Guangzhou Jointas Chemical Joint Stock Co Ltd

Jitai Shares opened sharply lower today and hit limit down, after the stock had just posted two consecutive limit-up sessions. Yesterday the company again clarified its liquid-cooled silicone oil business, saying that sales of liquid-cooled silicone oil were zero in the first half of 2026, and that the product is currently in the internal application verification stage and still needs to undergo customer verification. There is uncertainty over the progress and results of verification for related products, the pace of small-batch production, customer onboarding, subsequent order acquisition, and large-scale sales. The company also disclosed that overall sales revenue from the new energy sector in the first half of the year was 28.4545 million yuan, accounting for 5.88 percent of the company's operating revenue, a relatively low share. Wind data shows that since September this year, Jitai Shares has accumulated seven limit-up sessions, with the market paying close attention to its liquid-cooled silicone oil business amid the share-price swings. In the first half of this year, Jitai Shares reported operating revenue of 484 million yuan, down 9.13 percent year on year, while net profit attributable to the parent company was negative 14 million yuan, with losses widening from a year earlier.

Jitai Co., Ltd. released its 2026 interim report. Total operating revenue was 484 million yuan, down 9.13% year-on-year. Net profit attributable to the parent company was a loss of 13.667 million yuan, with the loss widening by 5.3654 million yuan compared with the same period last year. Net cash flow from operating activities was a negative 58.8451 million yuan, a year-on-year decrease of 29.8135 million yuan. The asset-liability ratio rose to 63.83%, gross margin fell to 21.80%, return on equity was negative 1.60%, and diluted earnings per share was negative 0.04 yuan. The company had 22,700 shareholders, and the top ten shareholders held 44.45% of total share capital.

Jointas Chemical disclosed its earnings forecast, projecting a net loss attributable to shareholders of 11 million to 16 million yuan for the first half of 2026, compared with a loss of 8.3016 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 14 million to 20 million yuan, versus a loss of 10.1285 million yuan a year earlier. The company said the decline was mainly due to weak sentiment in the construction engineering market and a drop in downstream project starts, which put pressure on revenue from construction-related products, while higher year-on-year purchase prices for some chemical raw materials pushed up operating costs. Although the industrial adhesives business for new energy vehicles, electronics and electrical, energy storage, and the container segment continued to expand and contributed to optimizing the revenue mix, it has not yet fully offset the decline in traditional operations in the short term. In the second half of the year, the company will promote technology upgrades, optimize production capacity layout, and strengthen cost control to improve profitability.