Sichuan Xichang Electric Power Co Ltd

Xichang Electric Power released its 2026 interim report, with net profit attributable to the parent company of 6.5701 million yuan, up 102.69% from the same period last year, achieving growth for three consecutive years. The company's total operating revenue was 688 million yuan, down 5.33% year on year; net cash inflow from operating activities was 143 million yuan, down 34.22% year on year. The latest asset-liability ratio was 64.66%, down 2.43 percentage points from the same period last year; gross margin was 16.87%, down 1.59 percentage points from the same period last year; ROE was 0.53%, up 0.27 percentage points from the same period last year. Diluted earnings per share was 0.02 yuan, up 102.25% year on year.

On July 17, Ai Ai Precision Seals opened at its daily limit-up, securing its fourth consecutive limit-up, closing at 44.92 yuan per share with a latest market cap of 5.87 billion yuan. Earlier, the company disclosed progress on a change of control: actual controllers Tu Mulin and Cai Ruimei, a married couple, plan to transfer their equity, and the controlling shareholder will change to Shanghai Yusheng Tongfeng Metal Materials Technology Co., Ltd., with the actual controller changing to Yuan Yuan. After the change, Shanghai Yusheng will hold 40% of Ai Ai Precision Seals. The power sector saw a sudden surge, with Huayin Electric Power hitting its limit-up, sealed by over 900,000 lots of buy orders. Leshan Electric Power and Shennandian A also hit their limit-ups, while Hangzhou Thermal Power and Xichang Electric Power rose in tandem. On the news front, the National Energy Administration released data showing that total electricity consumption in June reached 898.1 billion kilowatt-hours, up 3.7% year-on-year, with electricity use in charging and battery swap services and internet data services surging 57.1% and 41.4% respectively. The on-device hardware concept was active, with AI phones and glasses leading the gains. Mio Exhibition hit a 20% limit-up, and Daoming Optics rose for a second consecutive limit-up. The Cyberspace Administration of China released filing information for seven mobile on-device generative AI services, including Apple Intelligence and Huawei's Xiaoyi AI large model. The smart driving concept was also active, with Soling Shares hitting its limit-up. On the news front, a Huawei executive said that autonomous driving will see rapid iteration, with low-speed L4 pilot programs in urban areas starting in 2026.

Xichang Electric Power disclosed its earnings forecast, expecting net profit attributable to the parent for the first half of 2026 to be 6.5 million yuan, up 100.62% year-on-year. Deducted non-recurring profit is expected to be 3.7 million yuan. The company said the profit growth was mainly driven by strengthened comprehensive budget management, which reduced non-production controllable expenses by 24.46% year-on-year, enhanced fund management that lowered financial expenses by about 11.98%, and optimization of the electricity mix, which cut purchased electricity volume by about 9.01% year-on-year.