Housewares & Specialties

Aishida issued a stock trading abnormality announcement after hitting the daily limit-up for two consecutive trading days, cautioning that its embodied intelligent robot cooperation project is still in its early stage, with sales revenue generated so far at only 137,200 yuan, and that technology iteration, project implementation, and commercialisation all remain uncertain. On September 3 and September 4, Aishida hit the daily limit-up both days, with the cumulative deviation in closing price gains over the two consecutive trading days exceeding 20 percent. As of the close on September 4, the share price stood at 11.28 yuan per share, giving a total market capitalisation of 3.842 billion yuan. The company's main business covers cookware, small home appliances, and industrial robots, and its industrial robot business will not have a material impact on the company's financial position and operating results for 2026. In the first half of 2026, the company's operating revenue was 1.351 billion yuan, with cookware and small home appliance business accounting for 84.46 percent of revenue and industrial robots accounting for 12.20 percent. In addition, a wholly owned subsidiary of Aishida signed a strategic cooperation agreement with Zhiyuan Innovation, planning to start with contract manufacturing of Zhiyuan Robotics' quadruped robot dogs, with the first robot dog product expected to roll off the production line in the fourth quarter of 2026. Meanwhile, the equipment procurement agreement between its controlling subsidiary Qianjiang Robot and Honglu Steel Structure is progressing more slowly than expected. The original plan called for purchasing 1,888 units, but only 920 units have actually been purchased, representing 49 percent. However, Aishida said the amount involved in the agreement accounts for a relatively low proportion of the company's revenue in the previous year and will not have a material adverse impact.

Aishida Co., Ltd. announced that the Equipment Procurement Framework Cooperation Agreement signed between its controlling subsidiary Zhejiang Qianjiang Robot Co., Ltd. and Anhui Honglu Steel Structure Group Co., Ltd. expired on September 2, 2026. During the agreement period, Honglu Steel Structure actually purchased a total of 920 related industrial robot products, representing 49% of the originally planned 1,888 units. The fulfillment progress fell short of expectations because the customer adjusted its product planning in response to changes in the external market environment. Cooperation between the two parties is proceeding normally, with a certain procurement and delivery pace maintained every month, and they will continue to fulfill the framework agreement. The company stated that the amount involved accounts for a relatively low proportion of its revenue in the previous year, will not have a material adverse impact on operating performance or financial condition, and does not constitute a breach of contract.

Deli Shares' 2026 interim report shows the company's net profit attributable to shareholders was negative 57.3845 million yuan, with the loss widening by 12.0679 million yuan compared with the same period last year. Total operating revenue was 708 million yuan, down 8.12 percent year-on-year. Net cash inflow from operating activities was 25.0124 million yuan, down 49.75 percent year-on-year. The company's asset-liability ratio was 71.42 percent, gross margin was 19.10 percent, return on equity was negative 7.67 percent, and diluted earnings per share was negative 0.15 yuan. The number of shareholders was 13,700, and the top ten shareholders held 51.84 percent of total share capital.

Deli Shares released its 2026 interim report on August 30. The reporting period remained loss-making and the loss widened, with net profit attributable to the parent company at negative 57.38 million yuan, a year-on-year loss expansion of 26.63%. The company achieved operating revenue of 708 million yuan, down 8.12% year-on-year, and non-GAAP net profit of negative 58.94 million yuan, with the loss widening by 30.59%. The decline in performance was mainly affected by the export tax rebate rate being adjusted from 9% to 0%, rising costs caused by geopolitical factors, and the shutdown of the photovoltaic segment. Among these, subsidiary Bengbu Guangneng has temporarily halted its furnaces since January 2025, contributing no production or sales in the current period and generating a large loss. Although the Pakistani subsidiary remained profitable and international business revenue grew 3.93% year-on-year, it was difficult to fully offset the negative effects of the domestic main business and the photovoltaic segment. The company also made an inventory write-down provision of 18.34 million yuan, further eroding profits.

Supor released its 2026 semi-annual report, showing operating revenue of 11.41 billion yuan for the period, down 0.59% year on year, and net profit attributable to shareholders of the listed company of 868 million yuan, down 7.7% year on year. The company plans no cash dividend, no bonus shares, and no conversion of capital reserve into share capital for the first half of 2026.

Supor released its 2026 interim report. Total operating revenue was 11.41 billion yuan, down 0.59% from the same period last year. Net profit attributable to the parent company was 868 million yuan, down 7.70% year-on-year. Net cash inflow from operating activities was 484 million yuan, down 5.50% year-on-year. The company's latest asset-liability ratio was 60.47%, gross margin was 24.24%, return on equity was 17.18%, and diluted earnings per share was 1.09 yuan.

Supor released its 2026 semi-annual report, showing first-half operating revenue of 11.41 billion yuan, down 0.59% year on year, and net profit attributable to shareholders of the listed company of 868 million yuan, down 7.7% year on year. The company plans no interim cash dividend, no bonus shares, and no conversion of capital reserve into share capital. According to the financial report, second-quarter net profit was 362 million yuan, compared with 505 million yuan in the first quarter, a quarter-on-quarter decline of 28%.

Supor released its 2026 interim report. First-half net profit attributable to the parent fell 7.7% year on year to 868 million yuan, while operating revenue was 11.41 billion yuan, down 0.6% year on year. Second-quarter net profit attributable to the parent was 362 million yuan, down 18.2% year on year, and operating revenue was 5.53 billion yuan, down 2.9% year on year. The company said domestic sales grew slightly, mainly thanks to new product launches in open-flame cookware and small kitchen appliances, such as the second-generation pure titanium wok series and the hot-air zero-coating rice cooker, but export business declined due to the external environment. As of the end of the second quarter, total assets were 12.855 billion yuan, down 4.2% from the end of the previous year, and net assets attributable to the parent were 5.05 billion yuan, down 19.6% from the end of the previous year.

On the evening of August 27, Haier Smart Home, Supor and Robam released their half-year reports. Affected by domestic and international market conditions, all three mainstream home appliance companies saw declines in both volume and profit in the first half. Data from AVC shows that in the first half of the year, total retail sales of all categories in China's home appliance industry reached 425 billion yuan, down 9.9 percent year on year, with a 6 percent decline in the first quarter and a 12.4 percent decline in the second quarter. Haier Smart Home's first-half operating revenue was 152.115 billion yuan, down 2.8 percent year on year, with net profit attributable to the parent company of 10.316 billion yuan, down 14.27 percent, and foreign exchange losses of 704 million yuan. Supor's revenue was 11.4 billion yuan, down 0.59 percent year on year, with net profit attributable to the parent company of 868 million yuan, down 7.7 percent. Robam's revenue was 3.972 billion yuan, down 13.78 percent year on year, with net profit attributable to the parent company of 578 million yuan, down 18.75 percent, and it plans to pay a cash dividend of 5 yuan per 10 shares. Looking ahead to the second half of the year, the decline in the size of the domestic home appliance market is expected to narrow, and companies are streamlining their organizational structures to reduce costs and improve efficiency.

Aishida released its 2026 interim report. Total operating revenue was 1.351 billion yuan, and net profit attributable to the parent company was a loss of 93.41 million yuan, swinging from profit to loss. Compared with the same period last year, it decreased by 96.21 million yuan, a year-on-year decline of 3441.57 percent. Net cash flow from operating activities was a negative 25.28 million yuan, down 150.43 percent year on year. The company's asset-liability ratio was 71.79 percent, gross margin was 31.08 percent, return on equity was negative 7.13 percent, and diluted earnings per share was negative 0.27 yuan. The number of shareholders was 33,200, and the top ten shareholders held 61.16 percent of the total share capital.

Aishida released its 2026 interim report, showing a net loss attributable to the parent company of 93.41 million yuan in the first half, down 3441.6% year on year. Operating revenue was 1.35 billion yuan, up 6.4% year on year. Net profit attributable to the parent company excluding non-recurring items widened from a loss of 8.22 million yuan a year earlier to a loss of 104 million yuan. Net operating cash flow was negative 25.28 million yuan, down 150.4% year on year. In the second quarter, net profit attributable to the parent company widened from a loss of 3.1 million yuan a year earlier to a loss of 82.93 million yuan. The company said overall demand in the cookware and small home appliance industry remained weak, but online sales rose to 75 percent of the total, domestic sales revenue increased 18.94 percent year on year, and shipments of industrial robot business grew substantially.

Xiuqiang Shares released its 2026 interim report, with net profit attributable to the parent company of 59.996 million yuan, a decrease of 54.61% compared with the same period last year. The company's total operating revenue was 746 million yuan, down 11.26% year-on-year; net cash inflow from operating activities was 48.9585 million yuan, down 53.03% year-on-year. The company's latest asset-liability ratio was 16.87%, gross margin was 21.37%, ROE was 2.27%, and diluted earnings per share was 0.08 yuan.

Xiuqiang Co. disclosed its 2026 semi-annual report. In the first half, it achieved total operating revenue of 746 million yuan, down 11.26% year on year. Net profit attributable to the parent company was 59.996 million yuan, down 54.61% year on year. Net profit after deducting non-recurring items was 50.0588 million yuan, down 59.16% year on year. Net cash flow from operating activities was 48.9585 million yuan, down 53.03% year on year. Basic earnings per share were 0.08 yuan, and the weighted average return on net assets was 2.25%. The company is mainly engaged in the research, development, production and sales of glass deep-processing products.

Xiuqiang Shares released its 2026 half-year report. Net profit attributable to the parent in the first half was 60 million yuan, down 54.6% year on year. Operating revenue was 746 million yuan, down 11.3% year on year. Net profit attributable to the parent after deducting non-recurring items was 50.06 million yuan, down 59.2% year on year. Net operating cash flow was 48.96 million yuan, down 53.0% year on year. In the second quarter, operating revenue was 396 million yuan, up 1.3% year on year, while net profit attributable to the parent was 22.56 million yuan, down 53.0% year on year. The company said appliance glass remains the main source of revenue and profit, building-integrated photovoltaic glass is still in the market expansion stage, and the Thailand production base has completed installation and commissioning of major equipment and obtained relevant quality management system certification.

Xiuqiang Glass has released its 2026 interim report. Affected by weakening end-market demand for home appliances and price declines for some products, the company's revenue and profit both fell. During the reporting period, it achieved operating revenue of 746 million yuan, down 11.26 percent year on year. Net profit attributable to the parent company was 60 million yuan, down 54.61 percent. Non-GAAP net profit was 50 million yuan, down 59.16 percent. Overall gross margin was 21.37 percent, down 7.59 percentage points year on year, the main reason the decline in net profit was far larger than the decline in revenue. Glass products remained the core source of income, generating revenue of 737 million yuan and accounting for more than 98 percent of total revenue, but their gross margin fell 7.49 percentage points year on year to 20.78 percent. In addition, affected by foreign exchange gains and losses shifting from gains to losses, financial expenses rose sharply year on year to 17.34 million yuan. Net cash flow from operating activities was 49 million yuan, down 53.03 percent year on year. The company's production base in Thailand has completed equipment installation and commissioning and passed audits by some customers. Its BIPV business has already delivered projects at multiple public buildings. Going forward, attention should be paid to the recovery of gross margins for home appliance glass products, the pace at which orders are converted at the Thailand base, and the improvement of operating cash flow.

Haers released its 2026 interim report, with net profit attributable to the parent company of 48.8704 million yuan, a decrease of 46.50% compared with the same period last year. The company's total operating revenue was 1.773 billion yuan, up 12.83% year-on-year, achieving growth for three consecutive years. Net cash inflow from operating activities was negative 34.7367 million yuan, a decrease of 9.7026 million yuan compared with the same period last year. The company's latest asset-liability ratio was 44.99%, down 8.25 percentage points from the same period last year; gross margin was 26.53%, down 2.19 percentage points year-on-year.

Haers released its 2026 interim report, showing first-half net profit attributable to the parent of 48.87 million yuan, down 46.5% year on year. Operating revenue was 1.77 billion yuan, up 12.8% year on year, while net profit attributable to the parent excluding non-recurring items was 46.44 million yuan, down 48.3% year on year. The company said finance expenses rose 829.88% compared with the same period last year, mainly due to higher exchange losses caused by fluctuations in the US dollar exchange rate. Affected by the phased appreciation of the renminbi against the US dollar, export gross margins came under corresponding pressure. As of the end of the second quarter, total assets were 4.353 billion yuan, up 9.0% from the end of the previous year, and net assets attributable to the parent were 2.392 billion yuan, up 43.7% from the end of the previous year. On June 29, Haers announced that Lyu Lizhen and Ouyang Bo, persons acting in concert with controlling shareholder Lyu Qiang, and some senior managers planned to increase their holdings of company shares within six months, with a combined amount of no less than 5 million yuan and no more than 10 million yuan.

Haers disclosed its 2026 semi-annual report. In the first half, total operating revenue reached 1.773 billion yuan, up 12.83% year on year, but net profit attributable to the parent was 48.8704 million yuan, down 46.50% year on year. Non-GAAP net profit was 46.443 million yuan, down 48.31% year on year, and net cash flow from operating activities was negative 34.7367 million yuan, compared with negative 25.0341 million yuan in the same period last year. During the reporting period, basic earnings per share were 0.1 yuan, and the weighted average return on equity was 2.37%, down 2.91 percentage points year on year. The company focuses on the production and sale of insulated containers. As of the end of the first half, the book value of inventory was 667 million yuan, accounting for 27.87% of net assets.

Chahua Shares released its 2026 interim report on August 14, 2026. The company's total operating revenue was 1.195 billion yuan, net profit attributable to the parent was 8.5966 million yuan, and net cash flow from operating activities was negative 96.0258 million yuan. The company's latest asset-liability ratio was 35.43%, up 3.77 percentage points from the previous quarter and up 5.52 percentage points from the same period last year. The latest gross margin was 7.56%, down 1.30 percentage points from the previous quarter and down 7.57 percentage points from the same period last year. The latest return on equity was 0.75%, and diluted earnings per share was 0.04 yuan. The company's latest total asset turnover was 0.68 times, and the latest inventory turnover was 6.41 times. The number of shareholders was 13,300, and the top ten shareholders held 134 million shares, accounting for 55.34% of the total share capital.

Supor faced pressure in the first half of 2026, with operating revenue of 11.41 billion yuan, down 0.59 percent year-on-year, and net profit attributable to shareholders of the listed company of 868 million yuan, down 7.70 percent. The company's domestic sales business saw slight growth, but export sales declined due to reduced orders from major clients. Overall revenue changed little, while the profit decline was significantly larger than the revenue change. To cope with weak domestic consumer demand and intensifying industry competition, Supor continued to increase marketing investment. Selling expenses in 2025 reached 2.409 billion yuan, up 10.41 percent year-on-year. In the first quarter of this year, selling expenses were 646 million yuan, up 11.17 percent, accounting for 10.98 percent of total quarterly revenue. Meanwhile, the company's R&D investment ratio has long hovered around 2 percent, lower than the 3 to 4 percent levels of peers such as Bear Electric and Joyoung. Recently, Vice General Manager Ye Jide and Chief Financial Officer Xu Bo together reduced their holdings by 43,800 shares, cashing out approximately 1.8788 million yuan. In addition, since 2023, Supor's annual dividend payout ratio has exceeded 99 percent, with cumulative dividends over three years surpassing 6.5 billion yuan, of which more than 80 percent went into the pockets of its French shareholder, sparking market concerns about its long-term competitiveness.

Supor released its semi-annual performance flash report for 2026, with first-half revenue reaching 11.41 billion yuan, down 0.59 percent year-on-year, and net profit attributable to the parent company at 868 million yuan, down 7.70 percent year-on-year. In the second quarter, the year-on-year decline in net profit attributable to the parent widened to 18.22 percent, indicating a significant loss of earnings momentum. The company's export business is heavily dependent on its controlling shareholder, France's SEB Group, with related-party transactions with SEB accounting for 93 percent of total export revenue in 2025. SEB's own performance pressure has led to shrinking orders. Meanwhile, in the first half, LME aluminum and copper prices rose by 3.66 percent and 7.70 percent respectively, rigidly pushing up raw material costs. Selling expenses, including advertising, promotions, and giveaways, increased from 1.553 billion yuan in 2022 to 1.938 billion yuan in 2025, while the research and development expense ratio remained at only around 2 percent, below the industry average, raising doubts about product competitiveness. Additionally, a near-full dividend payout model caused net assets to fall 19.65 percent year-on-year, with the high return on equity being passively driven up by the equity multiplier and asset turnover ratio. Around the time of the performance flash report disclosure, its official stores uploaded batches of AI-generated suggestive short videos to chase traffic, exposing a lack of marketing content control and traffic anxiety.

Aishida's controlling shareholder, Aishida Group, has pledged 10 million shares, representing 7.96% of its holdings and 2.94% of the company's total share capital. As of the announcement date, Aishida Group has cumulatively pledged 89 million shares, accounting for 70.83% of its holdings and 26.13% of the company's total share capital. In the first quarter of 2026, Aishida reported revenue of 698 million yuan and a net loss attributable to the parent company of 10.48 million yuan.