SuZhou ChunXing Precision Mechanical Co Ltd

ST Chunxing released its 2026 interim report. First-half operating revenue was 956 million yuan, down 2.2 percent year on year, while net loss attributable to the parent widened to 156 million yuan from 129 million yuan a year earlier. In the second quarter, operating revenue was 502 million yuan, down 3.7 percent year on year, and net loss attributable to the parent widened to 106 million yuan from 82.55 million yuan a year earlier. As of the end of the second quarter, total assets stood at 4.052 billion yuan, down 12.3 percent from the end of last year, and net assets attributable to the parent were negative 528 million yuan, down 36.0 percent from the end of last year. The company said its mobile communications business remains focused on radio frequency technology, while its auto parts business continues to cooperate with multiple new energy vehicle manufacturers. Net cash flow from operating activities was 56.37 million yuan, up 265.3 percent year on year, mainly due to a decrease in cash paid for goods. Management acknowledged uncertainty over its ability to continue as a going concern and said it will take measures to optimize the business structure.

Jangho Group disclosed its first-half 2026 results, achieving operating revenue of 10.824 billion yuan, up 15.90% year-on-year, and net profit attributable to shareholders of the listed company of 441 million yuan, up 34.34% year-on-year. Jianxin Chemical reported net profit of 47.8701 million yuan for the same period, surging 790.27% year-on-year, with operating revenue of 360 million yuan, up 51.42% year-on-year. Foxconn Industrial Internet posted first-half net profit of 23.74 billion yuan, up 95.99% year-on-year, and operating revenue of 557.861 billion yuan, up 54.63% year-on-year. Yongjie New Materials shareholders Qianhai Equity Fund, Zhongyuan Qianhai Fund, and Qilu Qianhai Fund plan to collectively reduce their holdings by no more than 5.9441 million shares, representing 3% of total share capital. Biwin Storage intends to use 200 million to 250 million yuan of its own or self-raised funds to repurchase shares for capital reduction, with a repurchase price not exceeding 468.24 yuan per share. Longsys has obtained a commitment letter from China Construction Bank Shenzhen Branch for a special share repurchase loan of up to 720 million yuan, following the company's earlier plan to repurchase shares worth 400 million to 800 million yuan for equity incentives. Chunxing Precision was sued over a subsidiary's loan contract dispute, involving principal of 166 million yuan plus interest, with the company bearing joint guarantee liability. Anhui Construction Engineering Group Vice General Manager He Hongchun has been detained and resigned from his position; the company stated that this does not affect daily operations. Sinomach Automobile's investee company Xinbang Kechuang has been accepted by the court for bankruptcy liquidation filing, and the company has already adjusted the carrying amount of its long-term equity investment in Xinbang Kechuang to zero. Golden Laser's actual controller Liang Wei was sentenced to three years and nine months in prison in the final trial for market manipulation, fined 12 million yuan, and ordered to disgorge illegal gains; during the manipulation period, he cashed out approximately 115 million yuan through share reductions.

Chunxing Precision and its subsidiary Jinzhai Chunxing have been sued by Jinzhai Huijin Investment Co., Ltd. over a loan contract dispute, with the total amount involved reaching approximately 166 million yuan. According to the announcement, between 2019 and 2022, Jinzhai Chunxing signed multiple loan contracts with the plaintiff, with the total principal amounting to about 166 million yuan. From 2025 to 2026, Jinzhai Chunxing entered into several chattel mortgage contracts with the plaintiff using all of its equipment. The plaintiff is seeking a court order for Jinzhai Chunxing to repay all loan principal and interest, and for Chunxing Precision to bear joint guarantee liability. The case has been accepted by the court but has not yet been heard.