Hunan Changgao High Voltage Switchgear Group Co Ltd

Nanjing University Environment's controlling shareholder plans to transfer no less than 15% of the company's total share capital through public solicitation of transferees by agreement. The completion of the transfer may lead to a change in the company's controlling shareholder and actual controller. Ben Chuan Intelligent plans for the company and its wholly owned subsidiary Zhuhai Shuohong to invest a total of no more than 3 billion yuan to expand high-end PCB capacity in Nanjing and Zhuhai. The Nanjing project has a planned total investment of about 2 billion yuan to build an industrial project with annual output of 1.5 million square meters of AI computing high-multilayer and high-order HDI circuit boards. The Zhuhai project plans to invest no more than 1 billion yuan to implement the Zhuhai Shuohong Phase II multilayer high-end interconnect products South China intelligent manufacturing base project. In addition, Zhifei Biological's controlling subsidiary Chongqing Chen'an Biopharmaceutical Co., Ltd. has had its application for production registration of semaglutide injection accepted by the National Medical Products Administration. Changgao Electric's four subsidiaries won a total of 299 million yuan in State Grid bidding, accounting for 17.96% of the company's 2025 consolidated operating revenue. Zhou Jinyi, a person acting in concert with the controlling shareholder of Asia-Pacific Technology, plans to increase his shareholding in the company by no less than 50 million yuan and no more than 100 million yuan. Guangyi Investment, a person acting in concert with the actual controller of Hangzhou Kelin, plans to increase its shareholding in the company by no less than 25 million yuan and no more than 50 million yuan. Yuwell Medical plans to repurchase company shares worth no less than 200 million yuan and no more than 400 million yuan.

Changgao Electric Group Co., Ltd. announced that its wholly owned subsidiaries have won State Grid projects totaling approximately 299 million yuan, accounting for 17.96 percent of the company's 2025 revenue. The winning bids involve three product categories: gas-insulated switchgear, disconnectors, and switchgear cabinets, secured jointly by four subsidiaries: Hunan Changgao Electric Co., Ltd., Hunan Changgao High Voltage Switch Co., Ltd., Hunan Changgao Complete Electrical Equipment Co., Ltd., and Hunan Changgao Senyuan Power Equipment Co., Ltd. The projects come from State Grid's fourth public bidding and direct procurement for substation equipment under its 2026 power transmission and transformation program. The company stated that after contract signing, the projects will have a positive impact on performance in 2026 and beyond, and will not affect the company's independence.

Changgao Electric announced that in the first half of 2026 it achieved operating revenue of 762 million yuan, up 4.04% year on year, and net profit attributable to shareholders of the listed company of 582 million yuan, up 451.36% year on year. The profit growth was mainly due to investment income from disposing of part of its equity in Fute Technology during the period and gains from measuring the remaining equity at fair value. The company plans no cash dividend, no bonus shares, and no conversion of capital reserve into share capital. Second-quarter net profit was 525 million yuan, above the upper end of its earlier forecast range of 493 million to 523 million yuan, up 827% quarter on quarter.

Changgao Electric announced that its wholly-owned subsidiaries Hunan Changgao Electric Co., Ltd., Hunan Changgao High-Voltage Switch Co., Ltd., Hunan Changgao Complete Electrical Equipment Co., Ltd., and Hunan Changgao Senyuan Power Equipment Co., Ltd. have won bids in State Grid Corporation of China's 2026 third public bidding for substation equipment for power transmission and transformation projects, third direct procurement for substation equipment for power transmission and transformation projects, and third public bidding for equipment for ultra-high voltage projects. The wins cover three product categories: gas-insulated switchgear, disconnectors, and switchgear cabinets, with a combined bid amount of 416 million yuan, accounting for 25% of the company's 2025 audited consolidated operating revenue. After formal contracts for the relevant projects are signed, it is expected to have a positive impact on the company's operating performance in 2026 and subsequent years, without affecting independence.

Tianfeng Securities expects its first-half net profit attributable to the parent company to grow between 429.03% and 693.55% year-on-year, reaching 164 million to 246 million yuan. BOE Technology Group expects first-half net profit of 5 billion to 5.5 billion yuan, up 54% to 69% year-on-year. Jiangxi Copper expects first-half net profit attributable to the parent of 7.55 billion to 8.5 billion yuan, an increase of 80.86% to 103.61%. Guide Infrared expects first-half net profit of 1.27 billion to 1.45 billion yuan, surging 601.93% to 701.41%. Shengxin Lithium Energy expects first-half net profit of 1 billion to 1.2 billion yuan, turning around from a loss in the same period last year. Changgao Electric Group expects first-half net profit of 550 million to 580 million yuan, up 421.27% to 449.70%. Maxvision Technology expects first-half net profit of 105 million to 135 million yuan, rising 336.02% to 460.59%. SDG Information expects first-half net profit of 55 million to 71 million yuan, jumping 881.42% to 1,166.93%. Jingce Electronic plans to acquire part of the equity in its controlled subsidiary, Shanghai Jingce Semiconductor Technology, which is expected to constitute a major asset restructuring and a related-party transaction. Trading in the company's shares and convertible bonds will be suspended from July 9. Suntak Technology said its current capacity utilization rate is around 90%, and it is promoting the release of high-layer-count PCB capacity at its Zhuhai plants one and two, while planning to build a new HDI factory.

Changgao Electric disclosed its earnings forecast, expecting net profit attributable to the parent for the first half of 2026 to be between 550 million and 580 million yuan, a year-on-year increase of 421.27% to 449.7%. Deducted non-recurring net profit is expected to be between 135 million and 150 million yuan, up 35.43% to 50.48% year-on-year. The profit growth is mainly due to the recovery in the delivery pace of power transmission and transformation equipment, which boosted main business revenue and profitability, as well as non-recurring gains totaling about 420 million yuan from the sale of part of its stake in associate company Fute Technology. The company also cautioned that significant fluctuations in the share price of Fute Technology during the subsequent holding period could increase the risk of future earnings volatility.