According to the Zhitong Finance App, Zhongbao New Materials (02439) announced that the Group expects net profit attributable to the Company's equity holders for the six months ending June 30, 2026 to be reduced to no less than RMB 17 million from approximately RMB 35.8 million for the six months ending June 30, 2025.

According to the announcement, the decline was mainly due to a decline in gross profit due to a decrease in revenue, mainly due to a decline in sales of biodegradable plastic shopping bags; an increase in property, plant and equipment depreciation in the current period, mainly due to the completion of a new production base in the Jiutai Economic Development Zone in Changchun City; and partly offset by a reduction in R&D expenses due to the completion of major projects in 2025.

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