Biyi Shares disclosed its performance forecast, expecting a net loss attributable to the parent company of 31.7 million to 35.7 million yuan in the first half of 2026, compared with a profit of 53.7122 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 35.6 million to 39.6 million yuan, compared with a profit of 48.8867 million yuan in the same period last year. The company stated that the change in performance is mainly due to the centralized transfer of assets under construction to fixed assets for the Sino-Italian Industrial Park smart kitchen appliance construction project of its wholly-owned subsidiary Ningbo Biyi Technology Company, resulting in a significant increase in new fixed asset depreciation. At the same time, the new production lines in the industrial park have been put into operation, new employees are being trained, and multiple new product categories are undergoing simultaneous trial production, leading to concentrated upfront investment while production capacity has not yet been fully released, resulting in a temporarily low input-output ratio. In addition, exchange losses increased compared with the same period last year, further squeezing profit margins.
Zhejiang Biyi Electric Appliance Co. Ltd.Expects a net loss of 31.7-35.7 million yuan in H1 2026 vs profit last year, due to depreciation and upfront costs.
Subsidiary's asset transfer and new production lines cause increased depreciation and upfront costs, contributing to parent's loss.