Guanghui Logistics Co Ltd

Guanghui Logistics released its 2026 interim report, with net profit attributable to the parent company of 12.8016 million yuan, down 95.08% from the same period last year. Total operating revenue was 1.07 billion yuan, down 24.71% year-on-year; net cash inflow from operating activities was 575 million yuan, down 34.55% year-on-year. The company's latest asset-liability ratio was 58.71%, gross margin was 30.32%, ROE was 0.18%, and diluted earnings per share was 0.01 yuan.

Guanghui Logistics issued a performance forecast, expecting net profit attributable to shareholders of the listed company for the first half of 2026 to be between 10 million yuan and 14 million yuan, a year-on-year decline of 94.62% to 96.16%. The sharp drop in performance was mainly due to lower transport volumes in the energy logistics segment caused by maintenance on the Lanzhou–Xinjiang railway and freight rate adjustments, reduced delivery of remaining units in the real estate segment, and a year-on-year decrease in non-operating gains due to changes in compensation standards for the Meiju Logistics Park. The company's first-quarter net profit was 15 million yuan, implying an estimated second-quarter net loss of 1 million yuan to 5 million yuan, swinging from profit to loss quarter-on-quarter.

The Tulagergen to Baishihu South section of Guanghui Logistics' Hongnao Railway has been officially integrated into the unified management of the Linha Backbone Corridor. The northern heavy-haul transport corridor formed by connecting the Jiangnao, Hongnao, and newly built Naowu railways has a designed annual transport capacity of 200 million tonnes. The company has signed a 2026 freight volume agreement with China Railway Urumqi Bureau for 18 million tonnes, and a tripartite framework agreement with Linha Backbone Railway Corridor Xinjiang Company and China Railway Urumqi Bureau Group, clarifying that the asset ownership of the Hongnao Railway belongs to Guanghui Logistics, with only transport operations integrated into the national railway's unified dispatching. Leveraging the national 15th Five-Year Energy Plan and differentiated dual-carbon development paths, incremental outbound coal shipments from Xinjiang will continue to concentrate on the Linha Corridor. It is estimated that from 2025 to 2030, total new outbound Xinjiang coal rail shipments will be approximately 205 million tonnes, of which over 150 million tonnes will be transported via the Linha Corridor. As a core collection and distribution line, the Hongnao Railway will benefit in the long term. The company also disclosed its first-half earnings forecast on the same day. Due to maintenance on the Lanzhou-Xinjiang line and freight volume negotiations, net profit is expected to be between 10 million and 14 million yuan, a year-on-year decrease of 94.62% to 96.16%.