Hefei Kewell Power System Co Ltd

Kewell released its 2026 interim report, with net profit attributable to the parent company of 15.0701 million yuan, a decrease of 51.40% compared with the same period last year. The company's total operating revenue was 217 million yuan, down 3.15% year-on-year; net cash inflow from operating activities was 20.6191 million yuan, down 54.08% year-on-year. The company's latest asset-liability ratio was 21.85%, gross margin was 48.26%, ROE was 1.15%, and diluted earnings per share was 0.14 yuan.

Kewell released its 2026 interim report, showing that its AI server power testing business has achieved volume shipments, but net profit attributable to shareholders halved year on year. During the reporting period, the company recorded operating revenue of 217 million yuan, down 3.15 percent year on year. Net profit attributable to shareholders was 15 million yuan, down 51.40 percent year on year. Net profit after deducting non-recurring items was 9 million yuan, up 4.01 percent year on year. The sharp decline in net profit was mainly because the same period last year included a one-off investment gain from the disposal of a subsidiary, while no similar item occurred this period. Excluding that factor, total profit and net profit attributable to shareholders rose 38.03 percent and 21.70 percent year on year respectively. The company plans to distribute a cash dividend of 1.00 yuan per 10 shares, including tax, to all shareholders, totaling about 10.8 million yuan. Net cash flow from operating activities was 21 million yuan, down 54.08 percent year on year, mainly due to lower sales collections and interest income, as well as higher cash payments such as employee compensation. Revenue from the testing power supply product line reached 188 million yuan in the first half, accounting for 86.51 percent of total revenue. Benefiting from the rapid development of the AIDC industry, the AI server power testing business has already achieved volume shipments to mainstream server manufacturers, providing comprehensive testing solutions for key power conversion devices such as UPS and PSU.

Kewell announced that directors and shareholders holding more than 5% of shares, Jiang Jiaping and Ren Yi, senior executive Tang Deping, and directors Xia Yaping and Tai Kun, due to their own capital needs, plan to reduce their holdings by a total of no more than 4 million shares through block trades or centralized bidding from July 30 to October 29, 2026, representing no more than 3.67% of the company's total share capital.