Greenworks (Jiangsu) Co. Ltd. A

Greebo (301260) disclosed its 2026 semi-annual report on August 28. In the first half of the year, total operating revenue reached 2.994 billion yuan, up 0.59% year-on-year, but net profit attributable to the parent company recorded a loss of 165 million yuan, compared with a profit of 133 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 159 million yuan, compared with a profit of 158 million yuan a year earlier. Net cash flow from operating activities was negative 237 million yuan, versus 225 million yuan in the prior-year period. Basic earnings per share were negative 0.3413 yuan, and the weighted average return on equity was negative 3.98%, down 6.9 percentage points year-on-year. The company is mainly engaged in the research, development, design, manufacturing and sales of new energy outdoor power equipment.

Greenworks released its 2026 interim report, showing total operating revenue of 2.994 billion yuan and a net loss attributable to the parent company of 165 million yuan, swinging from profit to loss and down 298 million yuan year-on-year, a decline of 224.32%. Net cash flow from operating activities was negative 237 million yuan, down 462 million yuan year-on-year, a decline of 205.38%. The company's asset-liability ratio was 60.06%, gross margin was 30.31%, return on equity was negative 4.09%, and diluted earnings per share was negative 0.34 yuan. The number of shareholders was 22,000, and the top ten shareholders held 77.01% of the total share capital.

Greenworks Tools announced that its wholly-owned subsidiary Greenworks Tools is recalling Kobalt-brand 24V and 48V lithium-ion battery packs with USB-C charging ports used in garden power tools, as requested by the US Consumer Product Safety Commission. The recall covers battery packs for lawn mowers, string trimmers, blowers, chainsaws, and mini saws sold at Lowe's stores and on Lowes.com in the US between January and May 2026. The reason is that using the USB-C port to charge in a manner not specified in the instructions may cause a short circuit on the battery pack's BMS circuit board. As of the recall announcement date, no injuries or property damage have been reported. The company stated that it has fully validated the recall plan with Lowe's and obtained CPSC approval, and most updated products have resumed sales at Lowe's stores. However, the costs and expenses related to this recall cannot be determined at this time, and the final impact on operating performance will depend on actual execution. The company has purchased recall insurance for all product categories globally, but the final compensation amount and timing are subject to the insurance contract terms and the insurer's review. Last year, Greenworks Tools reported a net loss attributable to the parent of 355 million yuan, a year-on-year decline of 504.01 percent. In the first quarter of this year, revenue reached 1.882 billion yuan, up 22.54 percent year-on-year, but net profit attributable to the parent was 136 million yuan, down 23.76 percent year-on-year. Overseas revenue accounted for as much as 98.64 percent but fell 6.85 percent year-on-year.