Weigang Environmental Technology Holding Group Limited (WG ENV TECH) reported 1H26 revenue of RMB 82.81 million, up 2.6% year-on-year. Gross profit climbed 10.5% to RMB 17.87 million, lifting gross margin 1.5 ppts to 21.6%.

Net loss widened to RMB 14.54 million (1H25: RMB 9.89 million), translating into a net loss margin of 17.5% versus 12.3% a year earlier. Loss attributable to shareholders reached RMB 12.27 million, equating to a basic and diluted loss per share of RMB 0.920 cents (1H25: RMB 0.551 cents).

Segment revenue mix shifted sharply: • Oilfield auxiliary services grew 7.4% to RMB 51.95 million and generated gross profit of RMB 13.00 million (margin 25.0%). • Hazardous-waste incineration solutions fell 46.4% to RMB 5.94 million; gross profit dropped to RMB 1.60 million (margin 27.1%). • Cement-kiln co-treatment services declined 35.7% to RMB 11.72 million with gross profit of RMB 1.20 million (margin 10.3%). • Oil-sludge thermal desorption surged to RMB 9.04 million from RMB 0.40 million, swinging to a gross profit of RMB 1.50 million. • Maintenance services rose 50.0% to RMB 4.16 million, delivering gross profit of RMB 0.60 million.

Operating expenses were mixed: administrative costs eased 8.7% to RMB 22.98 million, whereas R&D expenditure increased 29.2% to RMB 6.16 million, reflecting continued investment in pyrolysis and other waste-treatment technologies. A smaller impairment-loss reversal of RMB 3.16 million (1H25: RMB 8.27 million) also weighed on earnings.

Cash and cash equivalents stood at RMB 87.69 million at end-June (end-2025: RMB 95.80 million). Net current assets were RMB 149.82 million, while total borrowings declined to RMB 62.47 million from RMB 74.82 million. The gearing ratio improved to 39.4% from 43.6% six months earlier. Capital expenditure was RMB 9.30 million, primarily for property, plant and equipment; outstanding capital commitments were RMB 1.00 million.

Management reported completion of one hazardous-waste incineration project (30,000 tpa) and continued work on three projects (60,000 tpa total) plus expansion in oil-sludge treatment and cement-kiln co-processing. The company highlighted supportive PRC environmental policies and plans to advance pyrolysis technology, broaden project models, and explore AI applications in environmental services.

No interim dividend was declared for the period.