Inventory continues to rise, suppliers proactively cut prices to sell, and downstream restocking increases [SMM South China spot copper]

[Yihao New Materials: 2025 Net Loss of RMB 58.6219 Million Widened 50.85% YoY, HVLP Copper Foil Still in Sample Testing Stage] Yihao New Materials announced that the cumulative deviation in its closing price increase over the two consecutive trading days on June 15 and June 16, 2026, reached 30%, constituting abnormal fluctuation in stock trading. After self-inspection, the company stated that previously disclosed information requires no correction or supplement; there have been no significant changes in recent production and operations or in the internal and external business environment; the controlling shareholder and actual controller have no undisclosed matters that should have been disclosed, and did not trade the company’s shares during the fluctuation period. The company warned of risks, noting that its net loss attributable to shareholders of the listed company for 2025 was RMB 58.6219 million, a loss that widened by 50.85% YoY compared to 2024, and its overall performance was weaker than the industry average. The certification progress for its HVLP copper foil is slower than some of its peers; it is currently in the sample testing, analysis, and certification stage and has not yet generated revenue. In addition, the second-phase 5,500-mt production line of the “High-Precision Electrolytic Copper Foil Project with an Annual Capacity of 10,000 mt” raised investment project is advancing equipment installation and commissioning, and the commissioning time is subject to uncertainty.

[Yunnan Energy Investment: Company Plans to Invest in the Mugua Ping Wind Farm Project] Yunnan Energy Investment announced that its controlling shareholder, Yunnan Energy Group, was the bid winner for the Fuyuan County Mugua Ping Wind Farm Project under Yunnan Province's third batch of new energy projects in 2025. In accordance with Yunnan Energy Group's overall strategy and the relevant requirements for the development and construction of Yunnan Province's third batch of new energy projects in 2025, the company will actively proceed with the construction of the Fuyuan County Mugua Ping Wind Farm Project. The project is expected to have a total installed capacity of 25 MW and a total construction period of 10 months.

According to the General Administration of Customs statistics flash, from January to May 2026, China's household appliance exports reached 1.917549 billion units, up 4.1% YoY from 1.842568 billion units in the same period last year; export value was $42.785 billion, up 4.3% YoY from $41.017 billion. In May alone, household appliance exports stood at 419.892 million units; export value was $8.982 billion, up 9.5% YoY.