Ningbo Construction Co Ltd

Ningbo Construction completed the issuance of its third tranche of ultra-short-term financing notes for 2026 on September 2, 2026. The actual total issuance amount was 400 million yuan, with a term of 270 days. The interest accrual date was September 2, 2026, and the payment date is May 30, 2027. The issuance rate was 1.60 percent. The company had previously received a registration notice from the National Association of Financial Market Institutional Investors, with a registered amount of 2 billion yuan and a validity period of two years. In 2026, Ningbo Construction has successively completed the first, second, and current tranches of 400 million yuan each. The three tranches total 1.2 billion yuan, accounting for 60 percent of the total registered amount.

Ningbo Construction has released its 2026 interim report, with net profit attributable to the parent company at 251 million yuan, up 16.98% from the same period last year, marking a second consecutive year of growth. Total operating revenue was 9.697 billion yuan, while net cash outflow from operating activities was 2.205 billion yuan. The latest gross margin was 8.65%, up 1.54 percentage points from the previous quarter. Return on equity was 4.00%, up 1.40 percentage points from the same period last year. Diluted earnings per share were 0.16 yuan, up 22.02% year on year. The company's asset-liability ratio was 82.81%, total asset turnover was 0.23 times, and inventory turnover was 13.81 times, up 31.91% year on year.

Ningbo Construction announced that a consortium formed by its controlling subsidiary Municipal Group and Sichuan Heyixin Engineering Survey and Design Co., Ltd. has won the bid for the design and construction general contracting project of the Tashan area water resources enhancement project in Santai County. The winning bid amount is approximately 465 million yuan, with a construction period of 720 calendar days. Municipal Group, as the lead of the consortium, is responsible for the construction general contracting, while Sichuan Heyixin is responsible for the design.

The A-share computing power leasing concept rallied in the afternoon, with Yakang Shares hitting the 20% daily limit up. Ningbo Construction Engineering and Fuan Shares also hit their daily limit up, while Jingyuan Environmental Protection, Maixinlin, IAT Automobile Technology, Sitech, and Xingyun Technology were among the top gainers. Data from the Ministry of Industry and Information Technology shows that as of the end of June this year, China's intelligent computing power scale reached 2,185 EFLOPS in FP16, a year-on-year increase of 177%. Yakang Shares is a core stock in the Kimi industry chain, directly supplying AI servers to Moonshot AI and responsible for GPU computing cluster deployment and operation and maintenance. Growth in Kimi's traffic directly drives service fees and hardware orders. The company's total operating revenue in 2025 was 1.342 billion yuan, down 2.68% year-on-year, with a net loss attributable to the parent company of 142 million yuan. In the first quarter of this year, total operating revenue was 360 million yuan, up 26.87% year-on-year, and net profit attributable to the parent company was 23.7265 million yuan, up 38.61% year-on-year.