BEIJING, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Julong Holding Limited ("Julong" or the "Company") (Nasdaq: JLHL), a growth-oriented provider of intelligent integrated solutions, today announced its unaudited financial results for the six months ended March 31, 2026.
First Half of Fiscal Year 2026 Financial Highlights
-- Revenues increased by 21.6% to RMB124,293 thousand (US$18,019 thousand)
for the six months ended March 31, 2026, from RMB102,175 thousand in the
same period of fiscal year 2025.
-- Gross profit increased by 16.4% to RMB19,453 thousand (US$2,820 thousand)
for the six months ended March 31, 2026, from RMB16,719 thousand in the
same period of fiscal year 2025.
-- Gross margin was 15.7% for the six months ended March 31, 2026, compared
with 16.4% in the same period of fiscal year 2025.
-- Net income increased by 0.8% to RMB11,659 thousand (US$1,690 thousand) in
the six months ended March 31, 2026, from RMB11,567 thousand in the same
period of fiscal year 2025.
Mr. Jiaqi Hu, the founder, Chairman of the Board of Directors, and Chief Executive Officer of Julong, commented, "We are pleased to report solid results for the first half of fiscal year 2026, despite a challenging external environment. Total revenue increased by 21.6% year over year, reflecting the continued strength of our core engineering solutions business. This growth was primarily driven by an increase in the number of intelligent projects we served, with contracts under execution for our engineering solutions business rising to 322 from 226 in the same period last year. Additionally, we saw encouraging early-stage momentum in our sale of equipment and materials for intelligent systems, which complements our core business. With a rising number of contracts under execution in our domestic engineering solutions business and our continuous efforts to expand our international footprint, we are confident that we will sustain this momentum and capture new opportunities across our markets."
Ms. Airu Chen, the Chief Financial Officer of Julong, said, "We delivered a year-over-year revenue increase of 21.6%, reaching RMB124 million in the first half of fiscal year 2026, with revenue from our core engineering solutions for intelligent projects business rising 22.9% year over year. Notably, revenue from the sale of equipment and materials for intelligent systems grew substantially, climbing to RMB346 thousand from RMB10 thousand in the same period last year. Gross profit increased 16.4% year-over-year to RMB19.5 million and we remained profitable with net income of RMB11.7 million. As we continue to support the execution of our project pipeline, we remain focused on improving operational efficiency and creating sustainable, long-term value for our business partners and shareholders."
Unaudited Financial Results for the First Half of Fiscal Year 2026
Revenues increased by 21.6% to RMB124,293 thousand (US$18,019 thousand) in the six months ended March 31, 2026, from RMB102,175 thousand in the same period of fiscal year 2025, primarily attributable to an increase in the number of intelligent projects where we provided engineering solutions.
Revenues from engineering solutions for intelligent projects increased by 22.9% to RMB120,265 thousand (US$17,435 thousand) in the six months ended March 31, 2026, from RMB97,861 thousand in the same period of fiscal year 2025.
Revenues from intelligent project operation and maintenance were RMB3,682 thousand (US$534 thousand) in the six months ended March 31, 2026, compared with RMB4,304 thousand in the same period of fiscal year 2025.
Revenues from sales of equipment and materials of intelligent systems increased to RMB346 thousand (US$50 thousand) in the six months ended March 31, 2026, from RMB10 thousand in the same period of fiscal year 2025.
Cost of revenues increased by 22.7% to RMB104,839 thousand (US$15,199 thousand) in the six months ended March 31, 2026, from RMB85,457 thousand in the same period of fiscal year 2025.
Gross profit increased by 16.4% to RMB19,453 thousand (US$2,820 thousand) in the six months ended March 31, 2026, from RMB16,719 thousand in the same period of fiscal year 2025.
Gross margin was 15.7% for the six months ended March 31, 2026, compared with 16.4% in the same period of fiscal year 2025, primarily due to change in revenue mix.
Operating expenses increased by 91.9% to RMB5,960 thousand (US$864 thousand) in the six months ended March 31, 2026, from RMB3,106 thousand in the same period of fiscal year 2025, primarily due to an increase in service fee for RMB2,061 thousand (US$299 thousand).
Operating income was RMB13,494 thousand (US$1,956 thousand) in the six months ended March 31, 2026, compared with RMB13,613 thousand in the same period of fiscal year 2025.
Net income increased by 0.8% to RMB11,659 thousand (US$1,690 thousand) in the six months ended March 31, 2026, from RMB11,567 thousand in the same period of fiscal year 2025.
Basic and diluted net income per share was RMB0.54 (US$0.08) in the six months ended March 31, 2026, compared with RMB0.58 per share in the same period of fiscal year 2025.
Balance Sheets
As of March 31, 2026, the Company had cash and cash equivalents and restricted cash of RMB43,217 thousand (US$6,265 thousand), compared with RMB62,248 thousand as of September 30, 2025.
About Julong Holding Limited
Founded in 1997, Julong is a growth-oriented professional provider of intelligent integrated solutions to public utilities, commercial properties, and multifamily residential properties operating at scale in China. The Company's comprehensive suite of intelligent integrated solutions includes systems for intelligent security, fire protection, parking, toll collection, broadcasting, identification, data room, emergency command, and city management. Since its inception, Julong has focused on the successful and on-time execution of complex projects, through its "deliveries before deadline" and "customers first" initiatives. As Julong continues to cross-sell its service and solution offerings and advance its purpose-built technologies, the Company is well-positioned to achieve economies of scale and capture future opportunities.
For more information, please visit: ir.julongzx.com.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Forward-Looking Statements
This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements relating to the Company's future operating and financial performance, business strategies, and growth plans. These forward-looking statements can be identified by terminology such as "will," "would," "may," "expects," "anticipates," "aims," "future," "continues," "could," "should," "target," "intends," "plans," "believes, " "estimates," "likely to," and similar expressions. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions, competition, and other factors discussed in the "Risk Factors" section of the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Investor Relations:
Email: ir@julongzx.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: julong@thepiacentegroup.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: julong@thepiacentegroup.com
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
As of As of
September As of March March 31,
30, 2025 31, 2026 2026
------------ ----------- ----------
RMB RMB US$
ASSETS
Current assets
Cash and cash
equivalents 62,247,145 43,216,643 6,265,098
Restricted cash 600 600 87
Accounts receivable
(net of allowance
of RMB91,886 and
RMB56,070 as of
September 30,2025
and March 31, 2026,
respectively) 14,723,857 8,130,297 1,178,646
Unbilled receivables
(net of allowance
of RMB4,267,547 and
RMB5,457,002 as of
September 30,2025
and March 31, 2026,
respectively) 242,066,085 303,893,778 44,055,346
Contract assets-
current (net of
allowance of nil
and nil as of
September 30, 2025
and March 31, 2026,
respectively) 2,466,827 1,498,137 217,184
Other receivable
(net of allowance
of RMB64,103 and
RMB164,106 as of
September 30, 2025
and March 31, 2026,
respectively) 801,734 24,234,001 3,513,192
Amounts due from
related parties 3,486,135 1,105,933 160,327
Prepaid expenses and
other current
assets 1,966,812 4,212,170 610,635
----------- ----------- ----------
Total current assets 327,759,195 386,291,559 56,000,515
Non-current assets
Property, plant and
equipment, net 83,125 161,404 23,399
Deferred tax assets 1,044,349 1,240,584 179,847
Operating lease
right-of-use
assets 280,398 229,471 33,266
Contract assets-
non-current, net 10,955,098 10,995,921 1,594,074
----------- ----------- ----------
Total non-current
assets 12,362,970 12,627,380 1,830,586
----------- ----------- ----------
TOTAL ASSETS 340,122,165 398,918,939 57,831,101
=========== =========== ==========
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
As of
September As of March As of March
30, 2025 31, 2026 31, 2026
------------ ----------- ------------
RMB RMB US$
LIABILITIES
Current
liabilities
Short-term
borrowing 10,000,000 10,000,000 1,449,696
Accounts payable 21,797,667 15,767,146 2,285,756
Contract
liabilities 844,757 1,691,990 245,287
Accrued expenses
and other
current
liabilities 221,848,274 275,039,372 39,872,336
Amounts due to
related parties 5,244,067 3,443,940 499,266
Income tax
payable 10,312,947 12,398,896 1,797,462
Operating lease
liabilities,
current portion 99,065 100,540 14,575
----------- ----------- ------------
Total current
liabilities 270,146,777 318,441,884 46,164,378
Non-current
liabilities:
Operating lease
liabilities,
non-current 164,896 114,254 16,563
Total non-current
liabilities 164,896 114,254 16,563
----------- ----------- ------------
TOTAL LIABILITIES 270,311,673 318,556,138 46,180,941
=========== =========== ============
SHAREHOLDERS'
EQUITY
Stock
Subscription
Receivable (14,246) (14,246) (2,065)
Ordinary shares
subscribed
(US$0.0001 par
value,
500,000,000
shares
authorized as of
September 30,
2025 and March
31, 2026;
21,448,632
shares issued
and outstanding
as of September
30, 2025 and
March 31, 2026)
(1) 15,269 15,269 2,214
Additional paid
in capital 26,281,420 26,281,420 3,810,006
Statutory reserve 5,883,035 7,048,957 1,021,884
Retained earnings 37,645,105 48,138,412 6,978,604
Accumulated other
comprehensive
loss (91) (1,107,011) (160,483)
----------- ----------- ------------
TOTAL SHAREHOLDERS'
EQUITY 69,810,492 80,362,801 11,650,160
----------- ----------- ------------
TOTAL LIABILITIES
AND SHAREHOLDERS'
EQUITY 340,122,165 398,918,939 57,831,101
=========== =========== ============
(1) Giving retroactive effect to Reorganization transactions.
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE
INCOME
Six Months Ended March 31,
---------------------------------------
2025 2026 2026
------------ ----------- ----------
RMB RMB US$
Revenues (including
revenues from related
parties of
RMB42,257,767 and
RMB63,792,598 for the
six months ended
March 31, 2025 and
2026, respectively) 102,175,246 124,292,811 18,018,674
Cost of revenues 85,456,746 104,839,391 15,198,520
----------- ----------- ----------
Gross profit 16,718,500 19,453,420 2,820,154
----------- ----------- ----------
Operating expenses:
Selling, general and
administrative
expenses 3,105,980 5,959,721 863,978
----------- ----------- ----------
Total operating
expenses 3,105,980 5,959,721 863,978
----------- ----------- ----------
Operating income 13,612,520 13,493,699 1,956,176
Interest expenses (936) (148,839) (21,577)
Other income, net 263 324,664 47,066
----------- ----------- ----------
Income before income
taxes 13,611,847 13,669,524 1,981,665
----------- ----------- ----------
Income tax expenses 2,045,183 2,010,295 291,432
----------- ----------- ----------
Net income 11,566,664 11,659,229 1,690,233
Other comprehensive
loss, net of tax of
nil: - (1,107,011) (160,483)
----------- ----------- ----------
Comprehensive income 11,566,664 10,552,218 1,529,750
=========== =========== ==========
Net income per
share-basic and
diluted
Weighted average
number of ordinary
shares
outstanding-basic and
diluted 20,011,132 21,448,632 21,448,632
Basic and diluted net
income per share 0.58 0.54 0.08
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES
IN SHAREHOLDERS' EQUITY
Total Julong
Accumulated Holding
Stock Additional other (Accumulated Limited Non-
Subscription paid-in Statutory comprehensive deficit)/Retained shareholders' controlling Total
Ordinary shares Receivable capital reserve income earnings equity interest equity
------------------- ------------ ---------- --------- ------------- ----------------- ------------- ----------- ----------
Number RMB RMB RMB RMB RMB RMB RMB RMB RMB
----------- ------ ------------ ---------- --------- ------------- ----------------- ------------- ----------- ----------
Balance as of
September 30,
2024 20,011,132 14,043 (14,043) - 3,267,815 - 14,108,126 17,375,941 - 17,375,941
Net income for
the year - - - - - - 11,566,664 11,566,664 - 11,566,664
Provision of
statutory
reserve - - - - 1,156,666 - (1,156,666) - - -
Foreign
currency
translation
adjustment - 478 (478) - - - - - - -
Balance as of
March 31,
2025 20,011,132 14,521 (14,521) - 4,424,481 - 24,518,124 28,942,605 - 28,942,605
========== ====== ============ ========== ========= ============= ================= ============= =========== ==========
Balance as of
September 30,
2025 21,448,632 15,269 (14,246) 26,281,420 5,883,035 (91) 37,645,105 69,810,492 - 69,810,492
Net income for
the year - - - - - - 11,659,229 11,659,229 - 11,659,229
Provision of
statutory
reserve - - - - 1,165,922 - (1,165,922) - - -
Foreign
currency
translation
adjustment - - - - - (1,106,920) - (1,106,920) - (1,106,920)
Balance as of
March 31,
2026 21,448,632 15,269 (14,246) 26,281,420 7,048,957 (1,107,011) 48,138,412 80,362,801 - 80,362,801
========== ====== ============ ========== ========= ============= ================= ============= =========== ==========
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS
Six Months Ended March 31,
---------------------------------------
2025 2026 2026
------------ ----------- ----------
RMB RMB US$
------------ ----------- ----------
CASH FLOWS FROM
OPERATING
ACTIVITIES
Net income 11,566,664 11,659,229 1,690,233
Adjustments to
reconcile net
income to net
cash provided by
(used in)
operating
activities:
Depreciation of
property, plant
and equipment 7,117 10,830 1,570
Amortization of the
right-of-use
assets 95,003 50,928 7,383
Provision of
allowance for
doubtful accounts 94,292 6,420,154 930,727
Provision of
allowance for
unbilled
receivables 311,983 1,189,455 172,435
Changes in
operating assets
and liabilities
Accounts receivable (4,473,997) 3,451,393 500,347
Unbilled
receivables (18,755,216) (63,017,148) (9,135,568)
Contract assets (2,110,855) 968,690 140,431
Other receivable (80,510) (23,532,270) (3,411,463)
Prepaid expenses
and other current
assets (759,161) (2,245,360) (325,509)
Amount due from
related parties 699,026 2,380,202 345,057
Deferred tax assets (62,182) (196,235) (28,448)
Non-current assets 476,681 (40,823) (5,918)
Accounts payable (4,720,741) (7,985,422) (1,157,643)
Accrued expenses
and other current
liabilities 16,811,087 46,683,831 6,767,734
Income tax payable 1,875,544 2,085,949 302,399
Contract
liabilities 2,081,323 847,233 122,823
Amount due to
related parties (13,836,127) (1,800,127) (260,964)
Lease liabilities (95,003) (49,166) (7,128)
Other Current
liabilities 2,638,092 5,284,184 766,047
----------- ----------- ----------
Net cash used in
operating
activities (8,236,979) (17,834,473) (2,585,455)
CASH FLOWS FROM
INVESTING
ACTIVITIES
Purchase of
property, plant
and equipment - (89,109) (12,918)
----------- ----------- ----------
Net cash used in
investing
activities - (89,109) (12,918)
CASH FLOWS FROM
FINANCING
ACTIVITIES
Proceed from
short-term
borrowing 10,000,000 1,449,696
Proceed from
(repayment of)
short-term
borrowing 10,000,000 (10,000,000) (1,449,696)
Payment of deferred
offering costs (1,169,139) - -
----------- ----------- ----------
Net cash provided
by financing
activities 8,830,861 - -
----------- ----------- ----------
Exchange rate
effect on cash
and cash
equivalents - (1,106,920) (160,470)
Net increase
(decrease) in
cash, cash
equivalents and
restricted cash 593,882 (19,030,502) (2,758,843)
Cash, cash
equivalents and
restricted cash at
beginning of the
period 20,772,130 62,247,745 9,024,028
----------- ----------- ----------
Cash, cash
equivalents and
restricted cash at
end of the period 21,366,012 43,217,243 6,265,185
=========== =========== ==========