Ningbo Xusheng Auto Technology Co Ltd

Xusheng Group released its 2026 interim report. Total operating revenue was 2.428 billion yuan, up 15.86% year on year. Net profit attributable to the parent company was 238 million yuan, up 18.48% year on year. Net cash inflow from operating activities was 384 million yuan, up 27.89% year on year. The company's asset-liability ratio was 27.47%, down 23.52 percentage points from the same period last year. Gross margin was 22.72%, up 0.95 percentage points year on year. Return on equity was 2.56%. Diluted earnings per share were 0.21 yuan. Total asset turnover was 0.19 times, and inventory turnover was 1.76 times, achieving three consecutive years of growth. The number of shareholders was 72,600, and the top ten shareholders held 51.50% of total share capital.

Xusheng Group released its 2026 interim report on August 27. During the reporting period, it achieved operating revenue of 2.428 billion yuan, up 15.86 percent year on year; net profit attributable to the parent company was 238 million yuan, up 18.48 percent; and non-GAAP net profit was 203 million yuan, up 14.86 percent. Among these, the auto parts business, as the core foundation, achieved revenue of 1.94 billion yuan, up 13.76 percent year on year; the energy storage business, as the second growth curve, achieved revenue of 290 million yuan; and the embodied intelligence business is in the early stage of industrialization and has already contributed initial incremental growth. During the reporting period, the company completed a change of control, with Guangzhou Industrial Investment Holdings Group becoming the controlling shareholder, which is expected to provide resource and market synergies. The company noted that attention should be paid to risks such as aluminum price fluctuations, trade tariffs, and the commercialization progress of new businesses.

Guangdong state-owned enterprises are intensifying acquisitions of a batch of new quality productive forces targets, exploring the path of empowering restructurings. Guangzhou Light Industry Group successively acquired Taimushi and Cangzhou Mingzhu in 2025, with the controlling stake transaction for Cangzhou Mingzhu totaling approximately 710 million yuan, and completed the delivery in March this year, subsequently promoting the establishment of its South China base in Zengcheng, Guangzhou. Guangzhou Industrial Investment Holdings Group took a controlling stake in Xusheng Group, a leader in automotive precision aluminum alloy components, for about 4.295 billion yuan in April this year, having previously acquired Tianhai Electronics and Farasis Energy, forming an automotive parts industry cluster exceeding 50 billion yuan. Shenzhen state-owned Shahé Corporation completed the acquisition of a 70 percent stake in Jinghua Electronics, becoming the first cross-border merger under Shenzhen's new restructuring policy. Zhuhai state-owned assets transferred a 16.67 percent stake in Sunsea AIoT to Sci-Tech Haike at no cost. Zhongshan Public Utilities acquired new energy assets within the system for 408 million yuan. Lingnan Holdings plans to acquire an 85 percent stake in Guangzhou Digital Group's Guangzhou Broadcasting City Services. Guangzhou Pharmaceutical Holdings is advancing the acquisition of Daan Gene to connect the pharmaceutical and testing industry chain. Industry insiders point out that this round of state-owned enterprise mergers and acquisitions places greater emphasis on obtaining controlling stakes and actual operational leadership, aiming to achieve two-way empowerment of resource integration and regional development.