Domestic AC Production Slumps 9.4% in Sept 2026, Reflecting Weak Demand

Regarding the ongoing negotiations with Oman over the Strait of Hormuz, Iranian President Pezeshkian said that Oman initially supported Iran but later adopted a more reserved stance; however, in recent meetings the two sides reached consensus again and agreed to reopen the strait’s shipping lane under a coordinated plan. Pezeshkian stressed that Iran is currently working to ensure that if the shipping lane is reopened under a specific framework, the US must also fulfill its obligations. These obligations include lifting the blockade and sanctions, unfreezing Iranian funds, and halting Israel’s hostilities in Lebanon, among others. Iran will open the Strait of Hormuz based on its own national policies.

Xinjufeng’s H1 2026 financials show rapid expansion, with total operating revenue of RMB 1.58 billion, up 26.06% YoY. Total operating costs were RMB 1.292 billion, with a gross margin of 18.21%. By product, aseptic packaging remained the absolute core, generating RMB 1.542 billion in revenue, accounting for 97.62% of total revenue and growing 26.48% YoY.

Cui Dongshu, Secretary-General of the China Passenger Car Association, noted that auto industry revenue reached RMB 6,078 billion in January–July, up 2.7% YoY, while costs rose 3.8% to RMB 5,405.8 billion. Profit fell 20% YoY to RMB 216.2 billion, with a margin of only 3.6%, well below the 6.5% average for downstream industrial enterprises, underscoring persistent profitability pressure in the sector.