Shenzhen Minglida Precision Technology Co. Ltd.

Minglida disclosed its 2026 semi-annual report on August 28. In the first half of the year, total operating revenue reached 1.736 billion yuan, up 13.76% year on year, but net profit attributable to the parent company showed a loss of 81.121 million yuan, wider than the loss of 31.7354 million yuan in the same period last year. Net profit after deducting non-recurring items showed a loss of 105 million yuan, compared with a loss of 45.2858 million yuan a year earlier. Net cash flow from operating activities was negative 195 million yuan, compared with negative 188 million yuan in the same period last year. Basic earnings per share were negative 0.2 yuan, and the weighted average return on equity was negative 5.24 percent, down 3.55 percentage points year on year. As of the end of the first half of 2026, the company's inventory book value was 1.271 billion yuan, accounting for 85.48 percent of net assets, an increase of 90.5153 million yuan from the end of last year, with an inventory write-down provision ratio of 8.8 percent. In addition, data from China Securities Depository and Clearing Corporation showed that as of August 21, 2026, 15.4 percent of the company's shares were pledged. The largest shareholder, Shenzhen Dalei Investment Development Company Limited, pledged 58.3622 million shares, accounting for 38.17 percent of its total holdings.

Minglida announced delays for two projects funded by raised capital. The Jiangxi Xinfeng precision structural components production base construction project phase one, originally scheduled to start production in August 2026, has been postponed to December 2026. The Mexico new energy vehicle precision structural components production base construction project, originally set for July 2026, has been pushed back to July 2028. The two projects plan to use a total of 750 million yuan in raised funds, with the Jiangxi Xinfeng project allocated 300 million yuan and the Mexico project allocated 450 million yuan. The company stated that the Jiangxi Xinfeng project still has some equipment pending acceptance, while the Mexico project, due to cautious consideration of the international trade environment, has only used its own funds in the early stage and has not yet utilized the raised funds. Minglida's first-quarter non-recurring net profit remained at a loss of 10.2513 million yuan, and its share price has fallen by 29.95 percent year-to-date.