QFII Holdings in 14 Firms Reach RMB 11.995 Billion; CATL Plans RMB 20-40 Billion Buyback

As of July 28, 14 listed companies have disclosed their holdings by qualified foreign institutional investors (QFII), with a combined market value of approximately RMB 11.995 billion. Specifically, QFII held 27.3666 million shares of CATL, 19.4441 million shares of Jinmei Technology, 7.2878 million shares of Zhonglan Environmental, 7.1954 million shares of Hainan Mining, 4.9259 million shares of Sushi Testing, and 4.4114 million shares of Zhengtai Power.

CATL's semi-annual report showed that in the first half of 2026, the company achieved operating revenue of RMB 276.92 billion, up 54.8% year on year, and net profit attributable to shareholders of RMB 43.28 billion, up 41.98%. Combined sales of power and energy storage batteries rose approximately 60% year on year, with energy storage batteries accounting for about one-quarter of total sales. CATL also announced plans to repurchase shares using no less than RMB 20 billion and no more than RMB 40 billion, with the repurchased shares to be cancelled to reduce registered capital. Upon completion, this buyback would surpass the previous single-repurchase record of RMB 15 billion set by Gree Electric Appliances.

In terms of position changes, QFII increased holdings in Jinmei Technology by 14.1866 million shares and Zhonglan Environmental by 6.6857 million shares in the second quarter, while reducing holdings in Wohua Pharmaceutical by 5.623 million shares and Youcai Resources by 2.3224 million shares. All other stocks were new QFII positions in the second quarter. Jinmei Technology reported first-half operating revenue of RMB 478 million, up 1.06% year on year, and net profit attributable to shareholders of RMB 20.4138 million, turning from a loss to a profit.

Based on the median values of semi-annual reports, earnings forecasts, and preliminary results, the first batch of 14 QFII-held companies generally performed well in the first half. Haozhi Machinery saw net profit attributable to shareholders surge 266.57% year on year, and Youcai Resources rose 103.87%. China Shipbuilding Special Gas, Hainan Mining, and Wohua Pharmaceutical posted net profit growth of 95.63%, 82%, and 51.23%, respectively. Jinmei Technology achieved a turnaround to profitability.

Haozhi Machinery reported first-half operating revenue of RMB 1.166 billion, up 65.86% year on year, and net profit attributable to shareholders of RMB 232 million, up 266.57%. Sales revenue from spindle products reached RMB 816 million, up 79.73% year on year, accounting for 69.96% of main business revenue. Among these, sales volume and revenue of PCB drilling spindles, PCB routing spindles, lathe spindles, and CNC engraving and milling spindles all achieved significant year-on-year growth. Functional components such as rotary tables and linear motors generated sales revenue of RMB 166 million, up 78.25% year on year, representing 14.23% of main business revenue. Driven by demand from AI computing infrastructure, sales volume and revenue of linear motors and direct-drive rotary tables both increased substantially.

Youcai Resources reported first-half operating revenue of RMB 1.33 billion, up 7.87% year on year, and net profit attributable to shareholders of RMB 82.5863 million, up 103.87%. The earnings growth was mainly attributed to the pass-through of rising upstream raw material prices and improved product gross margins, along with optimized operational management, strengthened market expansion and R&D investment, and the gradual release of benefits from convertible bond-funded projects.

From the second quarter through July 27, margin financing funds added RMB 1.823 billion to China Shipbuilding Special Gas, RMB 1.774 billion to CATL, and RMB 868 million to Haozhi Machinery. China Shipbuilding Special Gas recently stated that due to a sharp rise in upstream tungsten powder prices, production costs for tungsten hexafluoride have come under significant pressure. Starting in the third quarter, the company shifted to an independent pricing strategy based on supply-demand dynamics, industry trends, market competition, and national policies, with the new pricing mechanism implemented from the beginning of the third quarter. The company's current tungsten hexafluoride capacity is 2,000 tonnes per year, with capacity utilization at a relatively high level.