Sanxing New Materials released its 2026 interim report on August 28. First-half operating revenue was 835 million yuan, up 4.8 percent year on year, but net profit attributable to the parent swung from a loss of 30.23 million yuan a year earlier to a loss of 39.57 million yuan. Net profit attributable to the parent after deducting non-recurring items widened from a loss of 32.13 million yuan to a loss of 39.47 million yuan. Net operating cash flow was negative 81.3 million yuan, down 135.4 percent year on year. In the second quarter, operating revenue was 410 million yuan, down 3.4 percent year on year, while the net loss attributable to the parent narrowed from 40.53 million yuan to 36.55 million yuan. As of the end of the second quarter, total assets stood at 4.933 billion yuan, up 10.7 percent from the end of the previous year, and net assets attributable to the parent were 1.382 billion yuan, up 62.0 percent. Among the company's two core businesses, the glass door body business for low-temperature storage equipment grew steadily, while the photovoltaic glass business continued to lose money amid an industry downturn, pushing the consolidated net margin into negative territory. Management specifically noted that Guohua Jintai's photovoltaic glass project could not cover costs with sales revenue because prices remained low, and construction of some production lines was delayed. The company has responded by optimizing raw material use and strictly controlling costs.
Three Stars NMFirst-half net loss widened to 39.57 million yuan with negative operating cash flow, as the photovoltaic glass business kept losing money amid an industry downturn.
