Finance · SaaS
HONG KONG, Sep 1, 2026 - (ACN Newswire) - China Risun Group Limited ("China Risun" or the "Company", together with its subsidiaries, the "Group"; Stock Code: 1907.HK), a leading global integrated producer and supplier of coke, coking chemicals, refined chemicals and new energy (including hydrogen energy) products, as well as a relevant operation management services provider, recently announced its unaudited interim results for the six months ended June 30, 2026. During the reporting period, the Group recorded revenue of approximately RMB21,856 million, representing a year-on-year increase of 5.2%; profit for the period reached RMB244.4 million, a substantial surge of 376.0% year-on-year; basic earnings per share was RMB4.77 cents, a sharp increase of 736.8% year-on-year. The board of directors declared an interim dividend of RMB1.44 cents per share, a significant increase of 620% compared to RMB0.20 cents per share in the same period last year, with a dividend payout ratio of not less than 30% of the profit attributable to owners of the Company for the period.
Financial Performance: Overall Improvement in Profit Quality, with Gross Margin and Cash Flow Both Enhanced
In terms of profit quality, the Group's gross profit margin increased from 8.1% in the same period last year to 10.6%, with gross profit reaching RMB2,311 million, up 37.7% year-on-year. Profit from operations was RMB1,057 million, representing a year-on-year increase of 34.0%. Net cash generated from operating activities amounted to RMB2,527 million, up 35.8% year-on-year, indicating continuous improvement in cash flow. EBITDA margin increased from 8.9% to 9.8%, and return on equity surged from 0.4% to 3.4%. All core financial indicators improved across the board, reflecting the Group's significant enhancement in operational resilience and profit recovery capability amid industry cyclical fluctuations. In terms of cost control, the Group's selling and distribution expenses as a percentage of revenue remained stable at around 3.5%, while administrative expenses decreased by 8.9% year-on-year to RMB511 million, demonstrating the effectiveness of the Group's continuous efforts in cost reduction and efficiency enhancement.
All Business Segments Jointly Driven, Coke Overseas Dual Engines, Refined Chemicals Blossoming in Multiple Areas
Revenue from the coke and coking chemicals production business increased by 9.6% year-on-year to RMB6,966 million, mainly benefiting from the average selling price of coke rising by 11.3% year-on-year to RMB1,515 per ton. Leveraging its 31 years of accumulated coal blending technology advantages, the Group effectively maintained the coal-coke price spread at above RMB300 per ton, driving the segment's gross profit margin to a healthy level of 13.7%. During the period, coking coal prices rose in nine rounds and fell in two rounds, with a cumulative increase of RMB385/ton. Relying on its core competitive advantages in "sales-transportation-production-supply-R&D" accumulated over 31 years, the coking coal segment's operating revenue increased by 9.6% year-on-year, and gross profit increased by 10.5% year-on-year. Overseas business became an important growth engine. Risun Wei Shan (Indonesia) Limited recorded year-on-year increases in revenue, net profit attributable to the parent company owners, and sales volume of 976%, 1,854%, and 61%, respectively, benefiting from favorable factors such as global capacity growth from newly added and restarted blast furnaces, as well as India's cancellation of quota policies. With both sales volume and price rising, profitability significantly improved.
Revenue from the refined chemicals production business increased by 4.2% year-on-year to RMB9,475 million, gross profit increased by 41.4% year-on-year to RMB926 million, and gross profit margin rose from 7.2% to 9.8%. The average selling price of caprolactam increased by 13.3% year-on-year to RMB9,701 per ton. The industry's self-discipline in reducing production to maintain prices led to a recovery in both prices and profitability. The feedstock for methanol is coke oven gas, and its annual production capacity of 600,000 tons ranks first in the country. During the period, driven by reduced supply and increased demand, methanol prices rose, and the methanol-ammonia production line generated considerable profits. It is worth noting that the Group's self-developed innovative process route for 50,000 tons/year of hexamethylenediamine officially commenced production during the period and achieved full production and sales, with its quality widely recognized by downstream customers. The amino alcohol new material not only achieved year-on-year growth in sales volume and customer numbers, but also expanded its export markets to South America and Southeast Asia, further broadening its downstream application markets. It now supplies to the battery, carbon capture, electronic cleaning, high-end pharmaceutical, and cosmetics fields, continuously expanding its industry influence.
Revenue from the operation management services business increased by 46.2% year-on-year to RMB1,863 million, mainly due to the addition of the Wulong Magnesium Industry management and operation project during the period. As of the end of the reporting period, the Group provided operation management services to three coke producers and four refined chemicals producers, continuously consolidating its industry influence. The gross profit margin of the operation management business increased from 4.8% in the same period last year to 8.1%, mainly benefiting from the widened price spread of the Kangnaier aniline production line. Revenue from the trading business decreased by 20.2% year-on-year to RMB2,977 million, but gross profit increased by 116.8% year-on-year to RMB193 million, and gross profit margin rose from 2.4% to 6.5%, reflecting the remarkable results of the Group's strategy of proactively optimizing the trading business structure and reducing low-margin items, achieving the business goal of "reducing volume while increasing profit".
Energy New Business via Binhai Energy Acquisition,Anode Materials Grow 63.9%, Becoming the Biggest Highlight
During the period, the Group completed the acquisition of a 14.5% equity interest in Tianjin Binhai Energy & Development Co., Ltd. ("Binhai Energy"), strategically entering the new energy battery materials industry. Through an acting-in-concert arrangement, China Risun in aggregate controls approximately 23.82% of the voting rights of Binhai Energy, and consolidates its financial statements. Binhai Energy added production lines for green electricity, artificial graphite anodes, and anode materials, expanding the product value chain to six major categories and 63 products, including 58 chemical production lines, 14 coking production lines, 6 graphitization production lines, and 5 high-purity hydrogen production lines. The first phase of the nation's only 580MW power generation, grid, load, and storage project, with a capacity of 150MW, officially commenced grid-connection trial operation, further reducing costs and increasing efficiency, and enhancing the profitability of the new energy business segment.Relying on its Ulanqab industrial base, Binhai Energy has now built an artificial graphite anode production capacity exceeding 100,000 tons. The performance of the new energy products production business became the biggest highlight of the first half of 2026. Revenue from this segment increased by 122.9% year-on-year to RMB523million, and achieved a significant turnaround from a loss of RMB12.95 million in the same period last year to a profit of RMB58.26 million, with the gross profit margin turning from negative to positive at 11.1%. The production/processing volume of lithium battery anode materials was 42,000 tons, a year-on-year increase of 63.9%. Graphitization and anode material products not only achieved year-on-year growth in production capacity and sales volume, but revenue also increased by 78% year-on-year.
Meanwhile, the 200,000-tonne integrated project is expected to be fully completed and operational by the end of 2026, with full-year shipments projected to reach 130,000 tonnes. Concurrently, the supporting 580,000 kW (580 MW) "source-grid-load-storage" green power project is set to commence operation in phases within the year. With green power coverage exceeding 50%, this rare industry model not only significantly reduces production costs but also meets the carbon accounting requirements for exports. Additionally, the company is expanding into new anode materials, such as silicon-carbon and porous carbon, to perfect its full-category lithium battery materials portfolio.
Active Capital Operations, Ample Liquidity, Significant Increase in Shareholder Returns
In terms of capital operations, the Group completed the acquisition of Binhai Energy in April 2026, with a total consideration of RMB571.2 million;. This transaction constitutes an optimization of the equity structure within the same actual controller system, with the actual controller remaining unchanged. The parties have signed a concerted action agreement to exercise voting rights in a unified manner. Upon completion of the acquisition, the Group's synergistic strategy of 'overall development via the Hong Kong-listed platform and focus on new energy via the A-share platform' with its dual listing platforms has been officially implemented. This marks a key milestone in the Group's industrial layout of three growth poles: coke, chemicals, and new energy.
Meanwhile, in June, the Group introduced a strategic investor, Zhangzhou Gulei Port Economic Development Zone Guozhi Qixu Equity Investment Partnership (Limited Partnership), which injected RMB495 million into Hebei Risun Energy Co., Ltd. During the period, the Group repurchased 22,646,000 shares, involving a total consideration of approximately RMB41.94 million, and granted share awards for the second time to 600 eligible participants. As of the end of the period, the Group held 198,217,000 treasury shares. In terms of liquidity, as of June 30, 2026, the Group held cash and cash equivalents of RMB4,455 million, a significant increase from RMB1,589 million at the beginning of the year. Unutilized banking facilities amounted to RMB9,852 million, of which RMB7,626 million were unconditional credit, indicating ample liquidity reserves. The capital gearing ratio was 2.6 times, and the debt-to-asset ratio was 78.5%, with the overall financial structure being sound and controllable. In terms of shareholder returns, the board of directors declared an interim dividend of RMB1.44 cents per share, a substantial increase of 620% compared to RMB0.20 cents per share in the same period last year. The total dividend amount is approximately RMB61.23 million, with a dividend payout ratio of not less than 30% of the profit attributable to owners of the Company for the period, fully demonstrating the Group's determination to share development achievements with shareholders.
Outlook for the Second Half: Accelerating the Advancement of Silicon-Carbon Anode, Porous Carbon Materials, and Energy Storage Projects
Looking forward to the second half of 2026 and the seventh "Five-Year Plan" period, the Group stated that it will continue to advance the construction of the 2,000-ton/year silicon-carbon material production line, 1,000-ton/year porous carbon material production line, 20-ton/year integrated anode material production line, and the supporting second phase 430MW power generation, grid load, and energy storage project, further improving the product variety in the new energy battery materials field and strengthening the cost and supply chain advantages of "green electricity + materials". The new production capacity will provide strong support for the rapid ramp-up of the Group's third growth curve. Relying on the strategic framework of the seventh "Five-Year Plan", the Group will continuously increase its market share in the fields of coke, refined chemicals, and new energy products through various means such as operation management arrangements, mergers and acquisitions, and establishing joint ventures with regional leading enterprises, promote the green transformation and high-end upgrading of the industry, and strive to achieve a higher level of sustainable development and shareholder value creation.
Copyright 2026 ACN Newswire. All rights reserved. www.acnnewswire.com
Sep 1 · 02:08·mlpr-acnnewswire
SaaS · Healthcare
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Finance · Crypto
HIGHLIGHTS:
- Gross billings amounted to approximately RMB1,679.8 million, representing a slight decrease of 1.5% from approximately RMB1,705.4 million in the Corresponding Period, with business fundamentals remaining robust.
- Total revenue was approximately RMB1,290.0 million, and profit attributable to Shareholders was approximately RMB32.3 million.
- As of the end of the Reporting Period, the balance of contract liabilities was approximately RMB1,889.4 million, which will primarily be recognized as revenue for 2026 and 2027.
HONG KONG, Sep 1, 2026 - (ACN Newswire) - 31 August, JF SmartInvest Holdings Ltd (the "Company”; together with its subsidiaries, the "Group" or "We") announces its unaudited interim results for the six months ended 30 June 2026 (the "first half of 2026" or the "Reporting Period").
Sound Financial Performance with Contract Liabilities Rise Sharply to Support Future Performance
During the Reporting Period, under the dual-driver strategy of “technology + investment research”, the Group continued to advance product innovation, AI application and investment research capabilities, maintaining a stable development momentum. Gross billings amounted to approximately RMB1,679.8 million, representing a slight decrease of approximately 1.5% from the Corresponding Period in 2025. Total revenue was approximately RMB1,290.0 million, the non-HKFRS adjusted profit for the period (i.e. excluding the share-based compensation expense) amounted to approximately RMB113.7 million, the profit for the period was approximately RMB31.9 million, and the profit attributable to Shareholders was approximately RMB32.3 million. The changes in revenue and profit were primarily because the majority of orders during the Reporting Period were derived from repurchases by existing customers, and the provision of services for most of these orders had not yet commenced. Such order amounts are expected to be gradually recognized as revenue in subsequent reporting periods upon the commencement of services.
As of the end of the Reporting Period, the balance of contract liabilities amounted to approximately RMB1,889.4 million, representing a substantial year-on-year increase of approximately 133.6%. These contract liabilities will primarily be recognized as revenue for 2026 and 2027, providing solid support for subsequent performance.
Leveraging its sound financial position and ample cash reserves, the Group consistently places great emphasis on Shareholder returns. During the Reporting Period, it repurchased a total of 4,440,800 Shares at an aggregate consideration of approximately HK$134 million, fully demonstrating the management’s confidence in the Company’s long-term development prospects.
Overseas Business Breakthrough and Globalizations Advancement
During the Reporting Period, the Group continued to deepen its strategy of “diversifying product layout domestically + exploring business overseas”. In terms of overseas business, the Group completed the strategic acquisitions of entities including Forthright Securities and Forthright Capital (collectively referred to as “Forthright”) in January 2026. The Group established “dedicated investment advisory”, “in-depth investment research” and “AI intelligent investment” as its core engines, and adopted a dual-track approach to serve mass and private wealth clients by integrating online efficiency with offline trust, advancing various business integrations and infrastructure development in an orderly manner.
Since the beginning of 2026, Forthright SmartInvest App successively launched batch trading functions for US stocks and Hong Kong stocks, with core functions such as AI assistant, AI stock diagnosis, intelligent stock selection, and AI account analysis deeply integrated into usage scenarios. The Forthright AI Stock Machine was officially launched in July 2026. The flagship store located in Sheung Wan, Hong Kong, has been put into operation, reaching a broader customer base through pop-up stores and shopping mall events. In terms of licences and qualifications, Forthright have been approved by the SFC for the addition of virtual asset-related service qualifications, and virtual asset dealing services were launched in July 2026, forming a full-chain service capability covering virtual asset dealing, investment advisory, and asset management.
AI Agent Full-Stack AI Technology System Empowers as Intelligent Investment Advisory Services Enter the Application Stage
With “AI+” as its core, the Group focused on the three major pillars of multi-agents, large models, and high-quality financial data to establish a full-stack AI product system, driving the paradigm shift in AI capabilities from “tool-based applications” to an “agent ecosystem”. During the Reporting Period, the number of FinSphere AI Agent users increased by approximately 50.9% year-on-year, with the number of effective interactions reaching 20.335 million, representing a year-on-year increase of approximately 50.5%. The To-C AI Q&A token consumption reached approximately 254.3 billion, roughly 8 times the level in the Corresponding Period, signalling that intelligent investment advisory services have entered the phase of large-scale application. In August 2026, FinSphere AI Agent was officially integrated into Tencent WorkBuddy and Alibaba Qwen Platform, becoming an officially certified securities domain expert on the platforms.
In the first half of the year, the Group continued to drive the deep integration of AI technologies with specific business scenarios and product service workflows, extending AI capabilities from single-point products to the full business matrix. The Group concurrently upgraded “AI Xiaojiu Steward”, launching features including AI stock diagnosis, AI stock selection, AI stock monitoring, and AI post-investment review; Decision Master upgraded its exclusive Q&A intelligent agent “AI Xiaoce”; and Forthright SmartInvest App launched exclusive functions such as AI account diagnosis and AI position analysis. During the Period, the Group also launched the digital employee assistant “AIX” and built an AI content centre reaching 3.109 million users, processing a daily average of approximately 1.5 million customer messages. Research and development expenses for the Reporting Period amounted to approximately RMB167.1 million (representing approximately 13.0% of revenue), with 657 R&D personnel. As of the end of the Reporting Period, the Group had 167 software copyrights and patents, representing a year-on-year increase of 28.
Upgrading Product Matrix with AI and Quantitative Capabilities
In the first half of 2026, the Group continued to deepen its diversified product strategy, and the synergistic effects of its multi-level product system gradually emerged. The VIP products steadily iterated around “AI + Quantitative”, launching the Xingtou Quantitative Platform and introducing multiple quantitative indicators such as the Sentiment Barometer , as well as 6 AI quantitative strategy portfolios. Decision Master launched the “Premium Version”, achieving an upgrade from delivery of viewpoints and content to full-process decision-making support, with AI services covering approximately 55% of active users during the Reporting Period. The Enjoy-Stock Pad launched the new-generation “Intelligent Navigation Edition”, covering six core AI functions. Jiuyao Stocks continuously enriched its small-denomination product matrix, with the AI upgrade coverage rate of its products reaching 43%. Star-tier Services created a closed-loop ecosystem of “tools-services-trading”, continuously enriched premium functional modules. Through its tiered product matrix, the Group precisely addressed the differentiated needs of investors ranging from entry-level to advanced users.
The enhancement of product capabilities directly drove steady growth in user scale and operational performance. During the Reporting Period, the number of paying users reached 462,217. The Group operated approximately 1,180 accounts on different internet platforms, attracting over 73 million followers. Monthly active users of SmartInvest App increased by approximately 15% year-on-year, with a 30-day retention rate exceeding 60%. Service quality improved simultaneously, with the refund rate for VIP products further optimized to approximately 19.8%, representing a decrease of 4.8 percentage points from the Corresponding Period, and user satisfaction steadily increased.
Deepening Investment Research with Breakthroughs in Density and Depth
The Group continuously deepened its “1 research institute and N business lines” investment research system, with JF Financial Research Institute as the core. It adhered to the “buyer-side investment advisory” philosophy and combined AI technology for service efficiency enhancement. This empowered user service scenarios, product capability optimization, and employees” professional standards. During the Reporting Period, the institute cumulatively conducted 336 research sessions on listed companies, representing a year-on-year increase of approximately 270 sessions. It also undertook on-site visits to more than 20 cities nationwide, covering more than 10 trending industries including biomedical science, mechanical equipment, and electronic semiconductors.
Concurrently, the institute newly established a quantitative research team, supported by a supercomputing system and a quantitative factor library covering A-shares and ETFs. The quantitative products have been incorporated into the VIP business service system. As of the end of the Reporting Pemachinriod, the Group had 625 employees who possessed qualifications for securities investment advisors and 2,745 employees who possessed qualifications for securities practitioners. Adopting postdoctoral cultivation as a long-term talent strategy, the Group continuously enhances its competitiveness in investment research.
Future Outlook
The chairman of the Board and chief executive officer of JF SmartInvest Holdings Ltd, Mr. Chen Wenbin said: “In the first half of 2026, we consistently adhered to the dual-driver strategy of “technology + investment research”, and our overall development remained robust. During the Reporting Period, gross billings remained generally stable year-on-year, and contract liabilities grew substantially, accumulating ample momentum for subsequent performance release. We successfully completed the strategic acquisitions of Forthright, achieving a key milestone in our overseas expansion. AI capabilities are accelerating their penetration across the entire product matrix, the “1+N” investment research system continues to deepen with significant improvements in research density and depth, and all strategic deployments have made substantial progress.
Looking ahead, the Group will firmly implement its Group-wide AI technology strategy, driving the continuous evolution of AI capabilities from “tool-based applications” to an “agent ecosystem”. At the same time, we will deepen our globalization strategy, leveraging Forthright as platforms and taking “dedicated investment advisory”, “in-depth investment research” and “AI intelligent investment” as core engines to build a new generation of internet securities brokerage and cultivate a second growth curve. We will continue upgrading product functions, enriching our product matrix, and precisely addressing investors' diverse needs across all levels and markets. In addition, we will optimize our omni-domain traffic system to drive synergy between public and private channels, further strengthening user stickiness. We are committed to making investment and wealth management simpler and more professional, and enhancing the sense of happiness in investment and wealth management.”
About JF SmartInvest Holdings Ltd (Stock Code: 9636)
JF SmartInvest Holdings Ltd is a next-generation stock investing assistant, providing individual investors with equity investment tools, securities investment advisory, investor education and other services, with product offerings including Stock Navigator, Super Investor, Decision Master, Enjoy-Stock Pad, Jiuyao Stocks and Star-tier Services. Through the “Technology + Investment Research” model, the Company develops AI products such as FinSphere AI Agent based on artificial intelligence (AI) and big data technology, achieving innovative industry practices and scenario applications. Overseas, the Company conducts securities-related businesses in Hong Kong through licensed entities such as Forthright Securities and Forthright Capital. Taking “dedicated investment advisory”, “in-depth investment research” and “AI intelligent investment” as its core engines, the Company is committed to building a new generation of internet securities brokerage in the AI era.
For enquiries, please contact:
Financial PR (HK) Limited
Email: ir@financialpr.hk
Tel: 852 2610 0846
Fax: 852 2610 0842
Copyright 2026 ACN Newswire. All rights reserved. www.acnnewswire.com
Sep 1 · 01:41·mlpr-acnnewswire
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