Ningbo Fubang

Ningbo Fubang released its 2026 interim report, with net profit attributable to the parent company at 58.5124 million yuan, up 504.48 percent from the same period last year. The company's total operating revenue was 1.025 billion yuan, a year-on-year increase of 91.04 percent, marking four consecutive years of growth. Net cash outflow from operating activities was 266 million yuan, an increase of 244 million yuan compared to the same period last year. The latest asset-liability ratio is 51.52 percent, gross margin is 17.72 percent, ROE is 12.15 percent, and diluted earnings per share is 0.44 yuan.

Ningbo Fubang disclosed its 2026 semi-annual report, achieving operating revenue of 1.025 billion yuan, up 91.04 percent year-on-year, with net profit attributable to shareholders of the listed company at 58.51 million yuan, a surge of 504.48 percent, essentially matching the full-year 2025 profit level. The core driver of the strong performance was the volume-driven growth of the new electrical contact materials main business, which accounted for 80.77 percent of total company revenue. The controlling subsidiary Ningbo Electrical Alloy achieved operating revenue of 829 million yuan, up 126.37 percent year-on-year, and net profit attributable to the parent of 108 million yuan, a jump of 288.44 percent. The company's stock short name is proposed to be changed to Fubang New Materials, a move already approved by the shareholders' meeting, marking the strategic transformation of divesting the traditional aluminum business and focusing on new materials such as electrical contact materials. The company's electrical contact products already cover the top six core manufacturers by market share in the domestic relay industry, and have entered the supply chains of leading enterprises such as Huawei and Sungrow Power. Self-developed safety relay supporting components have achieved large-scale mass production, accelerating import substitution.

Ningbo Fubang disclosed an earnings forecast, expecting net profit attributable to owners of the parent company in the first half of 2026 to be between 50 million yuan and 60 million yuan, a year-on-year increase of 416.54% to 519.85%. During the reporting period, the company's core business has shifted primarily to the production and sales of electrical contact materials, and the original low-efficiency asset, the aluminum profile processing business, has been fully divested. The holding subsidiary Ningbo Electrical Alloy Materials Company has been deeply cultivating its niche segment. Benefiting from the optimization of industry supply and demand patterns brought about by silver price fluctuations, it has continuously optimized its product structure, promoted cost control and operational efficiency improvements, leading to a significant release of revenue scale and profitability in the first half. The combination of these factors jointly drove the relatively rapid growth of the company's overall operating performance.

On the evening of July 12, multiple listed companies on the Shanghai and Shenzhen exchanges released important announcements. StarNeto clarified that its satellite communication business is unrelated to the breakthrough in sea recovery technology for the Long March 10B carrier rocket, and that revenue from new businesses such as the low-altitude economy accounts for less than 5%. Zhezhong Co., Ltd. cautioned that there is uncertainty in converting new orders signed in 2026 into revenue, and that revenue from its main business of complete switchgear has continued to decline. Juli Sling was fined 4.5 million yuan by the Hebei Securities Regulatory Bureau for misleading statements on an interactive platform. The controlling shareholder of Western Region Gold, Xinjiang Nonferrous Metals, plans to merge entirely with Xinjiang Geology and Mining Investment Group, with the actual controller remaining unchanged. In terms of earnings, Yuehai Feed's net profit for the first half of the year is expected to increase by 965.92% to 1302.52%, Ningbo Fubon is expected to increase by 416.54% to 519.85%, Shanshan Co., Ltd. is expected to increase by 262% to 334%, Sanyou Chemical is expected to increase by about 129%, Yalian Machinery's flash report shows net profit growth of 60.06%, Shengnuo Bio is expected to increase by 43.23% to 64.79%, and both Rundu Pharma and China Satellite are expected to turn losses into profits year-on-year. In addition, Taikang Life Insurance plans to reduce its stake in Guoke Hengtai by no more than 3%, and Hengtong Co., Ltd. plans to invest in a digital smart industrial park in Indonesia, with a planned investment of no more than 2 billion yuan.

On the evening of July 12, several A-share listed companies disclosed earnings forecasts, sharply raising their first-half performance estimates. Ningbo Fubang expects net profit of 50 million to 60 million yuan, up 416.54% to 519.85% year-on-year, with its core business having shifted to the production and sale of electrical contact materials. Shanshan Co. expects net profit of 750 million to 900 million yuan, up 262% to 334% year-on-year, with its two main businesses, anode materials and polarizer operations, together expected to achieve net profit of 880 million to 950 million yuan. Yuehai Feed expects net profit of 38 million to 50 million yuan, up 965.92% to 1,302.52% year-on-year. In addition, Sanyou Chemical's net profit is expected to rise about 129% year-on-year, Shengnuo Bio's net profit is expected to rise 43.23% to 64.79% year-on-year, and both China Satellite and Rundu Pharma expect to turn losses into profits year-on-year. Yalian Machinery disclosed a performance flash report, with first-half revenue of 515 million yuan, up 36.93% year-on-year, and net profit of 157 million yuan, up 60.06% year-on-year.

Ningbo Fubang announced that it has received a dividend of 11 million yuan from its controlling subsidiary, Ningbo Electrical Alloy Materials. As of the end of 2025, Electrical Alloy had distributable profits of 152 million yuan. The shareholders' meeting resolved to distribute 20 million yuan in profits, and with the company's 55 percent stake, it received a dividend of 11 million yuan. This dividend will increase the parent company's net profit for 2026, but will not affect the consolidated net profit.