Snowman Group expects attributable net profit for the first half of 2026 to be between 5.5 million yuan and 8 million yuan, down 70.26% to 79.55% from the same period last year. The company actively expanded into new markets and deepened cooperation with key clients, achieving substantial revenue growth, but intensifying competition in the domestic market and rising prices of some raw materials led to a decline in overall gross margin, narrowing profit margins. Geopolitical turmoil in the Middle East caused revenue and profit in that region to fall significantly short of expectations, the appreciation of the yuan against the euro and US dollar resulted in foreign exchange losses on foreign-currency assets, and the strategic adjustment of subsidiary Jiayun Oil & Gas's business as well as insufficient capacity utilization at some natural gas liquefaction projects also dragged down the performance of the oil and gas technical services segment. The company's share price hit a high of 29.21 yuan per share in January this year, and closed at 11.8 yuan per share on July 14, equivalent to a 60% discount from the high, with a cumulative decline of more than 36% for the year.
Fujian Snowman Co LtdFirst-half net profit plunged over 70%, causing share price to fall 60% from high.
Strategic adjustment and insufficient capacity utilization at natural gas liquefaction projects dragged down performance of oil and gas technical services segment.