Today's Focus: 1. Hunan Gold announced that it expects its net profit attributable to shareholders for the first quarter of 2026 to be between 532 million yuan and 631 million yuan, representing a year-on-year increase of 60% to 90%. The performance growth was primarily due to a rise in the selling prices of the company's gold, antimony, and tungsten products compared to the same period last year.
2. Zhongji Innolight reported revenue of 19.496 billion yuan for the first quarter of 2026, a year-on-year increase of 192.12%. Net profit attributable to shareholders was 5.735 billion yuan, up 262.28% year-on-year. The performance change was mainly attributed to strong investment in computing power infrastructure by end customers, leading to continued growth in the company's product shipments.
3. Yonghui Superstores announced revenue of 13.367 billion yuan for the first quarter of 2026, a year-on-year decrease of 23.53%. Net profit attributable to shareholders was 287 million yuan, an increase of 94.40% year-on-year. The rise in profit-related indicators was primarily due to two factors: the completion of optimization adjustments for 327 stores and the closure of 626 underperforming stores by the end of March 2026, improving the store network; and initial results from supply chain reforms, with gross profit margin increasing by 1.27 percentage points year-on-year due to enhanced product competitiveness and a growing proportion of sales from private-label brands. These combined factors led to an improvement in the company's profitability.
4. Biwin Storage announced that shareholders Sun Jing, Shenzhen Baisheng, Shenzhen Baitai, Shenzhen Taidesheng, and Shenzhen Fangtailai plan to reduce their holdings in the company. Specifically, Sun Jing intends to sell up to 4.7084 million shares (1.00% of total share capital); Shenzhen Baisheng up to 523,200 shares (0.11%); Shenzhen Baitai up to 2.0926 million shares (0.44%); Shenzhen Taidesheng up to 732,400 shares (0.16%); and Shenzhen Fangtailai up to 1.3602 million shares (0.29%). The reductions will be conducted through block trades and centralized bidding from May 14, 2026, to August 13, 2026, for personal financial needs.
5. ST Kaiyuan announced that its preliminary estimates indicate its net assets at the end of 2025 may be negative. If audited results confirm negative net assets, the company's shares will be subject to delisting risk warnings by the Shenzhen Stock Exchange. The audit for the 2025 annual report is ongoing, and final financial data will be based on the officially disclosed audited report.
6. Eastern Shenghong announced that its controlling shareholder, Shenghong Technology, and its acting-in-concert party, Shenghong Suzhou, plan to increase their holdings of the company's A-shares within six months from the announcement date. The total planned increase is between 980 million yuan and 1.96 billion yuan, with Shenghong Technology contributing 690 million to 1.38 billion yuan and Shenghong Suzhou contributing 290 million to 580 million yuan. Prior to the increase, their combined stake was 50.24%. The plan has no price range, and funding will come from自有 funds and special loans.
7. Honghe Technology disclosed its main operating data for the first quarter of 2026. From January to March 2026, the company produced 46.881 million meters of electronic-grade glass fiber cloth and sold 44.49 million meters, generating revenue of 434.9674 million yuan (approximately 435 million yuan). The average selling price of the product rose to 9.78 yuan per meter from 4.51 yuan per meter in the same period last year, an increase of 116.85%. The average purchase price of the main raw material, electronic-grade glass fiber yarn, increased to 53.83 yuan per kilogram from 17.56 yuan per kilogram, a rise of 206.55%.
8. Wangda Software revised its 2025 net profit forecast to between 3.5 million yuan and 6 million yuan, down from a previous forecast of 10.5 million yuan to 15.5 million yuan. After reassessment, the company expects 2025 revenue to be between 250 million yuan and 260 million yuan, below 300 million yuan, and expects net profit after non-recurring gains or losses to be between -2.5 million yuan and -1 million yuan. The company's shares may be subject to delisting risk warnings. If this occurs, trading will be suspended starting from the disclosure date of the 2025 annual report, and the warning will be applied within five trading days.
9. ST Lianhe announced that its shares will be suspended for one day on April 17 and will resume trading on April 20 with the removal of the Other Risk Warning. Following the removal, the A-share abbreviation will change from "ST Lianhe" to "CITS Lianhe," with the stock code remaining "600358." The shares will be traded outside the risk warning board, and the daily price fluctuation limit will change from 5% to 10%. The warning was initially imposed on March 18, 2025. As 12 months have passed since the penalty decision, the company has completed the restatement of relevant annual financial reports and met the conditions for removal, which was approved by the Shanghai Stock Exchange on April 16.
10. Jinko Power Technology announced the signing of an investment agreement with the Zhongwei Municipal Government for a 1GW computing power center project in Ningxia Zhongwei, with a total planned investment of approximately 24.5 billion yuan. The project, covering about 800 acres, plans to deploy approximately 50,000 cabinets in three phases. The company, as the lead investor, will promote preliminary work and introduce strategic partners. The project aims to build a "new energy + computing power" synergistic ecosystem, facilitating the company's transition towards green computing and comprehensive energy services. Given the large scale and prerequisites like national approvals, land acquisition, and partner introduction, the final plan may be significantly adjusted or terminated and is not expected to significantly impact current finances.
11. Ganfeng Lithium expects a first-quarter net profit between 1.6 billion yuan and 2.1 billion yuan, a turnaround from a loss of 360 million yuan in the same period last year. This improvement is due to rapid global new energy industry development, strong growth in downstream customer demand for lithium salts, significantly higher selling prices for the company's lithium salt products, optimized cost structure from capacity release of lithium resource projects, and increased production and sales in the power battery and energy storage markets.
12. Guosheng Technology issued a stock trading anomaly announcement, stating that upon self-inspection, its main business and fundamentals have not undergone significant changes. Its photovoltaic business includes the R&D, production, and sales of large-size high-efficiency heterojunction (HJT) photovoltaic cells, and the production and sales of HJT, TOPCon, and PERC modules, primarily applied in large-scale ground power stations, offshore power stations, distributed generation, and rooftop systems. Its landscaping business involves engineering construction and landscape design.
13. Liyuan Shares announced that preliminary calculations by its finance department indicate that its audited net profit for 2025 may be negative, and revenue after deductions may fall below 300 million yuan. Consequently, its shares may be subject to delisting risk warnings.
14. Yuntianhua announced the introduction of Dangsheng Technology as a partner to jointly advance the construction of new energy battery material projects. Dangsheng Technology intends to acquire a 49% stake in controlling subsidiary Juneng New Materials and a 51% stake in associate company Youtian Technology from Zhejiang Youshan, with Yuntianhua waiving its preemptive rights. Post-transaction, Juneng New Materials will invest in building a 200,000-ton per year high-performance phosphoric iron new material precursor project with an estimated total investment of 1.839 billion yuan, and Youtian Technology will invest in a 150,000-ton per year lithium iron phosphate project with an estimated total investment of 2.654 billion yuan. The combined investment is approximately 4.493 billion yuan. This investment aims to leverage the company's phosphorus resource advantages and enhance its new energy industry chain layout.
15. Star Group expects its net profit attributable to shareholders for 2025 to be approximately -120 million yuan to -180 million yuan, and net profit after non-recurring items to be approximately -116 million yuan to -174 million yuan. It expects 2025 revenue to be between 80 million yuan and 100 million yuan. The company's shares may be subject to delisting risk warnings.
16. Xingyun Technology announced that it recently noted个别 media reports online containing inaccurate information. Regarding these false reports and misleading information, the company has taken necessary legal and responsive measures and will pursue legal action against relevant parties to protect the interests of the company and all investors.
17. *ST Songfa announced that its shares will have the delisting risk warning removed on April 20, 2026. Upon resumption of trading, the stock abbreviation will change from "*ST Songfa" to "Songfa Shares," and the daily price fluctuation limit will change from 5% to 10%. The removal is based on the company's 2025 performance, which met the application criteria.
18. Huayou Cobalt reported revenue of 25.804 billion yuan for the first quarter of 2026, a year-on-year increase of 44.62%. Net profit attributable to shareholders was 2.497 billion yuan, up 99.45% year-on-year. The performance change was mainly due to increased product sales volume, a recovery in metal prices, and the continued benefits of the company's integrated industrial operations, particularly from the rebound in nickel, cobalt, and lithium prices.
19. Fawer Automotive Parts announced that it secured 85 new orders in the first quarter of 2026, with an estimated total lifecycle revenue of 16.75 billion yuan. Among these, 52 orders were from non-traditional markets, with estimated lifecycle revenue of 8.8 billion yuan; new energy-related orders accounted for 66.3%. Key customer orders included FAW-Volkswagen (6.3 billion yuan), Seres (2.51 billion yuan), Chery (1.63 billion yuan), Geely (1.08 billion yuan), Volkswagen Germany (650 million yuan), CATL (570 million yuan), NIO (550 million yuan), and FAW Toyota (540 million yuan). Technological breakthroughs in smart chassis, smart connectivity, and comprehensive thermal management are expected to drive the company's market transformation and new energy business layout.
20. Lakala reported revenue of 1.614 billion yuan for the first quarter of 2026, a year-on-year increase of 24.2%. Net profit attributable to shareholders was 595 million yuan, up 490.97% year-on-year. The company's main business showed positive trends. Domestic comprehensive acquiring transaction volume reached 1.12 trillion yuan, up 14% year-on-year. Cross-border payment and foreign card acquiring businesses maintained rapid growth, with the number of merchants served increasing by 62% and 37% year-on-year respectively, and transaction volume growing by 39% and 98% year-on-year respectively.
Trading Suspension & Risk Alerts: 1. Western Gold: The timing for resuming production at a suspended subsidiary remains uncertain, which may adversely affect profits. 2. Wangda Software: Shares may face delisting risk warnings. 3. ST Kaiyuan: Shares may face delisting risk warnings. 4. Liyuan Shares: Shares may face delisting risk warnings. 5. Guosheng Technology: Main business and fundamentals remain unchanged. 6. ST Quanwei: Shares may face delisting risk warnings. 7. Xingyun Technology: Refuted inaccurate media reports and has taken legal measures.
Key Company Performance Overview: 1. Huadong CNC: Recognized 6.0716 million yuan in asset impairment provisions for 2025, accounting for 71.48% of the 2024 net profit. 2. Zhejiang New Energy: Q1 power generation was 2.416 billion kWh, down 1.83% year-on-year. 3. People's Tongtai: Q1 net profit was 48.464 million yuan, up 5.72% year-on-year. 4. Zhongce Rubber: 2025 net profit was 4.147 billion yuan, up 9.51% year-on-year. 5. Yuyuan Tourist Mart: Q1 net profit was 157 million yuan, up 202.87% year-on-year. 6. Huisheng Biological: 2025 net profit was 253 million yuan. 7. Lier Technology: Plans to repurchase 25-30 million yuan worth of shares for cancellation. 8. Yinbang Shares: Q1 net profit was 54.6615 million yuan, up 274.13% year-on-year. 9. Haitong Development: Q1 net profit was 210 million yuan, up 211.06% year-on-year. 10. Biaobang Shares: 2025 net profit was 119 million yuan, down 2.35% year-on-year. 11. Xin Hongye: 2025 net profit was 133 million yuan, up 14.13% year-on-year. 12. Niwei CNC: 2025 net profit was 304 million yuan, down 6.43% year-on-year. 13. Jinhuijiu: Q1 net profit decreased by 12.51% year-on-year. 14. Wireless Media: 2025 net profit was 262 million yuan, up 0.03% year-on-year. 15. Xin Feng Ming: 2025 net profit was 1.018 billion yuan, down 7.42% year-on-year. 16. 37 Interactive Entertainment: 2025 net profit was 2.9 billion yuan, up 8.50% year-on-year. 17. China Shenhua: March commercial coal output was 28 million tons, down 4.8% year-on-year. 18. Xingye Shares: 2025 net profit was 102 million yuan, up 150.60% year-on-year. 19. Honghe Technology: Sold 44.49 million meters of electronic-grade glass fiber cloth, generating revenue of 435 million yuan. 20. Tongfu Microelectronics: 2025 net profit was 1.219 billion yuan, up 79.86% year-on-year.
Share Repurchases & Stake Changes: 1. Yongchuang Intelligent: Kangchuang Investment plans to increase holdings by 10-20 million yuan. 2. Gaote Testing: Chairman Zhang Xu's stake decreased from 22.50% to 21.27%. 3. Eastern Shenghong: Controlling shareholder and acting-in-concert parties plan to increase holdings by 980 million to 1.96 billion yuan. 4. Compass: Controlling shareholder's inquiry-based transfer priced at 85.11 yuan per share. 5. Tongda Shares: Shareholder Huasheng Baili plans to reduce holdings by up to 3%. 6. Gongda Electroacoustic: Acting-in-concert party Wei Hao Chuangxin plans to increase holdings by 150-250 million yuan. 7. Yonghui Superstores: Plans to divest its entire stake in Hongqi Chain at an opportune time.
Major Contract Awards: 1. Gaotie Electric: Won a project valued at 51.115 million yuan. 2. Jinko Power Technology: Reached a cooperation intent for the Ningxia Zhongwei 1GW computing power center project, with planned total investment of approximately 24.5 billion yuan. 3. Aiko Solar: Subsidiary signed a 45.9 million yuan equipment procurement contract with related party Suzhou Puyite. 4. Shaanxi Construction Engineering: Newly signed contracts from Jan-Mar 2026 totaled 45.346 billion yuan.
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