财报分析 经济观察网 近7天（2026年2月9日至13日），山友国际（WXM.us）股价波动显著，成为主要热点。2月 11日股价单日大涨12.01%至0.51美元，成交额放大至85.67万美元，换手率达18.55%，显示短期交投活 跃度骤升；2月13日股价回调至0.48美元，单日跌幅5.54%。整体区间振幅达49.77%，5日累计涨幅 7.92%，但20日累计跌幅21.16%，反映个股分化明显。工程机械板块同期涨幅1.31%，大盘纳斯达克指 数跌1.48%，表明股价波动主要受市场情绪驱动而非行业整体影响。 公司最新财报（截至2025年9月30日的2025财年年报）显示基本面承压：营业收入1339.78万美元，同比 下滑13.70%；净利润亏损328.81万美元，净利率-24.54%；经营活动现金流为-113.64万美元，自由现金 流-164.76万美元，凸显盈利能力不足。主营业务中，Projects收入占比92.10%，但毛利率仅8.75%，资产 回报率ROA为-25.77%。财报数据未更新，近期无新业绩预告。 以上内容基于公开资料整理，不构成投资建议。 ...

经济观察网山友国际(WXM.us)近期未披露重大业务事件或公告，但股价波动较为频繁，值得关注其市 场表现。 股票近期走势 2026年1月9日，山友国际股价出现显著波动，单日跳水7.10%，报0.530美元/股，振幅1.75%。此前的 2025年12月，股价也曾多次急涨急跌，如12月19日上涨5.75%、12月17日下跌7.10%，显示短期交投活 跃度较高。 业绩经营情况 公司最新财报(截至2025年12月)显示，营业收入为15.52百万美元，净利润96.27万美元，每股收益0.18美 元，市盈率约18.90倍。目前暂无机构对该股发布评级建议。 行业政策与环境 山友国际主营暖通空调系统供应与安装，所属工程机械行业近期整体波动较小(如2026年1月9日行业涨 幅0.65%)，但个股分化明显。 未来发展 山友国际股本规模较小(成交量常低于5万股)，股价易受市场情绪影响。投资者应密切关注公司后续财 报及行业政策变化。 以上内容基于公开资料整理，不构成投资建议。 ...

Revenue Performance - Revenue decreased by approximately $2.1 million, or 13.7%, from approximately $15.5 million for fiscal year 2024 to approximately $13.4 million for fiscal year 2025[379] - Total revenues decreased by approximately $2.1 million, or 13.7%, to approximately $13.4 million for the fiscal year ended September 30, 2025, compared to approximately $15.5 million for the fiscal year ended September 30, 2024[395] - Revenue from projects increased by approximately $4.9 million, or 65.2%, to approximately $12.3 million for the fiscal year ended September 30, 2025, compared to approximately $7.5 million for the fiscal year ended September 30, 2024[397] - Revenue from products decreased by approximately $6.9 million, or 89.5%, to approximately $0.8 million for the fiscal year ended September 30, 2025, compared to approximately $7.7 million for the fiscal year ended September 30, 2024[399] - Revenue from services decreased by approximately $57,000, or 15.7%, due to a decline in service contracts from sporadic customers[419] - Revenue generated from real estate property development projects was approximately $12.5 million for fiscal year 2025, representing approximately 93.7% of total revenue[389] Profitability - Gross profit margin decreased from 18.6% for fiscal year 2024 to 8.8% for fiscal year 2025[379] - Gross profit decreased by approximately $1.7 million, or 59.3%, to approximately $1.2 million for the fiscal year ended September 30, 2025, with a gross margin of 8.8% compared to 18.6% for the fiscal year ended September 30, 2024[405] - The gross profit margin for projects decreased from 23.7% for the fiscal year ended September 30, 2024, to 8.1% for the fiscal year ended September 30, 2025[406] - Net loss for fiscal year 2025 was approximately $3.3 million, compared to a net profit of approximately $1.0 million for fiscal year 2024[380] - Net loss for the fiscal year ended September 30, 2025, was approximately $3.3 million, compared to a net income of approximately $1.0 million for the fiscal year ended September 30, 2024[413] - Net income decreased by approximately $0.5 million, from approximately $1.5 million in 2023 to approximately $1.0 million in 2024[433] Costs and Expenses - General and administrative expenses increased by approximately $3.2 million, or 403.8%, for the fiscal year ended September 30, 2025, primarily due to increased employment costs and professional service fees[409] - Cost of revenues decreased by approximately $0.4 million, or 3.3%, to approximately $12.2 million for the fiscal year ended September 30, 2025, compared to approximately $12.6 million for the fiscal year ended September 30, 2024[401] - Total cost of revenues increased by approximately $418,322, or 3.4%, to $12,639,984 for the fiscal year ended September 30, 2024[421] - Selling expenses decreased by approximately $0.1 million, or 75.1%, due to strict expenditure control[429] - Subcontracting fees constituted 12.9% of total cost of sales for fiscal year 2025[391] Backlog and Project Awards - Backlog as of September 30, 2025, was approximately $8.6 million, down from approximately $18.3 million as of September 30, 2024[383] - Project awards for fiscal year 2025 totaled approximately $4.4 million[383] Impairment and Other Losses - Credit and impairment losses recognized were approximately $1.0 million for fiscal year 2025[380] - Impairment losses decreased by approximately $0.7 million for the fiscal year ended September 30, 2025, as no such events occurred during this period[410] - Other expenses, net, increased by approximately $80,000, or 148.3%, primarily due to the absence of a similar income situation in the fiscal year 2025[411] - Impairment losses for the fiscal year ended September 30, 2024, were approximately $0.7 million, related to contract fulfillment costs for a project with a real estate customer facing liquidity issues[430] Business Development - The company incorporated a new subsidiary, Chengdu Wufang Boyuan Innovation Technology Co., Ltd., in April 2025 to explore new business opportunities in the consumer market[383] - The company has implemented stricter client vetting and advance payment terms to mitigate default risks from real estate developer clients[381]

Group 1 - The core point of the article highlights significant declines in the stock prices of several Chinese concept stocks, with notable drops in their trading volumes and market performance [1] Group 2 - KXIN (KXIN Auto) experienced a drastic decline of 62.36%, closing at 0.455 with a drop of 0.755 and a trading volume of 9.4727 million [1] - EPWK (Yipin Weike) saw a decrease of 38.10%, closing at 0.0403 with a drop of 0.0248 and a trading volume of 1.4236 million [1] - WXM (Shanyou International) fell by 22.02%, closing at 0.4600 with a drop of 0.1299 and a trading volume of 1.3871 million [1] - POM (Shiliu Yunyi) dropped by 20.80%, closing at 3.580 with a drop of 0.940 and a trading volume of 9.5167 million [1] - YGMZ (Mingzhu Freight) decreased by 17.76%, closing at 1.250 with a drop of 0.270 and a trading volume of 0.361 million [1]

Core Insights - WF International Limited has secured a one-year distribution qualification with Hisense Group, enhancing its smart climate solutions portfolio [1][2] - This partnership follows WF International's recent appointment as an authorized distributor for Qingdao Hi-Sense Hitachi Air-Conditioning Systems Co., Ltd., further solidifying its market position [2][4] - Hisense's HVAC division is recognized for its innovations in energy-efficient technologies, which will benefit WF International's client base [3] Company Developments - The partnership with Hisense is a strategic move in WF International's growth strategy, showcasing its successful track record in premium brand partnerships [4] - The company is leveraging its new capabilities in proposals for high-value projects, including a luxury residential development in Hainan covering over 100 acres [4] - WF International's portfolio now includes both mainstream and high-end intelligent climate solutions, enhancing its competitiveness across various market segments [4] Industry Context - Hisense Group's HVAC division is among the top five in China, known for its advanced variable refrigerant flow (VRF) and intelligent control technologies [1][3] - The collaboration with Hisense and Hitachi positions WF International as a trusted provider of high-performance, low-carbon HVAC solutions for residential and commercial applications [2][3]

Core Viewpoint - Chinese concept stocks experienced significant declines, with notable drops in several companies' stock prices, indicating potential volatility in the market [1] Group 1: Stock Performance - Haitan Network (HKIT) saw a decline of 33.49%, closing at 2.760, with a drop of 1.390 and a trading volume of 1.3365 million [1] - Luda Technology (LUD) fell by 24.31%, ending at 5.510, down by 1.770, with a trading volume of 207.5 thousand [1] - Gulf Resources (GURE) decreased by 23.73%, closing at 2.860, down by 0.890, with a trading volume of 118.7 thousand [1] - Shanyou International (WXM) dropped 18.54%, closing at 0.6680, down by 0.1520, with a trading volume of 228.3 thousand [1] - Masonglory (MSGY) experienced an 18.49% decline, closing at 1.190, down by 0.270, with a trading volume of 855.8 thousand [1]

Group 1 - The article reports significant declines in the stock prices of several Chinese concept stocks, with Shanyou International leading the drop at 54.86% [1] - Other notable declines include Yueshang Holdings at 45.59%, Shangao Life Sciences at 39.59%, Mint at 35.03%, and Hengfeng Technology Innovation at 24.85% [1] - The trading volumes for these stocks vary, with Yueshang Holdings having the highest at 171 million, while Hengfeng Technology Innovation had the lowest at 1.05 million [1] Group 2 - Shanyou International's latest price is reported at 1.160, reflecting a decrease of 1.410 [1] - Yueshang Holdings is priced at 0.0740, down by 0.0620 [1] - Shangao Life Sciences is trading at 0.2477, with a drop of 0.1623 [1] Group 3 - Mint's current price is 1.150, down by 0.620 [1] - Hengfeng Technology Innovation is priced at 8.860, reflecting a decrease of 2.930 [1] - The overall trend indicates a bearish sentiment in the market for these Chinese concept stocks [1]

Core Insights - Several companies have experienced significant stock price declines due to various underlying factors, reflecting the volatile nature of the market [1][7] Company Summaries - Biohaven Ltd. (NYSE:BHVN) saw its stock price decrease to $8.47, marking a drop of approximately 39.26% following an FDA rejection, leading to cuts in research and development spending [2][8] - Cheer Holding, Inc. (NASDAQ:CHR) experienced a stock price decline to $0.08, a decrease of around 36.69%, after announcing a $15 million registered direct offering, indicating a strategic shift [3][8] - Shineco, Inc. (NASDAQ:SISI) witnessed a dramatic stock price fall to $0.27, approximately 57.80%, despite announcing an $8.7 million technology deal and a major alliance in Singapore [4][8] - Viewbix Inc. (NASDAQ:VBIX) saw its stock price decrease to $1.96, reflecting a decline of about 43.19%, while entering into a $3 million private placement, suggesting potential investor confidence [5] - WF International Limited (NASDAQ:WXM) experienced a stock price drop to $1.08, a decline of approximately 57.78%, with a follow-on public offering priced at $3.44 million [6]

Core Viewpoint - WF International Limited has announced a follow-on public offering of 1,720,688 units at a price of $2.00 per unit, aiming to raise approximately $3.44 million in gross proceeds for talent acquisition and general corporate purposes [1][2][3]. Company Overview - WF International Limited specializes in integrated electromechanical solutions, focusing on HVAC systems, floor heating systems, and water purification systems [6][8]. - The company has established a strong presence in Sichuan, China, serving both commercial and high-end residential projects [6][8]. Offering Details - Each unit in the offering consists of one ordinary share and one warrant, with the warrants exercisable at the public offering price and expiring five years from issuance [1]. - The offering is being conducted on a "reasonable best efforts" basis and is expected to close around November 6, 2025, subject to customary closing conditions [2]. Use of Proceeds - The net proceeds from the offering will be utilized for talent acquisition and general corporate and working capital purposes [3]. Regulatory Information - The offering is made pursuant to a registration statement filed with the SEC, which became effective on November 3, 2025 [4].

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - SMX (Security Matters) Public Limited Company (SMX) increased by 52% to $2.24 [3] - Entravision Communications Corporation (EVC) rose by 33% to $2.66 [3] - Babcock & Wilcox Enterprises, Inc. (BW) saw a 28% increase to $4.79 [3] - NeuroPace, Inc. (NPCE) gained 24% reaching $11.71 [3] - Kennedy-Wilson Holdings, Inc. (KW) also increased by 24% to $9.30 [3] - Rigel Pharmaceuticals, Inc. (RIGL) rose by 22% to $34.72 [3] - Digital Turbine, Inc. (APPS) increased by 21% to $7.20 [3] - Lumentum Holdings Inc. (LITE) saw a 15% increase to $218.06 [3] - AsiaStrategy (SORA) rose by 14% to $3.63 [3] - Marine Petroleum Trust (MARPS) increased by 7% to $5.05 [3] Premarket Losers - Biohaven Ltd. (BHVN) decreased by 42% to $7.96 [4] - Trex Company, Inc. (TREX) fell by 34% to $30.65 [4] - Soleno Therapeutics, Inc. (SLNO) saw a 23% decline to $49.00 [4] - Axon Enterprise, Inc. (AXON) decreased by 19% to $572.00 [4] - Clover Health Investments, Corp. (CLOV) fell by 19% to $2.82 [4] - Pinterest, Inc. (PINS) decreased by 18% to $26.91 [4] - SSR Mining Inc. (SSRM) saw a 17% decline to $17.91 [4] - Upstart Holdings, Inc. (UPST) decreased by 16% to $38.81 [4] - WF International Limited (WXM) fell by 12% to $2.25 [4] - Corsair Gaming, Inc. (CRSR) decreased by 11% to $6.66 [4]