan, down 6.94 percent year on year; net profit attributable to the parent company was 308 million yuan, down 28.79 percent; and non-GAAP net profit was 226 million yuan, down 47.38 percent. Affected by fluctuations in the exchange rates of the US dollar against the renminbi and the Vietnamese dong, on a comparable exchange-rate basis, export revenue converted into renminbi decreased by about 70.98 million yuan compared with the same period last year, accounting for about 4.54 percent of revenue for the period. At the same time, the company recognized exchange losses of 156 million yuan, causing financial expenses to rise to 132 million yuan, a year-on-year increase of 408.80 percent. Changes in US tariff policy also created pressure. In the first half of 2026, exports to the United States were subject to a 25 percent tariff rate, and the applicable period was extended from three months in the same period last year to six months. Based on calculations, this reduced total profit by 33.89 million yuan. The company's net margin was 19.66 percent, down about 6.03 percentage points year on year. In the secondary market, the share price has fallen about 54 percent this year, closing at 33.54 yuan per share on August 28.