Liaoning Shidai Wanheng Co Ltd

Shidai Wanheng hit the daily limit-up again on October 9, closing at 11.76 yuan per share with a total market value of about 3.5 billion yuan, marking the fifth consecutive trading day of limit-up gains. The company issued a stock trading risk warning announcement in the evening, saying that short-term share price volatility is relatively large, and there may be irrational speculation, with the risk of a rapid pullback after a sharp rise. The announcement said the company's main business is the research, development, production and sales of new energy batteries, involving two parts: lithium-ion batteries and nickel-metal hydride batteries. The lithium battery products are small-power cylindrical ternary lithium batteries, mainly used in the small power tool sector, with the 1865 and 1450 models as the main products. The nickel-metal hydride battery products are mainly used in personal care, consumer goods, power tools and other fields. The company's products are not involved in solid-state batteries. Financial data shows that in 2025 the company achieved operating revenue of 383 million yuan, down 4.39 percent year on year, and a net loss attributable to the parent company of 132 million yuan, compared with a profit of 19.3829 million yuan in the same period last year, turning from profit to loss. In the first half of this year, the net loss attributable to the parent company was 12.4599 million yuan, also turning from profit to loss year on year. That evening, several other stocks also issued announcements on abnormal share price movements. Shanghai Xiba, which had three limit-ups in four trading days, said its solid-state battery related business has not yet formed long-term stable large-scale revenue. In the first half of 2026, revenue from its new energy advanced materials business was 13.3737 million yuan, accounting for 5.72 percent of total revenue. Hongdou Shares, which had two consecutive limit-ups, said its daily operating activities are normal, and it recorded a net loss of 94.394 million yuan in the first half of 2026.

On October 8, the battery sector surged against the market trend, and that evening several companies issued announcements on abnormal stock trading fluctuations and risk warnings. Jinlongyu announced that its stock's closing price deviation over three consecutive trading days on September 29, September 30, and October 8 cumulatively exceeded 20%. Its solid-state battery business is still in the capacity construction and downstream customer development stage. Although it has received small-batch orders, it has not yet formed long-term stable revenue and does not yet have a material impact on overall performance. The project faces risks that industrialization and commercialization may fall short of expectations. Shidai Wanheng announced that from September 28 to October 8, its stock hit the daily limit-up for four consecutive trading days, and there may be irrational speculation, with the risk of a rapid pullback after a sharp rise in the stock price. The company's main business is the research, development, production, and sales of new energy batteries, covering lithium-ion batteries and nickel-metal hydride batteries. Current production and operations are normal, and there have been no major changes in its main products, production lines, or operating fundamentals. Its net profit attributable to shareholders of the listed company was negative 132 million yuan in 2025 and negative 12.4599 million yuan in the first half of 2026. Veken Technology announced that the market has recently paid more attention to sodium-ion battery-related concepts. The industry as a whole is still in the early stage of industrialization, and there remains uncertainty in technology routes and market promotion progress. The company's sodium-ion battery-related business accounts for a relatively small proportion, and achieving large-scale commercialization still requires a certain period, with an extremely limited contribution to current overall performance.

Shidai Wanheng released its 2026 interim report, with net profit attributable to the parent company at negative 12.46 million yuan, swinging from profit to loss year-on-year. Total operating revenue was 248 million yuan, up 38.42% from the same period last year, marking a second consecutive year of growth. Net cash flow from operating activities was negative 84.92 million yuan, down 640.46% year-on-year. The company's latest asset-liability ratio was 20.62%, gross margin was 8.76%, return on equity was negative 1.22%, and diluted earnings per share was negative 0.04 yuan.

On the evening of July 10, several Northeast China-listed companies released their earnings forecasts for the first half of 2026. Among them, Time Wanheng and Fushun Special Steel expect losses, Daqing Huake expects a year-on-year decline in performance, while Quanyangquan expects growth. Time Wanheng expects net profit attributable to owners of the parent company for the half year to be between negative 14 million yuan and negative 11.5 million yuan, mainly due to a significant drop in gross margin for its lithium battery business. Fushun Special Steel expects net profit attributable to shareholders of the listed company to be between negative 270 million yuan and negative 230 million yuan, affected by intensified competition in the special steel market and weak demand in traditional sectors. Daqing Huake expects net profit attributable to shareholders of the listed company to be between 3.5 million yuan and 4.5 million yuan, a year-on-year decline of 61.39% to 50.35%, as fluctuations in international crude oil prices compressed gross margins. Quanyangquan expects net profit attributable to shareholders of the listed company to be 38.73 million yuan, a year-on-year increase of 65%, with sales volume growth in its core mineral water business reaching 33%.