Zhejiang Great Shengda Packaging Co Ltd

Dashengda disclosed its 2026 semi-annual report on August 26. In the first half, it achieved total operating revenue of 1.084 billion yuan, up 5.69% year on year. Net profit attributable to the parent company was 64.51 million yuan, up 9.07% year on year. Net profit after deducting non-recurring items was 28.221 million yuan, down 26.19% year on year. Net cash flow from operating activities was 95.8402 million yuan, down 35.90% year on year. During the reporting period, the company's basic earnings per share were 0.12 yuan, and the weighted average return on net assets was 1.97%.

Dashengda disclosed its 2026 half-year report on the evening of August 25. During the reporting period, it achieved operating revenue of 1.084 billion yuan, up 5.69% year on year, and net profit attributable to the parent company of 64.51 million yuan, up 9.07% year on year. The company continued to deepen its core corrugated paper packaging business, developed new customers such as Geely Automobile, Sunon Furniture, and Xiaomi Group, and laid out heavy-duty packaging operations. In terms of digital intelligence, relying on the E-packET industrial internet platform and the X-FUN intelligent packaging design platform, it used AIGC technology to drive intelligent upgrades across the entire chain. The high-end liquor packaging business obtained incremental orders for new products from leading baijiu customers, and the premium cigarette packaging business maintained stable customers within the China Tobacco system. In emerging businesses, subsidiary Hangzhou Simide Technology cooperated with Zhejiang University to develop atomic layer deposition equipment for perovskite solar cells, and supplied CSD equipment to Oxford PV. The company plans to build on its cadmium telluride and perovskite industrial foundation to expand into lithium battery new material equipment and the semiconductor sector, and to enter the domestic general-purpose graphics processor track through its equity stake in Xintong Semiconductor.

Dashengda's premium packaging business has become a key profit driver, as the company advances a dual-engine transformation combining packaging and chips. In 2025, the company's premium cigarette pack business achieved revenue of 581 million yuan, up 41.96 percent year on year, with a gross margin of 32.97 percent. Its high-end liquor packaging business posted revenue of 253 million yuan and a gross margin of 39.29 percent. Together, these two segments accounted for nearly 40 percent of total revenue and contributed over 60 percent of total gross profit. The traditional corrugated carton business recorded revenue of 1.182 billion yuan, down 7.23 percent year on year, with gross margin falling to 6.51 percent. In addition, Dashengda plans to invest a total of 550 million yuan to acquire a 22.9831 percent stake in Xintong Semiconductor. As of July 13, 2026, it has paid 300 million yuan and holds a 14.6117 percent stake, with the remaining 250 million yuan capital increase conditional on the successful tape-out of the third-generation GPU. For the full year 2025, the company reported revenue of 2.204 billion yuan, up 3.42 percent year on year, and net profit attributable to shareholders of 77.1166 million yuan, down 27.42 percent year on year.