Benchuan Zhineng forecasts nine-month net profit up 190%-335% year on year
In short
Benchuan Zhineng (本川智能, 300964.SZ) said on October 8 it expects net profit attributable to shareholders of 96 million to 144 million yuan for the first three quarters of 2026, up 190.24%-335.36% year on year. The company attributed the increase mainly to its major-customer strategy and long-term cooperation with leading manufacturers. It also said high-end printed circuit board (PCB) products make up a rising share of revenue.
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Benchuan Zhineng (本川智能, 300964.SZ) said in an announcement on October 8 that it expects net profit attributable to shareholders of 96 million to 144 million yuan for the first three quarters of 2026, an increase of 190.24% to 335.36% from a year earlier. The forecast was reported by CLS, Yicai, 36Kr and Jiemian, and Jiemian carried it again in its investor morning briefing on October 9. [ 1 , 2 , 3 , 4 , 5 ]
The company said the change was mainly due to deepening its major-customer strategy, binding closely with quality customers in the industry and building long-term, stable cooperation with many leading manufacturers, while signing strategic cooperation agreements to underpin its orders. Faced with price fluctuations in upstream raw materials such as copper-clad laminate, it said it relied on stable customer relationships and the bargaining power of large-scale purchasing to adjust product prices in an orderly way and protect its profit margins. [ 1 , 3 ]
According to the announcement as reported by CLS, the company is also adjusting its customer mix, gradually clearing out low-margin, low-return orders and concentrating resources on high-credit, high-value customers. It said the revenue share of high-end PCB products, including high-layer-count boards, high-end HDI, embedded components and embedded copper, has risen steadily. CLS calculated that third-quarter net profit is expected at 53 million to 101 million yuan, compared with 31 million yuan in the second quarter, implying quarter-on-quarter growth of 73% to 229%. [ 1 ]
Why it matters
The forecast points to a large rise in the company's profit compared with a year earlier, and business and tech outlets reported it the same evening. The company links the gain to price adjustments, dropping low-margin orders and a shift toward higher-end PCB products such as high-layer-count boards and high-end HDI.
Key facts
- Benchuan Zhineng expects net profit attributable to shareholders of 96 million to 144 million yuan for the first three quarters of 2026. [ 1 , 3 , 4 ]
- The forecast represents year-on-year growth of 190.24%-335.36%. [ 1 , 2 , 3 , 4 , 5 ]
- The company attributed the change mainly to deepening its major-customer strategy, long-term stable cooperation with many leading manufacturers and strategic cooperation agreements that underpin orders. [ 1 , 3 ]
- Facing price fluctuations in upstream raw materials such as copper-clad laminate, the company said it adjusted product prices in an orderly way. [ 1 ]
- The company said it is phasing out low-margin, low-return orders. [ 1 ]
- The revenue share of high-layer-count boards, high-end HDI, embedded-component and embedded-copper PCB products has risen steadily, the company said. [ 1 ]
- By CLS's calculation, third-quarter net profit is expected at 53 million to 101 million yuan, up 73%-229% from 31 million yuan in the second quarter. [ 1 ]
Confirmed by several sources
- Benchuan Zhineng forecast net profit attributable to shareholders of 96 million to 144 million yuan for the first three quarters. [ 1 , 3 , 4 ]
- The forecast net profit is up 190.24%-335.36% year on year. [ 1 , 2 , 3 , 4 , 5 ]
- The company cited its major-customer strategy and long-term cooperation with leading manufacturers as the main reasons. [ 1 , 3 ]
Still unclear
- Third-quarter net profit of 53 million to 101 million yuan and quarter-on-quarter growth of 73%-229%. These figures are CLS's own calculation, not stated by the company in the reports, and appear only in CLS.
- The company's statements on price adjustments, phasing out low-margin orders and the rising share of high-end PCB products. Only CLS reported these details from the announcement.
- Final nine-month results. The figures are a forecast range; the documents do not give final results.
What local media are saying
Timeline, local time
- October 8: CLS reports Benchuan Zhineng's announcement forecasting nine-month net profit up 190%-335%. [ 1 ]
- October 8: Yicai reports the forecast growth of 190.24%-335.36%. [ 2 ]
- October 8: 36Kr reports the forecast and the company's explanation. [ 3 ]
- October 8: Jiemian reports the forecast of 96 million to 144 million yuan. [ 4 ]
- October 9: Jiemian includes the forecast in its investor morning briefing. [ 5 ]