Dajin Heavy Industry (01081) Shares Briefly Jump Over 6% After Chairman Proposes H-Share Buyback of Up to 10% of Total; Shipping Pace and FX Weigh on Results

Dajin Heavy Industry (01081) shares briefly rose more than 6%, and as of press time were up 4.35% at HK$24, with turnover of HK$44.5922 million.

On the news front, Dajin Heavy Industry released its 2026 third-quarter report. For the first three quarters, revenue was RMB 4.363 billion, down 5.05% year on year, and net profit attributable to shareholders was RMB 710 million, down 19.97% year on year. In 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 said the decline in results was mainly due 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 about RMB 860 million in 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, proposed a buyback of the company's H shares, with the number of shares repurchased not exceeding 10% of the total issued H shares on the date the H-share buyback mandate is approved.

According to Guojin Securities, since September, the company's Poland BCWind and NSCB projects have gradually started shipping, while its own transport vessels KINGTWO and KINGTHREE have successively been launched and taken on shipping work. The company's revenue and profitability are expected to see a significant recovery in Q4.