Beijing Jingcheng Machinery Electric Company Limited (JINGCHENG MAC) reported a deeper interim loss for the six months ended 30 June 2026, pressured by softer sales and higher costs across its gas-storage and intelligent-manufacturing businesses.
Revenue slipped 4.15% year on year to RMB 652.12 million, weighed down by weaker overseas demand for gas-storage cylinders and project-timing effects in its automation segment. Operating cost, however, rose 5.05% to RMB 576.41 million as fixed-asset depreciation and price competition offset unit-cost reductions.
The company recorded a net loss attributable to shareholders of RMB 62.63 million, compared with a RMB 15.76 million loss in the prior-year period. Total profit swung to a negative RMB 76.64 million from a RMB 4.80 million loss, hit by a 145.37% surge in financial expenses to RMB 12.84 million due mainly to foreign-exchange losses, and a near-RMB 18.40 million asset-impairment charge.
Research and development spending grew 8.96% to RMB 45.99 million as JINGCHENG MAC pushed ahead with hydrogen-storage cylinders, cryogenic systems and intelligent-manufacturing upgrades. The company said it achieved “multiple breakthroughs” in technology commercialisation and maintained a “high level” of R&D investment at its Qingdao BYTQ automation subsidiary.
Cash flow from operations remained negative at RMB 88.64 million, though marginally better than the year-earlier deficit of RMB 89.95 million. Net cash used in financing reached RMB 134.86 million after the group pared back short-term borrowings by two-thirds to RMB 60.00 million and repaid long-term debt.
Total assets declined 5.85% from year-end to RMB 2.95 billion, while shareholders’ equity fell 7.41% to RMB 793.88 million. The debt-to-asset ratio edged up to 57.12%. The board proposed no interim dividend.
State-owned Beijing Jingcheng Machinery Electric Holding remains the largest shareholder with a 44.88% stake. JINGCHENG MAC said it will focus in the second half on expanding domestic and overseas markets for gas-storage equipment, accelerating digital transformation, and tightening cost and risk controls amid “intensifying” industry competition and volatile global trade conditions.