Sichuan Huati Lighting Tech

Huati Technology released its 2026 interim report, showing operating revenue of 283 million yuan, up 46.4 percent year on year, but net profit attributable to the parent company widened to a loss of 28.22 million yuan, compared with a loss of 25.11 million yuan in the same period last year. Net profit attributable to the parent after deducting non-recurring items was a loss of 22.08 million yuan, narrowing from 27.48 million yuan a year earlier. Net operating cash flow was negative 48.38 million yuan, an improvement of 46.1 percent year on year. The company said sales growth in charging piles and energy storage products drove the revenue increase, but changes in the market environment and intensifying industry competition led to a decline in gross margin, while the lithium ore processing business posted losses due to market fluctuations.

Huati Technology has filed a lawsuit over a dispute concerning contractually agreed repurchase payments. The defendants are Chengdu Tianfu Greenway Construction Investment Group and Chengdu Xingcheng Investment Group. The amount involved is 250 million yuan, accounting for 33.88 percent of the company's most recent audited net assets. The company is demanding payment of the outstanding amount plus corresponding interest and liquidated damages. The case has been accepted but has not yet been heard. In the first quarter of 2026, Huati Technology achieved revenue of 144 million yuan and a net loss attributable to the parent company of 14.11 million yuan.

Huati Technology disclosed its earnings forecast, expecting a net loss attributable to shareholders of 20 million to 30 million yuan for the first half of 2026, compared with a loss of 25.1088 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 16 million to 24 million yuan, compared with a loss of 27.4807 million yuan a year earlier. The company stated that due to the market environment, intensified competition has led to a decline in overall product gross margin and profitability, while personnel restructuring has resulted in significant expenses. In addition, the lithium ore processing business has been affected by fluctuations in the lithium ore market, with changes in related futures prices recognized in current profit or loss.