Suzhou Alton Electrical & Mechanical Industry Co. Ltd.

Ousheng Electric released its 2026 interim report on August 27. During the reporting period, the company achieved operating revenue of 1.355 billion yuan, up 54.28% year on year, but net profit attributable to shareholders was only 29.1093 million yuan, down 74.70% year on year, showing a clear pattern of rising revenue without rising profit. The company's operating cash flow turned from positive to negative, with a net outflow of 161 million yuan, compared with a net inflow of 60.8366 million yuan in the same period last year, mainly due to increases in accounts receivable and inventory. By business segment, vacuum cleaner revenue was 567 million yuan, up 41.80% year on year; air compressor revenue was 428 million yuan, up 40.93% year on year; and industrial fan revenue was 131 million yuan, more than doubling with growth of 104.87%. The main reasons for the performance change include operating costs rising 61.78% year on year, selling expenses and administrative expenses rising 55.91% and 80.42% respectively, and financial expenses swinging from a negative 14.6827 million yuan in the same period last year to an expense of 53.2789 million yuan, affected by higher exchange gains and losses and interest expenses. The company said that deepening cooperation with major customers at its Suzhou base and the release of production capacity at its Malaysia base drove sales expansion, but it needs to guard against exchange rate fluctuations and working capital risks.

Alton Electrical released its 2026 interim report. First-half operating revenue was 1.355 billion yuan, up 54.3% year on year, but net profit attributable to the parent was 29.11 million yuan, down 74.7% year on year. Net profit attributable to the parent after deducting non-recurring items was 24.91 million yuan, down 77.2% year on year, and net operating cash flow was negative 161 million yuan, down 365.2% year on year. In the second quarter, operating revenue was 681 million yuan, up 93.2% year on year, and net profit attributable to the parent was 17.99 million yuan, down 66.4% year on year. As of the end of the second quarter, total assets were 4.237 billion yuan, up 7.03% from the end of the previous year, and net assets attributable to the parent were 1.449 billion yuan, down 3.4% from the end of the previous year. The company mainly produces air-powered equipment and cleaning equipment. Its newly established strategic partnership business group has developed new products including garden tools, outdoor tools, work lights and energy storage power supplies. It has 10 customers at the million-dollar level, and its top 10 customers contribute nearly 80% of sales. Since the Malaysia base began production in July 2025, on-time delivery has improved from 79% to over 99%, and finished product shipment volume has grown more than 90% year on year.