Qijing Machinery

Qijing Machinery released its 2026 interim report, with net profit attributable to the parent company of 5.38 million yuan, a decrease of 86.70% compared with the same period last year. The company's total operating revenue was 1.03 billion yuan, a decrease of 26.65 million yuan from the same period last year, down 2.52% year-on-year. Net cash inflow from operating activities was 35.73 million yuan, an increase of 83.13 million yuan from the same period last year. The company's latest asset-liability ratio was 48.62%, gross margin was 10.16%, and diluted earnings per share was 0.03 yuan.

Qijing Machinery disclosed an earnings forecast, expecting net profit attributable to the parent for the first half of 2026 to be between 5 million and 7 million yuan, a year-on-year decline of 82.71% to 87.65%. Deducted non-recurring net profit is expected to be between 3 million and 4.5 million yuan, a year-on-year decline of 88.17% to 92.12%. The company stated that intensified market competition has put pressure on product prices, while rising prices of major raw materials and changes in product mix have led to a decline in gross margin. At the same time, the appreciation of the renminbi has caused an increase in exchange losses, and financial expenses have risen significantly year-on-year. Based on the closing price on July 14, Qijing Machinery's current price-to-earnings ratio is approximately 181.68 to 210.22 times, its price-to-book ratio is approximately 2.38 times, and its price-to-sales ratio is approximately 1.31 times.