Shanghai HIUV New Materials Co Ltd

Haiyou New Materials released its 2026 interim report on August 27. Supported by improved operating quality in its photovoltaic film main business and expansion of its automotive new materials business, the company achieved a significant narrowing of losses amid an industry cycle adjustment, and completed the conversion and redemption of convertible bonds to optimize its capital structure. During the reporting period, the company achieved operating revenue of 611 million yuan, down 3.51 percent year on year. Net profit attributable to the parent company was negative 48 million yuan, a reduction in losses of 86 million yuan compared with the same period last year. Net profit after deducting non-recurring items was negative 57 million yuan, a year-on-year reduction in losses of 78 million yuan. Net cash flow from operating activities was 112 million yuan, maintaining a positive inflow. Net assets attributable to shareholders of the listed company at the end of the period rose 47.77 percent year on year, and the asset-liability ratio fell to 30.38 percent. In the photovoltaic film business, gross margin improved year on year through optimizing the customer structure, strengthening cost control, and promoting price linkage. In the automotive new materials business, the PDCLC instant-light liquid crystal dimming film added five new vehicle model project designations and completed trial fitting verification for a new energy vehicle model under Toyota of Japan. Research and development investment was 28.0364 million yuan, accounting for 4.59 percent of revenue. The company still faces challenges including raw material price fluctuations, accounts receivable recovery risks, and intensifying industry competition.