On April 9, Drinda issued a series of announcements disclosing its financial report for the first quarter of 2026, as well as the capital increase and share expansion matters of its holding subsidiary. While deeply cultivating its main photovoltaic (PV) business to achieve a recovery in profitability, the company is actively fostering a second growth curve through capital operations and strategic investments.
Profitability of the Main Business Rebounds Significantly, with Net Profit Increasing by 113.38% Year-on-Year
During the reporting period, the company achieved an operating revenue of 1.694 billion yuan, representing a year-on-year decrease of 9.63%. However, the net profit attributable to shareholders of the listed company reached 14.1636 million yuan, achieving a substantial year-on-year growth of 113.38%.
In response to this, Drinda stated that this was primarily attributable to the optimization of supply and demand dynamics in the photovoltaic industry and the release of demand in key overseas markets. By seizing industry opportunities, deeply cultivating its main business of photovoltaic cells, and promoting cost reduction, efficiency enhancement, and market expansion, the company's operating conditions have steadily improved, and its profitability has achieved a significant rebound.
Broadening Application Scenarios and Actively Fostering a Second Growth Curve
While consolidating the advantages of its main business, Drinda is also actively cultivating a second growth curve.
In terms of fund preparation, Drinda completed the placement of H shares in February 2026, raising a net amount of approximately 398 million Hong Kong dollars. This provides solid financial support for technological research and development, capacity layout, and the cultivation of the second growth curve.
On the strategic investment front, the company, on one hand, participated in Shanghai Xingyi Xinneng Technology Co., Ltd. with cash contributions, acquiring a 16.6667% equity stake; on the other hand, it acquired a 60% equity stake in Shanghai Fuyao Xinghe Aerospace Technology Co., Ltd. through a cash buyout, thereby indirectly controlling Shanghai Xuntian Qianhe Space Technology Co., Ltd. This further broadens the application scenarios of photovoltaic technology, assists the company in cultivating a second growth curve, and seizes development opportunities in high-end energy application fields.
Holding Subsidiary Receives Capital Increase from Core Executives
While disclosing the first-quarter report, Drinda also announced the capital increase and share expansion matters regarding its holding subsidiary, Shanghai Fuyao Xinghe Aerospace Technology Co., Ltd.
To promote the business development of Fuyao Xinghe, Zheng Hongwei, Vice Chairman and Deputy General Manager of Drinda, plans to make a cash contribution of 14 million RMB to subscribe for the newly added registered capital of Fuyao Xinghe.
In this capital increase and share expansion, Drinda has chosen to waive its preemptive right to subscribe for this capital increase. Upon completion of the transaction, the registered capital of Fuyao Xinghe will increase from 11 million RMB to 11.28 million RMB. Drinda's shareholding ratio in the subsidiary will be diluted from the original 60% to 58.51%, while Zheng Hongwei will hold a 2.48% equity stake.
Source：EnergyTrend