MeiHua Holdings Group (600873) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 5.99 billion, down 4.51% year-over-year due to lower selling prices for key products despite increased sales volume from new capacity.

• Net profit attributable to shareholders fell 88.42% year-over-year to RMB 118 million, mainly due to product price declines.

• Cash flow from operating activities was negative RMB 1.16 billion, a significant decrease from the prior year, primarily due to increased raw material payments.

Financial highlights

• Operating income: RMB 5.99 billion, down 4.51% year-over-year.

• Net profit: RMB 118 million, down 88.42% year-over-year.

• Basic and diluted EPS: RMB 0.04, down 88.89% year-over-year.

• Net cash flow from operations: -RMB 1.16 billion, compared to RMB 453 million positive last year.

• Total assets at quarter-end: RMB 25.97 billion; equity attributable to shareholders: RMB 16.42 billion.

Outlook and guidance

• Management highlights ongoing focus on optimizing global production capacity and core business development following the sale of the Thailand plant.