Huiyuan Cowins Technology Group Limited (stock code: 1116) published its 2025/2026 interim report. The unaudited figures show revenue of RMB454.03 million for the six months ended 31 December 2025, increasing by 14.9% compared to RMB395.19 million for the same period last year. Gross profit margin decreased slightly from 11.3% to 10.5%. After-tax profit reached RMB1.99 million, turning around from a loss of RMB8.99 million in the previous period. Profit attributable to owners of the company stood at RMB1.34 million, in contrast to a loss of RMB8.65 million a year earlier.

Management attributed the revenue growth largely to rising steel business sales in the domestic market. The company’s major segments include production and sale of steel pipes, steel sheets and other steel products, together with direct drinking water solutions, as well as the development and application of phase-change energy storage (PCM) technologies and facility farming. During the reporting period, the steel-related segment reported a profit of RMB7.55 million, increasing from RMB6.96 million in the prior period.

The report noted that initial revenue remained steady for the direct drinking water solutions, benefiting from policy support and heightened health awareness. Meanwhile, the group continued its efforts in PCM-related energy storage, highlighting collaboration on nano phase-change materials. The board also mentioned ongoing legal proceedings regarding disposals of certain equity investments.

As of 31 December 2025, inventories stood at RMB88.11 million, trade and other receivables at RMB320.81 million, and borrowings at RMB159.58 million. Cash and cash equivalents amounted to RMB49.49 million. No interim dividend was declared.

Looking ahead, the board indicated cautious optimism about further developments in PCM energy storage, stainless steel expansions, and potable water solutions, with the aim of reinforcing the group’s performance and market presence in China.