Ji'an Mankun Technology Co. Ltd. A

Mankun Technology released its 2026 interim report. Total operating revenue was 942 million yuan, and net profit attributable to the parent company was 43.98 million yuan, down 30.46% from the same period last year. Net cash inflow from operating activities was 47.13 million yuan. The asset-liability ratio was 41.73%, gross margin was 16.66%, return on equity was 2.44%, and diluted earnings per share was 0.30 yuan. The company had 20,100 shareholders, and the top ten shareholders held 69.02% of the shares.

Mankun Technology released its 2026 semi-annual report. In the first half, operating revenue reached 942 million yuan, up 24.0% year on year, but net profit attributable to the parent company was 43.98 million yuan, down 30.5% year on year, and non-GAAP net profit attributable to the parent company was 37.63 million yuan, down 33.8% year on year. Second-quarter operating revenue was 536 million yuan, up 27.8% year on year, while net profit attributable to the parent company was 25.86 million yuan, down 26.2% year on year. The company said the phased pressure on profit was mainly due to strategic and phased factors such as rising raw material prices, the ramp-up of high-end production capacity, and increased R&D investment. Prices of core raw materials such as copper-clad laminates and copper foil rose year on year, and there is a time lag in passing costs downstream. At the same time, the third plant is in a capacity ramp-up phase, with fixed costs such as depreciation and labor being recognized in a concentrated manner, and the scale effect of production capacity has not yet been fully released. The company said it is currently in a critical period of high-end capacity ramp-up and profit release. Customer certification at the third plant is progressing smoothly, the pace of trial production and volume expansion of high-end products is accelerating, and capacity utilization continues to improve steadily. Mid-term profitability will return to a trajectory matching revenue growth.