Hunan Changgao High Voltage Switchgear Group Co Ltd

Changgao Electric announced that its wholly-owned subsidiaries Hunan Changgao Electric Co., Ltd., Hunan Changgao High-Voltage Switch Co., Ltd., Hunan Changgao Complete Electrical Equipment Co., Ltd., and Hunan Changgao Senyuan Power Equipment Co., Ltd. have won bids in State Grid Corporation of China's 2026 third public bidding for substation equipment for power transmission and transformation projects, third direct procurement for substation equipment for power transmission and transformation projects, and third public bidding for equipment for ultra-high voltage projects. The wins cover three product categories: gas-insulated switchgear, disconnectors, and switchgear cabinets, with a combined bid amount of 416 million yuan, accounting for 25% of the company's 2025 audited consolidated operating revenue. After formal contracts for the relevant projects are signed, it is expected to have a positive impact on the company's operating performance in 2026 and subsequent years, without affecting independence.

Tianfeng Securities expects its first-half net profit attributable to the parent company to grow between 429.03% and 693.55% year-on-year, reaching 164 million to 246 million yuan. BOE Technology Group expects first-half net profit of 5 billion to 5.5 billion yuan, up 54% to 69% year-on-year. Jiangxi Copper expects first-half net profit attributable to the parent of 7.55 billion to 8.5 billion yuan, an increase of 80.86% to 103.61%. Guide Infrared expects first-half net profit of 1.27 billion to 1.45 billion yuan, surging 601.93% to 701.41%. Shengxin Lithium Energy expects first-half net profit of 1 billion to 1.2 billion yuan, turning around from a loss in the same period last year. Changgao Electric Group expects first-half net profit of 550 million to 580 million yuan, up 421.27% to 449.70%. Maxvision Technology expects first-half net profit of 105 million to 135 million yuan, rising 336.02% to 460.59%. SDG Information expects first-half net profit of 55 million to 71 million yuan, jumping 881.42% to 1,166.93%. Jingce Electronic plans to acquire part of the equity in its controlled subsidiary, Shanghai Jingce Semiconductor Technology, which is expected to constitute a major asset restructuring and a related-party transaction. Trading in the company's shares and convertible bonds will be suspended from July 9. Suntak Technology said its current capacity utilization rate is around 90%, and it is promoting the release of high-layer-count PCB capacity at its Zhuhai plants one and two, while planning to build a new HDI factory.

Changgao Electric disclosed its earnings forecast, expecting net profit attributable to the parent for the first half of 2026 to be between 550 million and 580 million yuan, a year-on-year increase of 421.27% to 449.7%. Deducted non-recurring net profit is expected to be between 135 million and 150 million yuan, up 35.43% to 50.48% year-on-year. The profit growth is mainly due to the recovery in the delivery pace of power transmission and transformation equipment, which boosted main business revenue and profitability, as well as non-recurring gains totaling about 420 million yuan from the sale of part of its stake in associate company Fute Technology. The company also cautioned that significant fluctuations in the share price of Fute Technology during the subsequent holding period could increase the risk of future earnings volatility.