Sinofibers Technology released its 2026 interim report on August 26. Affected by the phased adjustment of major customers' procurement pace, the company's performance fell sharply and slipped into a loss. During the reporting period, the company achieved operating revenue of 179 million yuan, a year-on-year decrease of 61.36%; net profit attributable to the parent company was negative 49 million yuan, turning from profit to loss year-on-year; non-GAAP net profit was negative 58 million yuan, also turning from profit to loss year-on-year. Net cash flow from operating activities was negative 18 million yuan, shifting from a net inflow in the same period last year to a net outflow. The company's main business is high-performance carbon fiber and fabrics, with products mainly used in the aerospace field. During the reporting period, this business achieved operating revenue of 179 million yuan, accounting for 100% of total revenue, with a gross margin of 27.02%, down 36.84 percentage points from the same period last year. The decline in performance was mainly due to a phased fall in downstream customer demand and a significant reduction in product sales volume. Although operating costs fell 21.98% year-on-year, the cost decline was far smaller than the revenue decline, severely squeezing gross profit margins. In addition, the company continued to increase R&D investment, with R&D expenses reaching 83 million yuan, up 113.99% year-on-year. At the same time, due to share-based payment expenses recognized for the employee stock ownership plan and other factors, administrative expenses rose 72.91% year-on-year, further aggravating the loss. As a core supplier of high-end carbon fiber in China's aerospace field, the company has advantages in large-scale wet spinning production and deep customization services. The third-phase project has been completed, and the fourth-phase project is progressing steadily, with ample capacity reserves. However, it faces risks such as relatively concentrated customers, declining product prices, and capacity absorption.
Sinofibers Technology Co LtdRevenue fell 61.36% due to phased reduction in major customers' procurement pace, causing a loss.
