Genew Technologies Co Ltd

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Multiple companies on Shanghai and Shenzhen stock exchanges released important announcements on the evening of August 24

On the evening of August 24, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Dongshan Precision stated during its results briefing that its 1.6T optical module products have been supplied to customers, but due to commercial confidentiality, specific order information cannot be disclosed. Far East Smarter Energy's subsidiary plans to acquire 80% equity of Fudewangwang for 216 million yuan; Topstar Technology plans to acquire 49% equity of Lailer Optoelectronics for 147 million yuan; the merger and restructuring plan between Orient Securities and Shanghai Securities was approved by an overwhelming majority at the shareholders' meeting. In terms of performance, Eoptolink Technology's net profit in the first half of the year was 7.529 billion yuan, up 90.98% year-on-year; CIG Shanghai's net profit grew 171.08% year-on-year; Chengxin Lithium Group turned losses into profits year-on-year; Sinomine Resource Group's net profit surged 1146.81% year-on-year; Luxshare Precision's net profit rose 18.04% year-on-year. In addition, Genew Technologies' actual controller plans to increase holdings of company shares by 15 million to 30 million yuan, Selon Industrial plans to repurchase shares worth 30 million to 60 million yuan, Donghong Pipe Industry pre-won a steel pipe procurement project worth 144 million yuan, Longjian Road & Bridge jointly won a 333 million yuan engineering project, and Gangdi Technology's wholly-owned subsidiary signed a smart control system procurement contract worth approximately 230 million yuan with Huadong Heavy Machinery.

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Zhenyou Technology first-half revenue 254 million yuan, loss widens to 131 million yuan

Zhenyou Technology released its 2026 interim report, with operating revenue of 254 million yuan, down 27.6 percent year on year. Net profit attributable to the parent swung from a loss of 47.59 million yuan in the same period last year to a loss of 131 million yuan. Second-quarter operating revenue was 137 million yuan, down 24.5 percent year on year, with a net loss attributable to the parent of 85.74 million yuan. The company said revenue from core network systems increased, but revenue from optical network and access systems, as well as digital intelligent network and smart emergency systems, declined, mainly due to intensifying market competition and delayed project delivery schedules. Research and development expenses accounted for 35.66 percent of operating revenue, up 10.91 percentage points from the same period last year.

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Genew Technologies' Private Placement Application Accepted by Shanghai Stock Exchange

Genew Technologies announced that its application to issue A-shares to specific investors has been accepted by the Shanghai Stock Exchange. The exchange reviewed the company's prospectus and related application documents, found them complete and compliant with statutory requirements, and decided to accept and review them in accordance with the law. The issuance still requires approval from the Shanghai Stock Exchange and registration clearance from the China Securities Regulatory Commission before it can proceed, and the final outcome remains uncertain.

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Genew Technologies replies to SSE inquiry: 2025 revenue fell and swung to a loss, high fourth-quarter revenue share is an industry norm

Genew Technologies disclosed its reply to the Shanghai Stock Exchange's inquiry letter on its 2025 annual report, addressing issues such as the revenue decline, swing from profit to loss, and high proportion of fourth-quarter revenue. The company's revenue last year was 877 million yuan, down 7.86 percent year-on-year, with a net loss attributable to the parent of 66 million yuan. Revenue from its optical network business halved, dropping 51.43 percent, mainly because Asia-Pacific operators cut capital expenditure, overseas projects were delayed, and orders shrank after Infinera was acquired. This was compounded by a 5.74 percentage point decline in overall gross margin and a goodwill impairment of 10.5227 million yuan at subsidiary Hangzhou Chenxiao. Regarding the fourth-quarter revenue of 368 million yuan and its high share, the company said its customers are mainly operators and government-enterprise clients, with projects typically accepted at year-end. From 2023 to 2025, fourth-quarter revenue accounted for nearly 40 percent each year, consistent with peers such as China Security and Shanghai Hanxun. Large revenue came from acceptance projects like the big data computer room of Super Telecom. The revenue recognition policy remained uniform, with no cross-period or inflated recognition. Quarterly profit fluctuations were due to varying hardware and software mixes in delivered projects causing gross margin swings, as well as differences in impairment provisions for inventory and receivables. The company and its peers have seen similar fluctuations over the years.

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