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China First Heavy Industries

China First Heavy Industries manufactures and sells technical equipment in China and internationally. Its products include nuclear power equipment, petrochemical equipment such as coal liquefaction and hydrogenation reactors, PTA and ethylene oxide reactors, oversized heat exchangers, and coal gasifiers; metallurgical equipment including continuous casting machines, converters, electric furnaces, cold and hot strip rolling mills, sectional beams, long product rolling mills, shearing lines, plate levelers, slab sizing presses, and coilers; forging equipment including mechanical and hot die forging presses, stretch levelers, and large hydraulic presses; and engineering equipment such as mining excavators, shield tunneling machines, plate bending machines, and roller mills. The company also provides spare parts, engineering contracting, design, transportation and insurance, technical guidance and training, installation and debugging, after-sale maintenance, and warehouse and storage services. It engages in heavy equipment technology development, electromechanical products, electrical products manufacturing, glass fiber products, and wind power services, and offers material technology R&D, import and export, technical development and consultation, technology transfer, installation, and international marketing. It serves the nuclear power, petrochemical, hydrogenation, and metallurgy sectors. Formerly known as First Heavy Machinery Works, the company was founded in 1954 and is headquartered in Qiqihar, China.

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China First Heavy Industries narrows 2026 interim net loss to RMB 2.7117 million

China First Heavy Industries released its 2026 interim report, with total operating revenue of RMB 4.289 billion and net profit attributable to the parent company of negative RMB 2.7117 million, an improvement of RMB 103 million compared with the same period last year, marking a second consecutive year of narrowing losses. Net cash flow from operating activities was negative RMB 499 million, the asset-liability ratio fell to 82.78%, gross margin rose to 15.76%, and ROE was negative 0.05%. The number of shareholders was 294,400, and the top ten shareholders held 66.63% of total share capital.
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China First Heavy Industries Removes Lu Wenjun as Director and Chairman After Bribery Conviction

China First Heavy Industries announced that the company held the 66th meeting of the fourth board of directors on August 11, 2026, and approved a proposal to remove Lu Wenjun from his positions as director and chairman. Lu Wenjun was sentenced to criminal punishment for accepting bribes. In accordance with the Company Law and the company's articles of association, the board agreed to remove him from his posts. The proposal must be submitted to the shareholders' meeting for deliberation.
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China First Heavy Industries expects net loss of 2.6 million to 3.8 million yuan attributable to parent in first half of 2026

China First Heavy Industries disclosed its earnings forecast, expecting a net loss attributable to owners of the parent of 2.6 million to 3.8 million yuan for the first half of 2026, compared with a loss of 106 million yuan in the same period last year. After deducting non-recurring gains and losses, the net loss is expected to be 14 million to 22 million yuan, compared with a loss of 212 million yuan a year earlier. The company said the expected loss is mainly due to weakening market demand for equipment manufacturing in sectors such as metallurgical complete sets, with total orders and structure falling short of expectations. Although total profit is positive, the net profit attributable to the parent remains negative after deducting minority shareholders' profit.
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