Zhitong Finance App News, Qianxun Technology (01640) announced that the group expects to lose money in the first half of 2026 and total overall expenses to be accounted for by company owners of about 120 million to 130 million yuan, while total profit and overall revenue attributable to company owners for the same period in 2025 is about 51.5 million yuan.
According to the announcement, the expected loss is mainly due to the following factors: the outbreak of the US-Iran war, leading to an increase in freight costs and a drop in demand for used electronic products; the new round of the “New Purchase Subsidy Implementation Plan” introduced by China's Ministry of Commerce took effect on January 1, 2026, narrowing the price gap between used electronic products and new electronic products, causing the unit price of used mobile phones to drop sharply, and adversely affecting the Group's second-hand e-commerce business. As a result, the Group expects to achieve revenue of approximately RMB 242 million to RMB 247 million in the medium term, a year-on-year decrease of approximately 61.8% to 62.6%. Furthermore, the Group is expected to obtain gross losses of about 13 million yuan to 17 million yuan, compared with gross profit of about 27.6 million yuan in the same period last year; and after reviewing the Group's trade receivables, advance receipts and other receivables, the Group will accrue impairment provisions of no less than 70 million yuan in the medium term. In contrast, the impairment provision that has been confirmed for the year ended 31 December 2025 is approximately $54.7 million.