Tongxing Technology disclosed its 2026 interim report. The company achieved operating revenue of 229 million yuan, down 43.33 percent year on year, while net profit attributable to the parent company was only 18.1777 million yuan, tumbling 65.37 percent. The core reason for the decline was a cliff-like contraction in its traditional environmental engineering business. In the first half, flue gas treatment engineering and equipment revenue was 95.2288 million yuan, halving year on year with a drop of 61.65 percent, and its share of revenue fell sharply from 61.32 percent a year earlier to 41.50 percent. Catalyst products generated revenue of 132 million yuan, down 14.96 percent year on year. Although the CCUS business surged 228.04 percent year on year to 1.5154 million yuan, the base was too small to lift overall performance. The company is accelerating its layout in sodium-ion battery cathode materials. The first phase of a project with annual capacity of 20,000 tonnes has started construction, with total investment of about 500 million yuan, of which 34.6854 million yuan was invested in the first half. The company's accounts receivable balance reached 421 million yuan, accounting for 17.38 percent of total assets, while short-term borrowings climbed to 132 million yuan, an increase of 24.5 million yuan from the beginning of the period.
Tongxing Environmental ProtectionFirst-half net profit plunged 65.37% due to a sharp contraction in traditional environmental engineering business.
