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Safo Tian: Net loss expected to be between $23.2 million and $34.8 million in the first half of 2026

2026-07-22 04:09:02

Safti Tian’s announcement says it expects net profit attributable to shareholders of the parent company in the first half of 2026 to be a loss of RMB 23.20 million to RMB 34.80 million. Net profit in the same period last year was RMB 3.08 million. The company said the decline in performance this period is mainly due to two segments under pressure: (1) In the first half, in the elevator steel wire rope market, downstream industry chain prices fell, and geopolitical conflicts also affected raw material costs; product selling prices fell year over year and gross margin came under pressure, resulting in a loss for the segment. (2) In the photovoltaic industry, supply-demand contradictions have continued; affected by factors including the suspension of production around the Spring Festival, production line renovations, industry excess capacity, and continued price declines, the photovoltaic business’s performance decreased year over year.

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