Zhejiang Zhongjian Technology Co Ltd

Zhongjian Technology released its 2026 interim report. The company's total operating revenue was 701 million yuan, and net profit attributable to the parent company was a loss of 7.61 million yuan, swinging from profit to loss. This was a decrease of 58.67 million yuan compared with the same period last year, down 114.91 percent year on year. Net cash flow from operating activities was a negative 37.85 million yuan, down 151.39 percent year on year. The company's asset-liability ratio was 52.59 percent, gross margin was 27.91 percent, return on equity was negative 0.87 percent, and diluted earnings per share was negative 0.04 yuan.

Zhejiang Zhongjian Technology Co., Ltd. and three of its then senior executives face a combined proposed fine of 3.9 million yuan because the company made false statements in disclosing a cooperation memorandum with Huawei. The Zhejiang Securities Regulatory Bureau found that Zhongjian Technology attended the signing ceremony for the Huawei Shenzhen Global Embodied Intelligence Industry Innovation Center enterprise cooperation memorandum on November 15, 2024, but as of the annual report disclosure date of April 24, 2025, the company had never affixed its seal to the memorandum, which was titled Cooperation Intent Agreement, and the memorandum had not actually been signed. Yet the company twice claimed it had been signed, in the Investor Relations Activity Record disclosed on the Shenzhen Stock Exchange interactive platform on February 19, 2025, and in the 2024 annual report. The Zhejiang bureau plans to fine the company 1.5 million yuan, then chairman Wu Minggen 1 million yuan, then board secretary Dai Yongbin 800,000 yuan, and then deputy general manager Bao Jialong 600,000 yuan. Topstar Technology and Estun, which attended the same signing event, also disclosed the related cooperation, but Topstar added in an unusual movement announcement that the cooperation was in an initial stage, had not generated actual revenue, and involved uncertainty, while Estun disclosed in its interactive platform record that it attended the ceremony and signed a memorandum with relevant enterprises. Their disclosure methods differed from that of Zhongjian Technology. Zhongjian Technology said the fact that the relevant documents were not sealed did not affect the cooperation matters being carried out and advanced as agreed, had no impact on its financial statements, and that this penalty did not trigger the mandatory delisting circumstances for major violations.

Kangsheng Co. announced that its chairman and general manager Wang Yajun has been subjected to bail pending trial by judicial authorities, but this does not affect his performance of duties. Upon verification, the matter does not involve the company's production and operating activities, nor does it involve the company's business, assets, or major matters that should have been disclosed but were not. As of the disclosure date of the announcement, Wang Yajun is able to perform his duties as chairman and general manager normally, the company's board of directors is operating normally, and all operational and management activities are proceeding in an orderly manner. In addition, Baofeng Energy reported a net profit attributable to the parent company of 9.728 billion yuan in the first half of the year, up 70.14 percent year on year. Quectel reported a net profit attributable to the parent company of 602 million yuan in the first half, up 27.84 percent year on year. Nanqiao Food reported a net profit attributable to the parent company of 2.5939 million yuan in the first half, down 92.79 percent year on year. A major shareholder of Shanshuishan plans to reduce its stake by no more than 4.03 percent. The actual controller of Zhilicube has completed a reduction plan involving a total of 5.0554 million shares. Zhongjian Technology faces a total fine of 3.9 million yuan for illegal information disclosure. A major lawsuit involving Radio and Television Network was settled through mediation, and the company is required to pay 70.1917 million yuan. Huayang New Materials received a notice of response and is being sued for joint payment of 58.389 million yuan in project fees. In the case involving ST Meigu as the appellee in a tort liability dispute, the second-instance court ruled to dismiss part of the lawsuit.

Zhongjian Technology announced it expects a loss of 5.8 million to 11.6 million yuan for the first half of 2026, a decline of 111.36% to 122.72% from a profit of 51.06 million yuan in the same period last year. The company's operating revenue grew sharply year on year, with steady performance in its garden machinery business, but net profit swung to a loss due to the combined impact of R&D spending and foreign exchange gains and losses. During the reporting period, the company expanded its embodied intelligence R&D team and increased investment in basic research and cutting-edge technology exploration for robot components and complete machines, leading to a significant year-on-year rise in R&D expenses. At the same time, it incurred substantial foreign exchange losses from fluctuations in the US dollar and euro against the yuan, pushing up financial costs. In 2025, the company's net profit attributable to shareholders was 173 million yuan, surging 166.85% year on year, but this was mainly driven by a 167 million yuan investment gain from changes in the fair value of its stake in overseas AI robotics company 1X. Excluding non-recurring items, net profit was only 40.64 million yuan, down 22.04% year on year. As of the close on July 14, Zhongjian Technology shares traded at 71.09 yuan, having fallen 37% year to date.

Zhongjian Technology announced on the evening of August 31 that the company and three senior executives were fined a total of 3.9 million yuan by the Zhejiang Securities Regulatory Bureau for illegal information disclosure. The announcement showed that the company disclosed the signing of a cooperation memorandum with a leading company, but as of April 24, 2025, the memorandum had not been completed, constituting a false record. The Zhejiang Securities Regulatory Bureau ordered the company to correct the issue, issued a warning, and fined it 1.5 million yuan, while Wu Minggen, Dai Yongbin, and Bao Jialong were fined 1 million yuan, 800,000 yuan, and 600,000 yuan respectively. On the same day, the Shenzhen Stock Exchange issued a notice of criticism to the company and relevant parties, and recorded it in their integrity files. The company's previously disclosed 2026 semi-annual report showed that first-half operating revenue was 701 million yuan, up 39.50 percent year on year, while net profit was a loss of 7.61 million yuan, turning from profit to loss. As of the close on August 31, the company's stock price was 77.81 yuan per share, with a total market value of 14.4 billion yuan, down more than 41 percent from its high on September 17, 2025.