Jiushun Achieves Financing and Short-Selling Eligibility, Revenue Stably Exceeds NT$200 Million for Four Consecutive Months, High-Margin Projects to Be Recognized in Second Half

Jiushun (5547-TW) announced today that it has obtained eligibility for margin trading (financing and securities lending). Simultaneously, Jiushun released its latest revenue data: July 2026 revenue reached NT$220 million, a 6.23% decrease month-on-month but a 58.24% increase year-on-year. Cumulative revenue from January to July 2026 totaled NT$1.436 billion, up 12.1% compared to the same period last year. Jiushun stated that high-margin engineering projects will be recognized in the second half of the year.

Jiushun’s revenue for the first half of 2026 amounted to NT$1.215 billion, with a gross margin of 11.5%, down from the same period last year. Net profit after tax was NT$54.84 million, or NT$1.10 per share. The company explained that while revenue grew, profitability declined compared to the previous year due to adjustments in product mix and the deferral of revenue recognition for certain high-margin projects to the second half. This is attributed to project recognition timing rather than weakened order quality or demand. With multiple new projects commencing in the third quarter and entering peak construction phases, gross margins in the second half are expected to surpass those of the first half.

In terms of engineering momentum, Jiushun will launch three landmark new projects in the second half. First, the Taichung MRT co-developed residential project will officially break ground tomorrow (7th). This project will take approximately six months from groundbreaking to significant revenue generation, marking Jiushun’s first major co-development achievement in central Taiwan following the establishment of its Dali, Taichung base. Second, the Taoyuan A21 Social Housing turnkey project has completed its design phase and is expected to contribute revenue by year-end, forming a stable long-term revenue base alongside existing projects such as Dingpu Anju, Yongfu Haoshi, and Fu’an Anju.

Third, the Beitou Daye Urban Renewal project has completed demolition and is preparing for construction, with revenue contributions expected from the first half of 2027. This signifies that Jiushun’s 'commissioned construction full-project management' model for urban renewal projects has officially entered the revenue recognition phase.

Beyond stable operational momentum, Jiushun’s vertical integration strategy is now fully in place. Centered on its core construction business, the group has established Da Shun Integration (mechanical and electrical engineering) and Jiulian Architecture (construction management). These three companies collaborate to form an integrated construction service ecosystem covering planning, design, construction management, and financial compliance. Da Shun Integration specializes in mechanical and electrical systems, including HVAC, fire protection, plumbing, power systems, low-voltage systems, and smart building technologies. By engaging in MEP design early in project planning, Jiushun avoids interface conflicts during construction, shortens project timelines, and reduces overall construction costs. The company also has independent external contracting capabilities, handling full-facility MEP works for tech factories, including high-voltage power distribution, cleanroom precision HVAC, facility plumbing, and intelligent low-voltage systems. With deep familiarity with regulations and approval processes in Hsinchu, Taichung, and Tainan Science Parks, it has opened a new revenue stream amid the AI and semiconductor fab construction boom.

Jiulian Architecture focuses on urban renewal and aging building redevelopment, offering services such as construction management, full-project management, trust fund planning, performance assurance, and urban renewal advisory.