Xiangjiang Electric (02619) is expected to achieve a net loss of about 30 million yuan to 35 million yuan in the medium term, a year-on-year profit and loss

Zhitongcaijing · 2d ago

According to Zhitong Finance App, Xiangjiang Electric (02619) issued an announcement. Based on a preliminary review of the Group's unaudited consolidated management accounts for the six months ended June 30, 2026, the Group expects to achieve a net loss (net loss) of about RMB 30 million to RMB 35 million for the six months ending June 30, 2026, while the Group achieved net profit of about RMB 25.3 million for the six months ended June 30, 2025.

The Group's net loss for the six months ended June 30, 2026 was mainly due to the combined effects of the following factors:

Weak overseas market demand and tariff policy uncertainty: In the first half of 2026, global economic growth slowed and overall demand for small US kitchen appliances weakened; at the same time, tariff adjustments at major export destinations were frequent, and export orders faced downward pressure; raw material costs rose significantly: since 2026, raw material prices rose, leading to rising product costs and falling profit margins; and exchange rate fluctuations led to increased exchange losses: In the first half of 2026, the US dollar continued to depreciate against RMB, and the Group's export business settlement currency was mainly US dollars, and exchange rate fluctuations caused large exchange losses.