Dajin Heavy Industry (DAJIN) (01081) shares surged as much as 6% during intraday trading, and as of press time, the stock was up 3.65% at HK$23.84 with a turnover of HK$48.76281 million.
Dajin Heavy Industry released its 2026 third-quarter report, showing that revenue for the first three quarters totaled RMB 4.363 billion, down 5.05% year-on-year, while net profit attributable to shareholders was RMB 710 million, down 19.97% year-on-year. For the third quarter alone, the company recorded revenue of RMB 1.111 billion, down 36.68% year-on-year, and net profit attributable to shareholders of RMB 110 million, down 67.85% year-on-year. The company stated that the decline in performance was mainly attributable to a phased drop in quarterly deliveries and differences in order structure, while exchange rate fluctuations also had a certain impact on net profit. Excluding the impact of exchange rates, the company achieved net profit of approximately RMB 860 million for the first three quarters of 2026, up about 6% year-on-year.
Dajin Heavy Industry also announced that Jin Xin, the company's actual controller and chairman of the board, has proposed a buyback of the company's H shares, with the number of shares to be repurchased not exceeding 10% of the total issued H shares of the company as of the date the H-share buyback authorization is approved.
Guojin Securities believes that since September, the company's Poland BCWind and NSCB projects have gradually commenced shipping, while the company's own transport vessels KINGTWO and KINGTHREE have successively been launched and undertaken shipping duties. It is expected that the company's revenue and profitability are likely to see a significant recovery in Q4.
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