Shanying International (600567) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 14.26 billion, up 3.01% year-over-year, driven by increased sales in the paper segment.

• Net loss attributable to shareholders was RMB -681.7 million, with a significant reduction in Q2 losses compared to Q1.

• Cash flow from operating activities improved 18.88% year-over-year to RMB 1.64 billion.

• The company continued to optimize product structure, enhance automation, and improve operational efficiency.

Financial highlights

• Operating income: RMB 14.26 billion, up 3.01% year-over-year.

• Net loss attributable to shareholders: RMB -681.7 million (vs. profit of RMB 59.2 million in H1 2025).

• Basic and diluted EPS: -0.11 RMB (down from 0.01 RMB in H1 2025).

• Operating cash flow: RMB 1.64 billion, up 18.88% year-over-year.

• Gross margin declined to 4.3% from 9.5% year-over-year.

Outlook and guidance

• Management expects further improvement in H2 2026 as industry enters traditional peak season and company strategies take effect.

• Focus remains on optimizing product mix, increasing high value-added products, and cost control.