Chongqing Wangbian Electric (Group) Corp. Ltd.

Wangbian Electric released its 2026 interim report. Total operating revenue was 1.87 billion yuan, and net profit attributable to the parent company was 19.08 million yuan, down 65.08% from the same period last year. Net cash flow from operating activities was negative 120 million yuan, a year-on-year decline of 705.02%. The company's asset-liability ratio was 64.59%, gross margin was 9.28%, ROE was 0.77%, and diluted earnings per share was 0.06 yuan. The number of shareholders was 35,300, and the top ten shareholders held 43.69% of the total share capital.

Wangbian Electric disclosed its earnings forecast, expecting attributable net profit for the first half of 2026 to be between 18 million yuan and 21 million yuan, a year-on-year decline of 61.56% to 67.05%. Deducted non-recurring net profit is expected to be between 1 million yuan and 4 million yuan, a year-on-year drop of 91.87% to 97.97%. The company stated that the expected decline in performance is mainly due to a phased decline in the gross margin of grain-oriented silicon steel, intensified market competition in the power transmission and distribution industry leading to lower gross margins, and significant investment during the expansion of new businesses while benefits will take time to materialize. At the same time, government subsidies partially offset the impact of the decline in main business gross margins. Based on the closing price on July 14, Wangbian Electric's current price-to-earnings ratio on a trailing twelve months basis is approximately 126.39 times to 138.01 times, its price-to-book ratio on a latest filings basis is about 1.81 times, and its price-to-sales ratio on a trailing twelve months basis is about 1.12 times.