Ling Yunguang, Jiangfeng Electronics, and Pathfinder's first half performance forecasts are released

Recently, Ling Yunguang, Jiangfeng Electronics, and Pathfinder have successively released their 2026 semi-annual performance forecasts. Driven by AI computing power, semiconductors, new displays and other related businesses, the net profits attributable to the parent companies of the three companies all achieved year-on-year growth. Among them, Lingyun Optical increased by approximately 590% year-on-year, Jiangfeng Electronics had the highest estimated increase of 121.65%, and Pathfinder had the highest expected increase of 178.69%.

Ling Yunguang

Ling Yunguang expects to achieve a net profit attributable to the owners of the parent company of approximately 662 million yuan in the first half of 2026, an increase of approximately 566 million yuan from the same period last year, a year-on-year increase of approximately 590%.

Ling Yunguang said that in the first half of the year, the company continued to promote the strategic transformation of AI, seized the growth opportunities of downstream intelligent upgrades and new AI infrastructure, continued to optimize product structure and industrial layout, and achieved positive results in business expansion; the company also made positive progress in improving internal operations and management efficiency, and the profitability of its main business was further enhanced.

In addition, the equity of Zhipu Huazhang held by the company's wholly-owned subsidiary recognized a large amount of fair value change income due to the increase in valuation, which contributed significantly to the net profit of the current period. This income is a non-recurring profit and loss.

Jiangfeng Electronics

Jiangfeng Electronics expects to achieve attributable net profit of approximately 480 million to 560 million yuan in the first half of the year, a year-on-year increase of 89.99% to 121.65%.

During the reporting period, driven by the continued release of demand for AI computing power, memory chips, and logic chips, as well as the expansion of downstream wafer manufacturing capacity, the company's ultra-high-purity metal sputtering target revenue grew steadily, semiconductor precision component products continued to increase in volume, and orders from domestic and foreign customers continued to increase.

At the same time, the company actively promotes the construction of the Huanghu target smart factory and the Jiangfeng target factory in South Korea, accelerates the construction and expansion of projects such as electrostatic chucks and brittle materials, and further improves the layout of semiconductor core materials and precision components.

In addition, the company expects non-recurring profits and losses of approximately 300 million to 330 million yuan, which will be mainly affected by factors such as changes in the fair value of Xinlian Integration and the transfer of part of the equity of associates.

Pathfinder

Pathfinder is expected to achieve attributable net profit of 46 million to 56 million yuan in the first half of the year, a year-on-year increase of 128.92% to 178.69%.

As for the reasons for the change in performance, Pathfinder said that firstly, the overall development of the chip business was good, and the company's newly acquired Shanghai Tongtu and Shenzhen Beitelai were included in the consolidated statements, which increased profit contribution year-on-year; secondly, although the operating income of the outdoor segment increased, due to business adjustments, related expenses increased, resulting in a year-on-year operating profit decline; thirdly, due to the impact of exchange rate fluctuations in the current period, exchange gains were realized, while exchange losses occurred in the same period last year, resulting in profit contribution year-on-year.