NARI Technology Co Ltd

NARI Technology released its 2026 interim report, with total operating revenue of 27.767 billion yuan, up 14.54% year-on-year, and net profit attributable to the parent company of 3.073 billion yuan, up 4.08% year-on-year. The company's net cash inflow from operating activities was 591 million yuan, its asset-liability ratio was 40.42%, its gross margin was 25.34%, and diluted earnings per share were 0.38 yuan. The number of shareholders was 433,300, and the top ten shareholders held 71.75% of the total share capital.

On the evening of August 26, several A-share companies disclosed hefty dividend plans. Energy storage leader Deye plans to distribute 16 yuan in cash per 10 shares, totaling 2.037 billion yuan, representing 74.97% of net profit attributable to shareholders for the period. In the first half, the company achieved revenue of 10.641 billion yuan, up 92.23% year on year, with net profit attributable to shareholders of 2.717 billion yuan, up 78.53%. MicroPort Endovascular MedTech plans to distribute 13 yuan per 10 shares, totaling 157 million yuan, or 48.73% of first-half net profit attributable to shareholders. Giant Network plans to distribute 8 yuan per 10 shares, totaling 1.515 billion yuan, or 70.65% of net profit, and also released a shareholder dividend return plan for the next three years. NARI Technology plans to distribute 1.53 yuan per 10 shares, totaling 1.222 billion yuan, with first-half dividends and buybacks combined at 1.261 billion yuan, or 41.03% of net profit attributable to shareholders for the same period. In addition, China CITIC Bank plans to distribute 2.03 yuan per 10 shares, totaling 11.296 billion yuan; New China Life Insurance plans to distribute 7.3 yuan per 10 shares, totaling 2.277 billion yuan; Anhui Conch Cement plans to distribute 1.3 yuan per 10 shares, totaling 680 million yuan; Sinotruk plans to distribute 5.41 yuan per 10 shares, totaling 632 million yuan; Haisco Pharmaceutical plans to distribute 5.26 yuan per 10 shares, totaling 600 million yuan.

NARI Technology announced on the evening of August 14 that it plans to repurchase company shares worth 500 million to 1 billion yuan for an equity incentive plan. The buyback price will not exceed 35.17 yuan per share, the period is within 12 months from the date the board approves the plan, and the funds will come from its own capital. This is NARI Technology's second buyback this year, following the completion of a roughly 500.5 million yuan repurchase in April. The same evening, five small and mid-cap companies, including Haozhi Electromechanical, Guangdong Hongda, Chipmore Technology, Yiming Pharmaceutical, and Xiangshan Co., also disclosed buyback plans, with amounts ranging from 15 million to 150 million yuan.

On the evening of August 14, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important positive announcements. Zhongheng Electric's controlling shareholder Zhongheng Technology Investment received a capital increase of 4.1 billion yuan from CATL, subscribing to 14.4118 million yuan of new registered capital, and the parties signed a strategic cooperation agreement on the same day. Satellite Chemical disclosed its semi-annual report, achieving operating revenue of 30.713 billion yuan in the first half of 2026, up 30.92 percent year on year, with net profit attributable to the parent company of 6.226 billion yuan, up 126.94 percent. Ruijie Networks achieved operating revenue of 8.832 billion yuan in the first half, up 32.83 percent year on year, with net profit attributable to the parent company of 694 million yuan, up 53.54 percent. Huarui Precision's net profit attributable to the parent company in the first half was 238 million yuan, up 178.32 percent year on year. Shengyi Technology's net profit attributable to the parent company in the first half was 3.287 billion yuan, up 130.42 percent. NARI Technology plans to repurchase shares for equity incentives with an amount of 500 million to 1 billion yuan, at a repurchase price not exceeding 35.17 yuan per share. Faway Automobile received a seat project designation from a joint venture brand customer, with an expected total lifecycle sales amount of 2.86 billion yuan. Shaanxi Construction Engineering's subsidiary won the bid for the Yunjing Intelligent Computing Center project worth 1.156 billion yuan. Zhiyang Innovation plans a private placement to raise no more than 904 million yuan, and Fuleide plans to issue convertible bonds to raise no more than 1.176 billion yuan.

Over the past week, Shanghai-listed companies launched 42 new buyback plans with a maximum value of 8.386 billion yuan, and 17 new shareholding increase plans with a maximum value of 7.457 billion yuan, marking a clear acceleration in industrial capital entering the market. The chairman of NARI Technology proposed a buyback of 500 million to 1 billion yuan worth of shares, the chairman of Daqin Railway proposed a buyback of 400 million to 500 million yuan, Sany Heavy Industry plans to repurchase A-shares worth 400 million to 800 million yuan, and Yifeng Pharmacy Chain plans to repurchase shares worth 200 million to 300 million yuan. On the shareholding increase side, the controlling shareholder of China Three Gorges Renewables plans to increase holdings by 1.5 billion to 3 billion yuan, the controlling shareholder of Aluminum Corporation of China plans to increase holdings by 1 billion to 2 billion yuan, and the controlling shareholder of China State Construction Engineering plans to increase holdings by 500 million to 1 billion yuan. Since the beginning of this year, Shanghai-listed companies have disclosed 190 new buyback plans with a total maximum value of 55.5 billion yuan, and 155 new shareholding increase plans with a total maximum value of 22.1 billion yuan.

A wave of share buybacks and shareholder increases continues to surge among companies listed on the Shanghai Stock Exchange, with the pace of industrial capital entering the market notably accelerating. Over the past week, 42 new buyback plans were added on the Shanghai market, with a maximum amount of 8.386 billion yuan, and 17 new shareholder increase plans were added, with a maximum amount of 7.457 billion yuan. Since the start of 2026, the Shanghai market has disclosed 190 new buyback plans, with a combined maximum amount reaching 55.5 billion yuan, and 155 new shareholder increase plans, with a maximum amount of 22.1 billion yuan. Many companies are making big moves. The chairman of NARI Technology proposed a buyback of 500 million to 1 billion yuan, the chairman of Daqin Railway proposed a buyback of 400 million to 500 million yuan, Sany Heavy Industry plans to buy back 400 million to 800 million yuan, and Yifeng Pharmacy Chain plans to buy back 200 million to 300 million yuan. The implementation of funds is also speeding up. Haier Smart Home has cumulatively bought back 1.817 billion yuan in this round, Seres has cumulatively bought back over 587 million yuan, Metallurgical Corporation of China has completed transactions totaling about 415 million yuan, and Chenguang Stationery has paid a total of 288 million yuan. On the shareholder increase side, the controlling shareholder of China Three Gorges Renewables plans to increase holdings by 1.5 billion to 3 billion yuan, the controlling shareholder of Aluminum Corporation of China plans to increase holdings by 1 billion to 2 billion yuan, and the controlling shareholder of China State Construction Engineering plans to increase holdings by 500 million to 1 billion yuan.

On the morning of July 20, several listed central state-owned enterprises including Chalco, CRRC, and China Coal Energy announced shareholding increase plans by their controlling shareholders, while NARI Technology and Sinopec disclosed buyback plans or progress. Chalco's controlling shareholder Chinalco and its concert parties plan to increase their holdings of the company's A-shares and H-shares by 1 billion to 2 billion yuan, with the number of shares not exceeding 2% of total share capital, over a 12-month period. CRRC's controlling shareholder CRRC Group plans to increase its holdings by 150 million to 300 million yuan within the next six months, with no price range set. China Coal Energy's controlling shareholder China Coal Group plans to increase its holdings by 50 million to 100 million yuan. NARI Technology's chairman proposed a buyback of 500 million to 1 billion yuan worth of shares for equity incentives or registered capital reduction. Sinopec disclosed buyback progress, having repurchased a cumulative 77.9 million A-shares as of July 17, 2026, for a total of 365 million yuan, under a buyback plan totaling 500 million to 1 billion yuan. Several companies have recently reported improving performance. Chalco expects first-half net profit of 11.2 billion to 12.2 billion yuan, up 58% to 73% year-on-year, a record high for the period. China Shenhua Energy expects first-half net profit of 26.3 billion to 29.8 billion yuan, up 6.9% to 21.1% year-on-year.

NARI Technology Chairman Zheng Zongqiang has proposed that the company buy back shares worth 500 million to 1 billion yuan. The repurchased shares will be used for future equity incentive plans or to reduce registered capital. The proposal was announced in a morning filing.

Two major state-owned capital operation platforms, China Reform Holdings and China Chengtong Holdings, simultaneously announced large-scale increased holdings of A-shares, injecting strong confidence into the capital market. China Reform Holdings' investment arm has already used over 50 billion yuan from special re-lending for stock buybacks and increased holdings along with supporting funds, and will continue to increase holdings in central enterprise stocks. China Chengtong and its affiliated entities have recently purchased nearly 10 billion yuan of state-owned central enterprise and technology company stocks and ETFs, and will continue to make large additional purchases. Driven by this, many central and state-owned enterprises and industry leaders have intensively disclosed buyback and increased holding plans. Among them, the controlling shareholder of China Coal Energy plans to increase holdings by 50 million to 100 million yuan, the controlling shareholder of CRRC Corporation has an increased holding plan of 150 million to 300 million yuan, the chairman of NARI Technology proposed a buyback of 500 million to 1 billion yuan, the controlling shareholder of China State Construction Engineering plans to increase holdings by 500 million to 1 billion yuan, Huayou Cobalt plans a buyback of 600 million to 1 billion yuan, and the chairman of SANY Heavy Industry proposed a buyback of 400 million to 800 million yuan. Since July, nearly 300 listed companies have implemented share buybacks, with cumulative buyback scale exceeding 15 billion yuan. Midea Group, TCL Technology, and Haier Smart Home rank top three in buyback scale, totaling nearly 4.9 billion yuan. Meanwhile, nearly 120 listed companies have seen net increased holdings by significant shareholders, with the chemical sector becoming the main battleground, and Jiangsu Eastern Shenghong receiving over 300 million yuan in increased holdings. Industry insiders point out that this round of concentrated increased holdings and buybacks by central and state-owned enterprises is a medium- to long-term strategic layout based on long-term economic resilience and aimed at fostering new quality productive forces, with cancellation-type buybacks expected to become the mainstream model.

The China Securities Regulatory Commission recently organised a symposium with representatives from securities fund institutions and listed companies to hear opinions and suggestions on promoting the stable and healthy development of the capital market. Before the market opened on 20 July, five central enterprise listed companies—China Shenhua Energy, CRRC Corporation, Aluminum Corporation of China, NARI Technology, and China Coal Energy—released intensive announcements, sending positive signals through shareholder shareholding increases, share buybacks, cash dividends, and injections of high-quality assets. The previous evening, China Reform Holdings disclosed that it had already used over 50 billion yuan in special re-lending for share buybacks and shareholding increases, along with supporting funds, to maintain market stability, while China Chengtong Holdings disclosed that it had recently purchased nearly 10 billion yuan in onshore stock assets cumulatively. In the brokerage sector, three brokerages—Huaan Securities, Guolian Minsheng Securities, and Sinolink Securities—successively launched buyback plans with a combined maximum amount of 700 million yuan. In the private equity industry, two billion-yuan-level quantitative private equity firms, Lingjun Investment and Pingfanghe Investment, simultaneously announced large-scale self-purchases. Since July, six institutions have made self-purchases totalling 412 million yuan, accounting for nearly 79 percent of the full-year total. Funds entered the market against the trend via exchange-traded funds. Last week, total net inflows into ETFs across the market reached 229.033 billion yuan, of which equity ETFs contributed 203.592 billion yuan, and broad-based ETFs saw net inflows of 156.12 billion yuan in a single week. The latest size of the Huatai-PineBridge CSI 300 ETF reached 99.521 billion yuan. The market adjustment was mainly triggered by external factors such as geopolitical tensions in the Middle East and deleveraging in overseas technology sectors. There has been no trend reversal in the fundamentals of the domestic economy or corporate earnings. The 900 companies on the Shenzhen market that have disclosed half-year earnings forecasts reported total net profits of approximately 230.7 billion yuan, a year-on-year surge of 147 percent.

In early trading on July 20, the three major A-share indices rose. The Shanghai Composite Index gained 1.18%, the Shenzhen Component Index rose 0.21%, and the ChiNext Index climbed 1.13%. Combined turnover on the two exchanges reached 1.67 trillion yuan, with over 2,900 stocks advancing. Sectors such as oil and gas, baijiu, and coal led the gains, while the power sector rebounded collectively. Jiawei New Energy, Huayin Electric Power, and Fuling Electric Power hit their daily limit up. Kweichow Moutai surged over 5% to 1,322.97 yuan. Before the market opened, multiple companies in the power and coal sectors announced plans to increase holdings or conduct buybacks. SDIC Power's controlling shareholder plans to increase its stake by 150 million yuan within six months. China Coal Energy's controlling shareholder plans to increase holdings by 50 million to 100 million yuan within 12 months. NARI Technology's chairman proposed a buyback of 500 million to 1 billion yuan. China Shenhua Energy announced a 2026 coal sales volume target of 618.1 million tonnes, a power generation target of 288.1 billion kilowatt-hours, and an operating revenue target of 360 billion yuan. Longyuan Power plans to distribute annual cash dividends of no less than 30% of net profit attributable to the parent company from 2025 to 2027. In addition, Aluminum Corporation of China's controlling shareholder plans to increase holdings by 1 billion to 2 billion yuan, and CRRC Corporation's controlling shareholder plans to increase holdings by 150 million to 300 million yuan. Both stocks rose over 6% in early trading.