Shanghai Jinfeng Wine Co Ltd

Jinfeng Wine released its 2026 interim report. Total operating revenue was 189 million yuan, and net profit attributable to the parent company was negative 5.762 million yuan, an increase of 1.374 million yuan compared with the same period last year, marking two consecutive years of improvement. Net cash flow from operating activities was negative 91.3477 million yuan. The asset-liability ratio was 11.06 percent, and the gross margin was 42.50 percent, up 2.82 percentage points from the same period last year, marking three consecutive years of improvement. The latest return on equity was negative 0.30 percent, diluted earnings per share was negative 0.01 yuan, total asset turnover was 0.09 times, and inventory turnover was 0.18 times. The company had 46,100 shareholders, and the top ten shareholders held 281 million shares, accounting for 41.96 percent of total share capital.

Jinfeng Wine released its 2026 interim report on August 28. First-half operating revenue was 189 million yuan, down 12.5 percent year on year, while net loss attributable to the parent company was 5.76 million yuan, narrowing from a loss of 7.14 million yuan in the same period last year. Second-quarter revenue was 69.11 million yuan, down 11.9 percent year on year, and net loss attributable to the parent company was 6.97 million yuan, narrowing from a loss of 9.98 million yuan a year earlier. The company said the loss was mainly due to pressure in core markets and weak end-market sell-through, but cost reduction and expense control measures helped narrow the loss year on year. As of the end of the second quarter, total assets were 2.111 billion yuan and net assets attributable to the parent company were 1.894 billion yuan.

Jinfeng Wine disclosed its earnings forecast, expecting a net loss attributable to shareholders of 4.4 million to 6.5 million yuan in the first half of 2026, compared with a loss of 7.136 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 5.5 million to 7.6 million yuan, compared with a loss of 8.0269 million yuan a year earlier. The company said the loss was mainly due to insufficient operating revenue, with gross profit unable to cover costs and expenses. Based on the closing price on July 14, Jinfeng Wine's current price-to-earnings ratio is approximately 560.26 to 999.88 times, its price-to-book ratio is about 1.41 times, and its price-to-sales ratio is about 5.25 times. Jinfeng Wine is primarily engaged in the production and sale of alcoholic beverages centered on yellow rice wine.