丨Thursday, March 26, 2026丨
NO.1 Zangge Mining: Received a cash dividend of 1.539 billion yuan from the joint-stock company Julong Copper.
On March 25, Zangge Mining announced that the company received a cash dividend of 1.539 billion yuan from its joint-stock company Tibet Julong Copper Co., Ltd. on March 24. The dividend is based on Julong Copper's good performance of achieving revenue of 16.663 billion yuan and net profit of 9.141 billion yuan in 2025. The company received dividends based on its 30.78% shareholding ratio. This dividend will enhance the company's cash flow, provide financial support for operations and investments, and have a positive impact on future performance. The specific accounting treatment shall be subject to the annual audit results.
Comment: Zangge Mining enjoyed the “cash cow” dividend and received a large dividend of more than 1.5 billion yuan, which fully confirmed the excellent profitability of Julong Copper. The huge cash inflow not only significantly improved the company's cash flow situation, but also provided ample "ammunition" for its business expansion and investment. The sustained returns on high-quality equity assets have effectively smoothed performance fluctuations and further consolidated the company's long-term investment value.
NO.2 Robotco: Signed a 600 million yuan order for mass-produced coupling equipment and services suitable for pluggable silicon photonic technology routes
On March 25, Robotco announced that its wholly-owned subsidiary ficonTEC and its subsidiaries signed major contracts for daily operations with F and its subsidiaries, a company listed on Nasdaq, from March 19, 2026 to March 25, 2026. The cumulative amount equivalent to RMB is approximately 600 million yuan. They are mass-produced coupling equipment and service orders suitable for pluggable silicon photonic technology routes, accounting for more than 54.23% of the company's audited operating income in 2024. If successfully implemented, it is expected to have a significant positive impact on the company's operating performance in 2026. The performance of the contract will help the company continue to improve its technical level in the cutting-edge field of high-precision coupling equipment.
Comment: Robotco signed a large order of 600 million yuan, which is more than half of its revenue in 2024, and its performance is astonishingly explosive. This cooperation focuses on silicon photonics cutting-edge technology, and the customer is a Nasdaq-listed company. It not only locks in high performance growth in 2026, but also verifies the company's international competitiveness and technical strength in the field of high-end semiconductor equipment.
NO.3 Hongyuan Green Energy: its holding subsidiary participated in the bankruptcy and reorganization of Wuxi Suntech
On March 25, Hongyuan Green Energy announced that on March 24, the company's holding subsidiary Hongyuan Solar (Wuxi) Co., Ltd. ("Hongyuan Solar") signed a "Reorganization Investment Agreement" with Wuxi Suntech Solar Power Co., Ltd. ("Wuxi Suntech") and its managers. Hongyuan Solar and Wuxi Suntech will jointly establish New Suntech (the equity formed by Wuxi Suntech's investment will be used to pay off debts with shares from ordinary creditors), with a registered capital of 1 billion yuan. Among them, Hongyuan Solar will invest 630 million yuan to hold approximately 63% of the equity of New Suntech, and will serve as the lead investor to form an investment consortium and introduce other investors. After the establishment of New Suntech, Hongyuan Solar will pay 142 million yuan in restructuring investment to Wuxi Suntech through New Suntech after the court approves the reorganization plan, which will be used to acquire the assets required for the operation of New Suntech. The reorganization investment funds are used to pay for bankruptcy expenses, common debts, employee claims, corresponding taxes, debt repayments and related expenses to improve the repayment rate of ordinary creditors.
Comment: Hongyuan Green Energy spent 630 million yuan to lead the reorganization of Wuxi Suntech and obtain controlling stake in the new company. In the context of the intensified survival of the fittest in the photovoltaic industry, this move is intended to integrate established leading brands and channel resources to achieve low-cost expansion. If the reorganization goes smoothly, it will strengthen the company's industrial chain layout, but how to resolve the debt burden and activate operating vitality in the future is still a major management test.
