Super-Dragon Engineering Plastics Co. Ltd

Jusailong disclosed its 2026 semi-annual report, with net profit attributable to the parent company of 3.7753 million yuan in the first half, down 82.53% year-on-year. The company achieved total operating revenue of 918 million yuan, up 22.74% year-on-year, but net profit attributable to the parent company in the second quarter alone was a loss of 5.48 million yuan, turning from profit to loss. The comprehensive gross margin for the first half fell to 9.22%, down 2.81 percentage points from the same period last year. The company said the main reasons were sharp fluctuations in raw material prices and a lag in passing costs downstream. In addition, the company's southwest production base fundraising project has been postponed to April 30, 2027, with cumulative investment progress at 52.11%.

Jusailong announced that its Southwest production base construction project, with a total investment of 240 million yuan, will be delayed by nine months to reach its intended usable state by April 30, 2027. The delay is due to the construction cycle of the intelligent three-dimensional warehouse falling short of expectations and the need for additional time for equipment integration and commissioning. The project is a key part of the company's national capacity layout, with planned use of 190 million yuan in raised funds sourced from the 250 million yuan convertible bonds issued in 2024. As of June 30, 2026, the raised funds investment progress stood at 52.11 percent. The company's net profit attributable to the parent in the first quarter of 2026 was 9.2591 million yuan, a year-on-year decline of 41.41 percent, showing a trend of increasing revenue but declining profit. The previously IPO-funded East China production base phase two project failed to achieve expected benefits in 2025, and the actual net profit of the South China production base phase two project also fell short of expectations.