Lanzhou Greatwall Electrical Co Ltd

Great Wall Electric disclosed its 2026 semi-annual report on August 29. In the first half, it achieved total operating revenue of 654 million yuan, down 5.72 percent year on year. Net loss attributable to the parent company was 136 million yuan, compared with a loss of 112 million yuan in the same period last year. Net loss after deducting non-recurring items was 139 million yuan, compared with a loss of 125 million yuan a year earlier. Net cash flow from operating activities was negative 134 million yuan, versus negative 85.8759 million yuan in the prior-year period. Basic loss per share was 0.3081 yuan, and the weighted average return on net assets was negative 18.21 percent. The company is mainly engaged in the research, development, manufacturing, sales and service of electrical and electronic products such as high, medium and low voltage switchgear assemblies, electrical components and key parts.

The central government has explicitly designated the new-type power grid as a key investment direction under the 15th Five-Year Plan, with planned investment exceeding 5 trillion yuan. Of this, State Grid is expected to invest 4 trillion yuan, an increase of about 40 percent compared with the 14th Five-Year Plan period. Catalysed by the policy, A-share grid-related sectors surged across the board on 3 August, with the grid equipment index showing active performance. Jiuxing Electric led the gains with a 20 percent rise, while Baili Electric, Great Wall Electric, and Huijintong were among multiple stocks that hit their daily limit up. Grid equipment companies that have already disclosed interim earnings forecasts showed clear divergence. Dalian Insulator, Fanfan Steel Structure, and Baobian Electric benefited from full order books for ultra-high-voltage projects and achieved high growth, whereas Sanxing Electric and Great Wall Electric were dragged down by factors such as high raw material prices, declining bidding prices, and exchange losses, resulting in profit declines or even losses. Institutions’ analysis points out that there is typically a six- to nine-month time lag from grid investment tenders to revenue recognition. Ultra-high-voltage, distribution equipment, new-type energy storage, as well as digital and intelligent infrastructure such as smart grids and computing-power coordination, are expected to benefit from this round of policy dividends.