Suzhou Hengmingda Electronic Technology Co Ltd

The consumer electronics sector moved sharply higher in intraday trading on August 25, led by the foldable phone theme. Jierong Technology hit its daily limit up in a straight line, Hengmingda sealed limit up, and Xingxing Technology and Lvliang Technology rose more than 10%. On the news front, Apple is expected to hold a special autumn event on September 9, launching only three high-end models: the iPhone 18 Pro, iPhone 18 Pro Max, and its first foldable iPhone, while the standard iPhone 18 will be delayed until spring 2027. Analysts at Rothschild & Co. expect Apple's push into the ultra-high-end foldable phone segment could lift the iPhone average selling price by 11% before June 2027, with iPhone Ultra foldable phone sales reaching 14 million units in fiscal 2027. National Bureau of Statistics data show that from January to July 2026, retail sales of wearable smart devices by enterprises above designated size more than doubled year on year, while retail sales of communication equipment rose 15.1%. Furi Electronics' 2026 interim report shows first-half revenue of 7.923 billion yuan, up 48.57% year on year, with net profit attributable to the parent of 83.3497 million yuan, up 277.41% year on year. A research note from CITIC Securities points out that in the third quarter of 2026, the quarter-on-quarter increase in consumer-grade storage contract prices will narrow significantly, and shipments of traditional hardware such as phones and PCs are expected to bottom out and recover in the second half of 2026, making targets with high exposure to the Apple supply chain and premium Android business worth close attention.

Hengmingda released its 2026 interim report, with net profit attributable to the parent company of 254 million yuan. The company's total operating revenue was 1.377 billion yuan, and net cash inflow from operating activities was 475 million yuan, down 17.27% from the same period last year. The latest asset-liability ratio was 25.51%, gross margin was 35.19%, ROE was 7.82%, and diluted earnings per share was 0.99 yuan.

Hengmingda released its semi-annual report for 2026, achieving operating revenue of 1.377 billion yuan, up 10.62% year on year; net profit attributable to shareholders of the listed company was 254 million yuan, up 8.21% year on year. The company plans not to distribute cash dividends, not to issue bonus shares, and not to convert capital reserve into share capital. Net profit in the second quarter was 102 million yuan, down 32% quarter on quarter from 151 million yuan in the first quarter.

Hengmingda announced that as of July 31, 2026, the company had repurchased 6.27 million shares, accounting for 2.45% of total share capital, with a total repurchase amount of 300 million yuan. The highest transaction price was 53.5 yuan per share, and the lowest was 42.22 yuan per share. In the first quarter of 2026, the company achieved revenue of 714 million yuan and net profit attributable to the parent of 151 million yuan.