Xiangteng New Materials announced its 2026 interim report on August 26. First-half operating revenue reached 324 million yuan, up 16.5 percent year on year, but net profit attributable to the parent swung from a loss of 11.69 million yuan a year earlier to a loss of 22.57 million yuan. Net profit attributable to the parent after deducting non-recurring items also widened from a loss of 11.64 million yuan to a loss of 23.07 million yuan, while net operating cash flow was negative 43.95 million yuan, down 460.02 percent year on year. Second-quarter revenue was 169 million yuan, up 20.0 percent year on year, and the net loss attributable to the parent was 13.1 million yuan, widening from a loss of 9.47 million yuan in the same period last year. The company said the loss was mainly affected by depreciation of fixed assets, higher utility costs, exchange-rate fluctuations and foreign-exchange losses, and intensifying market competition, but its main business has not undergone major changes. Its main products include polarizers, optical films and functional adhesive materials.
Jiangsu Topfly New MaterialsCompany's net loss widened significantly due to depreciation, higher utility costs, FX losses, and competition.
