Losses deepen as Zhongyan bets on nuclear demand and a PCB acquisition
First-half loss and weak core business Zhongyan swung to a first-half loss of 12–18 million yuan, then reported an interim net loss of 19.9 million yuan with revenue down 49.65%. Delayed project approvals and longer construction times cut revenue and margins, and operating cash flow turned negative — a real drag on the shares.
The core business deterioration is the main negative force on the stock and is confirmed by the interim report.
Nuclear approvals lift demand hopes The State Council approved four nuclear projects worth over 170 billion yuan, sending Zhongyan and peers limit-up. Analysts see regular large-scale nuclear construction through the 15th Five-Year Plan, which could bring Zhongyan more orders — though policy excitement alone doesn't guarantee profits.
This is the clearest new demand catalyst pushing the stock higher this period.
240 million yuan PCB drill-bit acquisition Zhongyan will pay 240 million yuan for 60% of Shenzhen Xinhuan Yu, a PCB drill-bit maker, to build a second growth engine. The target is small and barely profitable, but promises at least 100 million yuan profit over 2026–2028; the deal is still uncertain and could strain cash.
The acquisition is the other major new event, offering growth but carrying execution and uncertainty risks.