BEIJING, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Julong Holding Limited (“Julong” or the “Company”) (Nasdaq: JLHL), a growth-oriented provider of intelligent integrated solutions, today announced its unaudited financial results for the six months ended March 31, 2026.
First Half of Fiscal Year 2026 Financial Highlights
- Revenues increased by 21.6% to RMB124,293 thousand (US$18,019 thousand) for the six months ended March 31, 2026, from RMB102,175 thousand in the same period of fiscal year 2025.
- Gross profit increased by 16.4% to RMB19,453 thousand (US$2,820 thousand) for the six months ended March 31, 2026, from RMB16,719 thousand in the same period of fiscal year 2025.
- Gross margin was 15.7% for the six months ended March 31, 2026, compared with 16.4% in the same period of fiscal year 2025.
- Net income increased by 0.8% to RMB11,659 thousand (US$1,690 thousand) in the six months ended March 31, 2026, from RMB11,567 thousand in the same period of fiscal year 2025.
Mr. Jiaqi Hu, the founder, Chairman of the Board of Directors, and Chief Executive Officer of Julong, commented, “We are pleased to report solid results for the first half of fiscal year 2026, despite a challenging external environment. Total revenue increased by 21.6% year over year, reflecting the continued strength of our core engineering solutions business. This growth was primarily driven by an increase in the number of intelligent projects we served, with contracts under execution for our engineering solutions business rising to 322 from 226 in the same period last year. Additionally, we saw encouraging early-stage momentum in our sale of equipment and materials for intelligent systems, which complements our core business. With a rising number of contracts under execution in our domestic engineering solutions business and our continuous efforts to expand our international footprint, we are confident that we will sustain this momentum and capture new opportunities across our markets.”
Ms. Airu Chen, the Chief Financial Officer of Julong, said, “We delivered a year-over-year revenue increase of 21.6%, reaching RMB124 million in the first half of fiscal year 2026, with revenue from our core engineering solutions for intelligent projects business rising 22.9% year over year. Notably, revenue from the sale of equipment and materials for intelligent systems grew substantially, climbing to RMB346 thousand from RMB10 thousand in the same period last year. Gross profit increased 16.4% year-over-year to RMB19.5 million and we remained profitable with net income of RMB11.7 million. As we continue to support the execution of our project pipeline, we remain focused on improving operational efficiency and creating sustainable, long-term value for our business partners and shareholders.”
Unaudited Financial Results for the First Half of Fiscal Year 2026
Revenues increased by 21.6% to RMB124,293 thousand (US$18,019 thousand) in the six months ended March 31, 2026, from RMB102,175 thousand in the same period of fiscal year 2025, primarily attributable to an increase in the number of intelligent projects where we provided engineering solutions.
Revenues from engineering solutions for intelligent projects increased by 22.9% to RMB120,265 thousand (US$17,435 thousand) in the six months ended March 31, 2026, from RMB97,861 thousand in the same period of fiscal year 2025.
Revenues from intelligent project operation and maintenance were RMB3,682 thousand (US$534 thousand) in the six months ended March 31, 2026, compared with RMB4,304 thousand in the same period of fiscal year 2025.
Revenues from sales of equipment and materials of intelligent systems increased to RMB346 thousand (US$50 thousand) in the six months ended March 31, 2026, from RMB10 thousand in the same period of fiscal year 2025.
Cost of revenues increased by 22.7% to RMB104,839 thousand (US$15,199 thousand) in the six months ended March 31, 2026, from RMB85,457 thousand in the same period of fiscal year 2025.
Gross profit increased by 16.4% to RMB19,453 thousand (US$2,820 thousand) in the six months ended March 31, 2026, from RMB16,719 thousand in the same period of fiscal year 2025.
Gross margin was 15.7% for the six months ended March 31, 2026, compared with 16.4% in the same period of fiscal year 2025, primarily due to change in revenue mix.
Operating expenses increased by 91.9% to RMB5,960 thousand (US$864 thousand) in the six months ended March 31, 2026, from RMB3,106 thousand in the same period of fiscal year 2025, primarily due to an increase in service fee for RMB2,061 thousand (US$299 thousand).
Operating income was RMB13,494 thousand (US$1,956 thousand) in the six months ended March 31, 2026, compared with RMB13,613 thousand in the same period of fiscal year 2025.
Net income increased by 0.8% to RMB11,659 thousand (US$1,690 thousand) in the six months ended March 31, 2026, from RMB11,567 thousand in the same period of fiscal year 2025.
Basic and diluted net income per share was RMB0.54 (US$0.08) in the six months ended March 31, 2026, compared with RMB0.58 per share in the same period of fiscal year 2025.
Balance Sheets
As of March 31, 2026, the Company had cash and cash equivalents and restricted cash of RMB43,217 thousand (US$6,265 thousand), compared with RMB62,248 thousand as of September 30, 2025.
About Julong Holding Limited
Founded in 1997, Julong is a growth-oriented professional provider of intelligent integrated solutions to public utilities, commercial properties, and multifamily residential properties operating at scale in China. The Company’s comprehensive suite of intelligent integrated solutions includes systems for intelligent security, fire protection, parking, toll collection, broadcasting, identification, data room, emergency command, and city management. Since its inception, Julong has focused on the successful and on-time execution of complex projects, through its “deliveries before deadline” and “customers first” initiatives. As Julong continues to cross-sell its service and solution offerings and advance its purpose-built technologies, the Company is well-positioned to achieve economies of scale and capture future opportunities.
For more information, please visit: ir.julongzx.com.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements relating to the Company’s future operating and financial performance, business strategies, and growth plans. These forward-looking statements can be identified by terminology such as “will,” “would,” “may,” “expects,” “anticipates,” “aims,” “future,” “continues,” “could,” “should,” “target,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar expressions. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions, competition, and other factors discussed in the “Risk Factors” section of the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Investor Relations:
Email: [email protected]
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30,
2025 As of March 31,
2026 As of March 31,
2026 RMB RMB US$ ASSETS Current assets Cash and cash equivalents 62,247,145 43,216,643 6,265,098 Restricted cash 600 600 87 Accounts receivable (net of allowance of RMB91,886 and RMB56,070 as of September 30,2025 and March 31, 2026, respectively) 14,723,857 8,130,297 1,178,646 Unbilled receivables (net of allowance of RMB4,267,547 and RMB5,457,002 as of September 30,2025 and March 31, 2026, respectively) 242,066,085 303,893,778 44,055,346 Contract assets- current (net of allowance of nil and nil as of September 30, 2025 and March 31, 2026, respectively) 2,466,827 1,498,137 217,184 Other receivable (net of allowance of RMB64,103 and RMB164,106 as of September 30, 2025 and March 31, 2026, respectively) 801,734 24,234,001 3,513,192 Amounts due from related parties 3,486,135 1,105,933 160,327 Prepaid expenses and other current assets 1,966,812 4,212,170 610,635 Total current assets 327,759,195 386,291,559 56,000,515 Non-current assets Property, plant and equipment, net 83,125 161,404 23,399 Deferred tax assets 1,044,349 1,240,584 179,847 Operating lease right-of-use assets 280,398 229,471 33,266 Contract assets- non-current, net 10,955,098 10,995,921 1,594,074 Total non-current assets 12,362,970 12,627,380 1,830,586 TOTAL ASSETS 340,122,165 398,918,939 57,831,101
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) As of September 30,
2025 As of March 31,
2026 As of March 31,
2026 RMB RMB US$ LIABILITIES Current liabilities Short-term borrowing 10,000,000 10,000,000 1,449,696 Accounts payable 21,797,667 15,767,146 2,285,756 Contract liabilities 844,757 1,691,990 245,287 Accrued expenses and other current liabilities 221,848,274 275,039,372 39,872,336 Amounts due to related parties 5,244,067 3,443,940 499,266 Income tax payable 10,312,947 12,398,896 1,797,462 Operating lease liabilities, current portion 99,065 100,540 14,575 Total current liabilities 270,146,777 318,441,884 46,164,378 Non-current liabilities: Operating lease liabilities, non-current 164,896 114,254 16,563 Total non-current liabilities 164,896 114,254 16,563 TOTAL LIABILITIES 270,311,673 318,556,138 46,180,941 SHAREHOLDERS’ EQUITY Stock Subscription Receivable (14,246) (14,246) (2,065)Ordinary shares subscribed (US$0.0001 par value, 500,000,000 shares authorized as of September 30, 2025 and March 31, 2026; 21,448,632 shares issued and outstanding as of September 30, 2025 and March 31, 2026) (1) 15,269 15,269 2,214 Additional paid in capital 26,281,420 26,281,420 3,810,006 Statutory reserve 5,883,035 7,048,957 1,021,884 Retained earnings 37,645,105 48,138,412 6,978,604 Accumulated other comprehensive loss (91) (1,107,011) (160,483)TOTAL SHAREHOLDERS’ EQUITY 69,810,492 80,362,801 11,650,160 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 340,122,165 398,918,939 57,831,101
(1) Giving retroactive effect to Reorganization transactions.
JULONG HOLDING LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME
Six Months Ended March 31, 2025 2026 2026 RMB RMB US$ Revenues (including revenues from related parties of RMB42,257,767 and RMB63,792,598 for the six months ended March 31, 2025 and 2026, respectively) 102,175,246 124,292,811 18,018,674 Cost of revenues 85,456,746 104,839,391 15,198,520 Gross profit 16,718,500 19,453,420 2,820,154 Operating expenses: Selling, general and administrative expenses 3,105,980 5,959,721 863,978 Total operating expenses 3,105,980 5,959,721 863,978 Operating income 13,612,520 13,493,699 1,956,176 Interest expenses (936) (148,839) (21,577)Other income, net 263 324,664 47,066 Income before income taxes 13,611,847 13,669,524 1,981,665 Income tax expenses 2,045,183 2,010,295 291,432 Net income 11,566,664 11,659,229 1,690,233 Other comprehensive loss, net of tax of nil: - (1,107,011) (160,483)Comprehensive income 11,566,664 10,552,218 1,529,750 Net income per share-basic and diluted Weighted average number of ordinary shares outstanding-basic and diluted 20,011,132 21,448,632 21,448,632 Basic and diluted net income per share 0.58 0.54 0.08
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Ordinary shares Stock
Subscription
Receivable Additional
paid-in
capital Statutory
reserve Accumulated other
comprehensive
income (Accumulated
deficit)/Retained
earnings Total Julong
Holding Limited
shareholders’
equity Non-
controlling
interest Total
equity Number RMB RMB RMB RMB RMB RMB RMB RMB RMB Balance as of September 30, 2024 20,011,132 14,043 (14,043) - 3,267,815 - 14,108,126 17,375,941 - 17,375,941 Net income for the year - - - - - - 11,566,664 11,566,664 - 11,566,664 Provision of statutory reserve - - - - 1,156,666 - (1,156,666) - - - Foreign currency translation adjustment - 478 (478) - - - - - - - Balance as of March 31, 2025 20,011,132 14,521 (14,521) - 4,424,481 - 24,518,124 28,942,605 - 28,942,605 Balance as of September 30, 2025 21,448,632 15,269 (14,246) 26,281,420 5,883,035 (91) 37,645,105 69,810,492 - 69,810,492 Net income for the year - - - - - - 11,659,229 11,659,229 - 11,659,229 Provision of statutory reserve - - - - 1,165,922 - (1,165,922) - - - Foreign currency translation adjustment - - - - - (1,106,920) - (1,106,920) - (1,106,920)Balance as of March 31, 2026 21,448,632 15,269 (14,246) 26,281,420 7,048,957 (1,107,011) 48,138,412 80,362,801 - 80,362,801
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended March 31, 2025 2026 2026 RMB RMB US$ CASH FLOWS FROM OPERATING ACTIVITIES Net income 11,566,664 11,659,229 1,690,233 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation of property, plant and equipment 7,117 10,830 1,570 Amortization of the right-of-use assets 95,003 50,928 7,383 Provision of allowance for doubtful accounts 94,292 6,420,154 930,727 Provision of allowance for unbilled receivables 311,983 1,189,455 172,435 Changes in operating assets and liabilities Accounts receivable (4,473,997) 3,451,393 500,347 Unbilled receivables (18,755,216) (63,017,148) (9,135,568)Contract assets (2,110,855) 968,690 140,431 Other receivable (80,510) (23,532,270) (3,411,463)Prepaid expenses and other current assets (759,161) (2,245,360) (325,509)Amount due from related parties 699,026 2,380,202 345,057 Deferred tax assets (62,182) (196,235) (28,448)Non-current assets 476,681 (40,823) (5,918)Accounts payable (4,720,741) (7,985,422) (1,157,643)Accrued expenses and other current liabilities 16,811,087 46,683,831 6,767,734 Income tax payable 1,875,544 2,085,949 302,399 Contract liabilities 2,081,323 847,233 122,823 Amount due to related parties (13,836,127) (1,800,127) (260,964)Lease liabilities (95,003) (49,166) (7,128)Other Current liabilities 2,638,092 5,284,184 766,047 Net cash used in operating activities (8,236,979) (17,834,473) (2,585,455) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant and equipment - (89,109) (12,918)Net cash used in investing activities - (89,109) (12,918) CASH FLOWS FROM FINANCING ACTIVITIES Proceed from short-term borrowing 10,000,000 1,449,696 Proceed from (repayment of) short-term borrowing 10,000,000 (10,000,000) (1,449,696)Payment of deferred offering costs (1,169,139) - - Net cash provided by financing activities 8,830,861 - - Exchange rate effect on cash and cash equivalents - (1,106,920) (160,470)Net increase (decrease) in cash, cash equivalents and restricted cash 593,882 (19,030,502) (2,758,843)Cash, cash equivalents and restricted cash at beginning of the period 20,772,130 62,247,745 9,024,028 Cash, cash equivalents and restricted cash at end of the period 21,366,012 43,217,243 6,265,185