Wecome Intelligent Manufacturing Co. Ltd.

Wankong Zhizao has released its 2026 interim report, with net profit attributable to the parent company at negative 18.7351 million yuan, swinging from profit to loss. The company's total operating revenue was 811 million yuan, down 12.60 percent from the same period last year. Net cash flow from operating activities was negative 15.0868 million yuan, down 119.56 percent year on year. The company's latest asset-liability ratio was 32.30 percent, gross margin was 15.98 percent, return on equity was negative 0.88 percent, and diluted earnings per share was negative 0.05 yuan.

Wankong Intelligent Manufacturing released its 2026 half-year report, showing operating revenue of 811 million yuan, a year-on-year decrease of 12.60 percent. Net profit attributable to the parent swung from profit to loss, with a loss of 18.7351 million yuan, a year-on-year decrease of 142.26 percent. Net profit after deducting non-recurring items was a loss of 27.4248 million yuan, a year-on-year decrease of 168.54 percent. Net cash flow from operating activities was negative 15.0868 million yuan, a year-on-year decrease of 119.56 percent. Gross margin was 16.38 percent, down 4.73 percentage points from the same period last year. The company did not carry out a half-year profit distribution. Revenue from the electrical cabinet business was 523 million yuan, accounting for 64.46 percent of total revenue. Revenue from the gas-insulated switchgear business was 247 million yuan, accounting for 30.40 percent. Together, the two businesses contributed 94.86 percent of operating revenue. The company's board of directors has approved the acquisition of a 51 percent stake in Zhejiang Dongjue Precision Technology Co., Ltd. for 275 million yuan. As of the end of the reporting period, the equity transfer had not yet been completed.

Wankong Intelligent Manufacturing disclosed its earnings forecast, expecting a net loss attributable to the parent company of 16 million to 21 million yuan in the first half of 2026, compared with a profit of 44.3325 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 24 million to 28 million yuan, compared with a profit of 40.0157 million yuan in the same period last year. The company is mainly engaged in the research, development, manufacturing, and sales of power distribution switch control equipment. The change in performance is mainly affected by the slowdown in macroeconomic growth and the deceleration of investment pace in downstream industries, leading to weak terminal market demand and intense industry competition, with both volume and price under pressure on the sales side. At the same time, insufficient capacity utilization has led to a higher proportion of fixed costs such as depreciation and labor, and the phased increase in some raw material prices, coupled with mismatches in procurement and sales cycles, has prevented cost pressures from being transmitted downstream in a timely manner, resulting in a year-on-year contraction in operating revenue and a significant decline in overall product gross margin.