JLHL Julong Holding Limited

NASDAQ
$6.60

Julong Holding Limited Reports Unaudited Financial Results for the First Half of Fiscal Year 2026

Tuesday, August 18, 2026 · 8:30 AM ET GlobeNewswire

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: ir@julongzx.com

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: julong@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: julong@thepiacentegroup.com

  
JULONG HOLDING LIMITED
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 


JULONG HOLDING LIMITED
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 LIMITED
UNAUDITED 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 


JULONG HOLDING LIMITED
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 


JULONG HOLDING LIMITED
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 



Source: Julong Holding Limited
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