Shandong Luyang Share Co Ltd

Luyang Energy-Saving released its 2026 interim report. Total operating revenue was 946 million yuan, down 19.31% from the same period last year. Net profit attributable to the parent company was 5.6924 million yuan, down 92.57% year on year. Net cash flow from operating activities was negative 3.4484 million yuan, down 128.33% year on year. The company's latest asset-liability ratio was 21.73%, gross margin was 20.49%, return on equity was 0.24%, and diluted earnings per share was 0.01 yuan. The number of shareholders was 16,800, and the top ten shareholders held 73.00% of the total share capital.

On the evening of July 28, multiple listed companies on the Shanghai and Shenzhen stock exchanges issued important announcements. Luyang Energy-Saving's indirect controlling shareholder Ulysses filed for bankruptcy restructuring in the United States, with the process expected to conclude in about 60 days. Wanma Co.'s subsidiary plans to invest in building a factory with an annual output of 100,000 tons of premium cable materials and a Qingdao submarine cable insulation material project, with total investments of approximately 450 million yuan and 370 million yuan respectively. ST Doushen plans to carry out a debt restructuring, expecting a gain of about 56.7021 million yuan. Sanyou Chemical's controlling subsidiary intends to purchase a 31% stake in Sanyou New Materials, raising its shareholding to 51%. Tianjin Motor Dies' acquisition of a 60% stake in Dongshi Automotive Technology Group Co., Ltd. has received a decision of no further review from antitrust authorities. Dongjian Technology has received a refund of U.S. tariffs and interest totaling 3.3927 million U.S. dollars. The chairman of Haohua Energy proposed an interim dividend for 2026 of no less than 20% of half-year net profit. Pu Lian Software, Beiken Energy, and Xintian Technology all remain suspended from trading due to planned changes in control. Jinpu Titanium's wholly-owned subsidiary Xuzhou Titanium Dioxide has temporarily halted production for rectification due to excessive fluoride in discharged wastewater. Jiuzhou Yigui plans to invest no more than 630 million yuan in an advanced semiconductor wafer laser stealth dicing industrialization project. Daimei Co. intends to acquire a 100% stake in Rongming Technology. The actual controller of Yuxin Co. proposed an interim dividend of no less than 30% of first-half net profit. Sunway Biotech plans to acquire a partial stake in Biling Biotech for 10 million yuan. Leon Technology plans to raise no more than 255 million yuan through a private placement to invest in projects such as an artificial intelligence computing power resource pool. Hongfuhan's liquid cooling business orders are progressing steadily. Dongfang New Energy, which hit two consecutive daily limit-up moves, announced that it is not involved in businesses related to tourism, sponge cities, or Beijing urban planning. ST Energy Conservation will have its delisting risk warning removed starting July 30. On the earnings front, Kingsoft Office expects first-half net profit to increase by 209.98% to 263.89% year-on-year; Zhonghong Medical expects a surge of 2,338% to 3,557%; Hesheng New Materials reported net profit of 136 million yuan, up 40.42%; Juchen Semiconductor expects a 156.07% increase; Haibosichuang expects growth of 96.3% to 121.63%; Sanwei Xin'an narrowed its losses year-on-year; Tapai Group's net profit was 219 million yuan, down 49.6%; Sifang Technology's net profit was 86.2916 million yuan, up 24.48%; Power Diamond's net profit was 90.0816 million yuan, up 247.61%; Universal Scientific Industrial's net profit rose 28.85%; and Bio-Thera Solutions expects a loss of 230 million to 290 million yuan. Regarding shareholding changes, BOE Technology's controlling shareholder plans to increase holdings by 500 million to 1 billion yuan; Zhongji Innolight's chairman proposed a buyback of 4 billion to 8 billion yuan; Hailiang Co.'s controlling shareholder plans to increase holdings by 600 million to 1 billion yuan; Chongqing Port plans a buyback of 20 million to 30 million yuan and its indirect controlling shareholder plans to increase holdings; Guocheng Mining plans a buyback of 300 million to 600 million yuan; Pulite's actual controller committed not to reduce holdings within one year; Wondfo Biotech's controlling shareholder plans to increase holdings by 20 million to 40 million yuan; Guanshi Technology obtained special buyback financing support of no more than 27 million yuan; a controlling subsidiary of Yandong Micro's controlling shareholder plans to increase holdings by 150 million to 300 million yuan; Kedali plans a buyback of 150 million to 300 million yuan; Vanchip plans a buyback of 80 million to 100 million yuan; Shuangyi Technology plans a buyback of 30 million to 50 million yuan; Dong Yi Ri Sheng's shareholder Tianjin Chen has not reduced holdings and terminated the reduction plan early; Zhongsheng Gaoke's controlling shareholder plans to increase holdings by no less than 30 million yuan; and ST Tianjian's controlling shareholder and shareholders plan to transfer a total of 14.77% of the company's shares through an agreement. On the major contract front, Shenghui Integration won a bid for a major engineering project worth 858 million yuan, and China State Construction signed a contract for the North Kabd Wastewater Treatment Plant and supporting projects in Kuwait, with a contract value of approximately 22.4 billion yuan.

Luyang Energy-Saving disclosed that its indirect controlling shareholder, Ulysses Investment Holdco, Inc., filed a voluntary petition for bankruptcy restructuring with the U.S. Bankruptcy Court for the Northern District of Texas on July 26. The court-supervised restructuring process is expected to be completed within about 60 days. The company received a notification letter from its controlling shareholder, Unifrax Asia-Pacific Holding Limited, on July 27, informing it of the above matter. This bankruptcy restructuring involves a change in the company's actual controller, and there is still uncertainty at present. The company reminds investors to be aware of the risks.

Luyang Energy-Saving announced that its indirect controlling shareholder, Ulysses, is planning a bankruptcy restructuring, which may lead to a change in the company's actual controller. If the restructuring succeeds, the current actual controller will no longer hold equity in Ulysses, and the company may shift from having an actual controller to having no actual controller. The controlling shareholder, Unifrax Asia-Pacific, will continue to hold 52.66% of the company's shares and maintain its position as controlling shareholder. Currently, Ulysses is maintaining normal operations, and this matter will not have a material impact on the company's daily production and operations.

Luyang Energy-Saving disclosed an earnings forecast, expecting attributable net profit for the first half of 2026 to be between 4 million and 6 million yuan, a year-on-year decline of 92.17% to 94.78%. Deducted non-recurring net profit is expected to be between 5.8 million and 7.8 million yuan, a year-on-year decline of 89.48% to 92.18%. The company said the profit decline was mainly due to lower operating revenue caused by the market environment and end-user industries, while product selling prices were under pressure and changes in the sales product mix narrowed profitability. Meanwhile, operating costs and expenses could not be reduced proportionally because of their strong fixed-cost nature.