Buyang International Holding Inc. (Buyang International) released its unaudited 2026 interim results for the six months ended 30 June 2026.

Revenue and Profitability • Revenue advanced 14.1% year on year to RMB197.10 million, driven largely by stronger North American demand. • Gross profit fell 16.1% to RMB17.80 million as gross margin narrowed to 9.0% from 12.29%, reflecting higher raw-material costs. • The company recorded a loss before tax of RMB2.88 million versus a RMB6.70 million profit a year earlier; net result swung to a RMB0.97 million loss (2025: RMB5.95 million profit). • Basic loss per share amounted to RMB0.001, compared with earnings of RMB0.006 in the prior-year period.

Revenue Mix • Aluminium alloy wheels contributed 95.85% of total revenue, rising 12.9% to RMB188.92 million. • By size, medium wheels (17–20 inches) accounted for 68.80% of product sales, small wheels 20.88%, and large wheels 10.32%. • Geographic split: overseas markets delivered 67.34% of total revenue. Sales to America surged 72.4% to RMB75.34 million, offsetting declines in Asia (-4.4%), Europe (-5.7%), Africa (-26.0%) and Oceania (-4.7%).

Cost Structure and Expenses • Cost of sales increased 18.3% to RMB179.30 million, outpacing revenue growth. • R&D spending rose 31.3% to RMB8.99 million, supporting the development of 166 new wheel products. • Selling and distribution as well as administrative expenses remained broadly stable at RMB4.66 million and RMB5.66 million, respectively. • Net foreign-exchange loss was RMB3.09 million versus a RMB0.24 million gain a year ago.

Balance Sheet and Liquidity • Total assets edged up 0.5% to RMB509.23 million; total equity stood at RMB409.54 million. • Cash and cash equivalents amounted to RMB89.30 million, down 15.8% from year-end 2025 due to increased raw-material purchases. • The company held RMB50.12 million in time deposits and RMB24.85 million in pledged deposits. • Financial assets measured at FVOCI, mainly negotiable certificates of deposit, totalled RMB60.22 million, representing 11.8% of total assets. • The gearing ratio (total debt including lease liabilities to total equity) declined to 1.3% from 1.5% at year-end 2025; no bank borrowings were outstanding.

Operational Metrics • Sales volume reached approximately 504,300 wheels, with 330,900 units exported. • Inventory rose 17.5% to RMB110.51 million, reflecting preparation for secured sales orders. • Trade receivables increased to RMB90.33 million from RMB72.01 million, consistent with higher revenue.

Capital Expenditure and Commitments • Capex for the period was RMB9.87 million, primarily for plant and equipment; outstanding capital commitments totalled RMB4.51 million. • Unutilised IPO proceeds of HKD9.90 million (approximately RMB1.20 million) remain earmarked mainly for production-capacity expansion and R&D, with completion targeted by September 2026.

Dividends • No interim dividend was declared.

Outlook (per company statement) Management plans to continue market expansion and new-customer acquisition while sustaining product development to support long-term growth.