Industrial Internet Weekly: Guolian Shares Delivers First Compute Revenue; Zhijing Technology Connects Over 700,000 Looms

# Industry Updates #

1 JD Industrial Signs Strategic Partnership with Rizhao Bank, Launches JoyIndustrial 2.0 and Five AI Innovation Products

On September 14, the strategic cooperation signing ceremony between JD Industrial and Rizhao Bank, themed "Orange e-Rong Chain, Smart Procurement of Quality Goods", was held. Earlier on September 9, JD Industrial officially launched the JoyIndustrial 2.0 series of industrial models and five AI products at the Smart Industry Forum of the 2026 JD Global Technology Explorer Conference, marking a leap from cognizing industrial supply chains to connecting the physical world. The company also initiated the establishment of the "Robot Component Industry Development Alliance", pledging to help 100 robot body manufacturers reduce costs and 100 component suppliers double their performance over the next three years. On September 18, JD Industrial further disclosed details of the five AI innovative products under iteration.

2 Guolian Shares Designates Cross-Border Business as "Third Growth Curve", Records First Compute Revenue

On September 17, Guolian Shares held its 2026 semi-annual performance briefing, clarifying that cross-border business is the company’s "third growth curve" currently in the investment and layout phase, with national headquarters and overseas warehouses in Pakistan and Kazakhstan being gradually rolled out. Previously, the company launched its "AI Global Digital Intelligence Application" system at the 11th 99 Global Chain Merchant Festival, building a Token factory that aggregates over 20 mainstream large models. Other service revenue in the first half of 2026 reached approximately 74.31 million yuan, all from compute-related business, marking the transition of its compute business from planning to revenue validation.

3 Huitongda Network Receives "Overweight/Buy" Ratings from CITIC Securities, Huachuang Securities and Other Brokerages, Continues Share Buybacks

This week, CITIC Securities released a review of Huitongda Network’s 2026 semi-annual report, maintaining an "Overweight" rating with a target price of HK$15. Huachuang Securities also maintained a "Buy" rating, noting that the company’s business structure has improved, with fast-moving consumer goods and service businesses driving major growth. On September 16, Huitongda Network repurchased 96,000 shares on the Hong Kong Stock Exchange for approximately HK$670,000, with a repurchase price range of HK$6.565 to HK$7.16.

4 Yunhanxincheng Online Platform Revenue Grows 56.96% YoY, Holds Investor Performance Briefing

On September 16, Yunhanxincheng held the 2026 Shanghai Collective Reception Day for Listed Companies and its semi-annual performance briefing. Liu Yunfeng, the company’s president, responded to investors that its domestic online platform business maintained rapid growth, with operating revenue of 2.197 billion yuan in the first half of 2026, up 56.96% year-on-year, and gross operating profit of 429 million yuan. The company is also advancing scenario-based AI implementation to expand market share through five pathways.

5 Yangcai Group Wins Bids for Large Centralized Procurement Projects Including CRSC and Shenzhen Sunshine Procurement Platform

Yangcai Group recently won successive bids for projects including CRSC’s 2026 e-commerce-based material negotiation procurement project and the 2026 Shenzhen Sunshine Procurement Platform online mall supplier procurement project. Prior to this, the company was shortlisted for projects including China FAW’s MRO industrial product e-commerce platform procurement and China Energy Engineering Corporation’s 2026 centralized procurement of office supplies and appliances. Qiao Xiaobin, vice president of Yangcai Group, held a discussion with Meng Xiangfeng, a leader at CATL.

6 Yaodouwang Completes Hundreds of Millions of Yuan in Series C Financing Led by Morgan Stanley

Internet pharmaceutical company Yaodouwang has completed hundreds of millions of yuan in Series C financing, led by Morgan Stanley, with existing shareholder Nanxi Venture Capital making additional investments. Through its "platform + self-operated + retail" model, Yaodou has built an end-to-end transaction closed loop for the pharmaceutical industry from drug manufacturers to terminals.

7 Feixiong Lingxian Features at 2026 Meat Consumption Week Special Event

From September 12 to 13, Feixiong Lingxian held the "Feixiong Lingxian 2026 Partnering with Quality Ingredients · Cooking Show" special event at Qingdao International Convention and Exhibition Center, as a key activity of the 2026 Meat Consumption Week. Previously, Feixiong Lingxian held strategic cooperation talks with Hatou Group around the frozen product industry, clarifying cooperation pathways in supply chain finance services and production-sales matchmaking.

8 Huaqiang Electronics Network Hosts Edge AI Industry Ecosystem Exchange, Participates in Shenzhen International Electronics Show

From September 9 to 11, Huaqiang Electronics Network Group and its member companies participated in the 23rd elexcon Shenzhen International Electronics Show & Embedded Expo, with a total exhibition scale of 340,000 square meters. On September 15, Huaqiang Electronics Network hosted the "Edge Intelligent Computing · Symbiotic Scenarios" 2026 Huaqiang Edge AI Industry Ecosystem Exchange, focusing on the integration of edge AI technology and industrial applications.

9 Gangyin E-commerce Hosts Visit from Shandong Tuoneng Logistics Trading Company to Advance Industry Chain Cooperation

On September 16, Li Jinde, chairman and Party branch secretary of Shandong Tuoneng Logistics Trading Co., Ltd., led a team to visit Gangyin E-commerce. Xu Saizhu, vice president of Gangyin E-commerce, and other representatives warmly received the delegation and accompanied them on a tour of the bulk commodity trading exhibition hall. The two sides exchanged views on deepening cooperation and seeking common development.

10 Zall Smart Connection Reports Interim Results: Revenue of 36.9 Billion Yuan Down 59.4% YoY

On September 18, Zall Smart Connection released its interim results announcement for the six months ended June 30, 2026. During the period, the group recorded operating revenue of approximately 36.905 billion yuan, a year-on-year decrease of 59.4%, and a net loss of approximately 1.203 billion yuan. The revenue decline was primarily due to the strategic reduction of low-margin business in supply chain management and trade operations and business structure optimization. Its subsidiary Zhongnongwang reported operating revenue of approximately 10.3 billion yuan during the period, with gross margin rising from 0.34% to 0.60%.

11 COSMOPlat Launches Ship Maintenance Smart Brain Project, Included in MIIT Digital Transformation Promotion Center Public List

On September 9, the "Future Ship Maintenance AI Robot Cluster and Smart Brain" project co-built by Wanbang Heavy Industry and COSMOPlat was officially launched in Zhoushan, Zhejiang. Leveraging cutting-edge technologies such as artificial intelligence and robot clusters, the two sides will join forces to build a future ship maintenance smart ecosystem with autonomous evolution capabilities. Additionally, on September 18, the Ministry of Industry and Information Technology (MIIT) released the public list of entities for the second batch of manufacturing digital transformation promotion centers, and COSMOPlat IoT Technology Co., Ltd. was selected to provide public digital transformation services for industries including light industry, electronic information manufacturing, petrochemicals and machinery.

12 Zhijing Technology’s Textile Digital Intelligence Platform Connects Over 700,000 Looms Nationwide

On September 16, Zhijing Technology disclosed progress in its textile industry digital industrial internet business. Targeting the industry pain points of long textile industry chains and bottlenecks in circulation links, the company has reshaped the traditional textile industry ecosystem relying on cutting-edge technologies such as big data and the Internet of Things. It has now connected over 700,000 looms nationwide to build an online textile service system, launching self-developed products including a textile industrial internet digital intelligence system, fabric inspection robots, intelligent inspection robots, and intelligent design and style development systems, connecting the entire industry chain from spinning, weaving, dyeing and finishing to clothing design, sales, and global brand expansion.

13 Baiwang Co., Ltd. and Qichacha Plan to Establish Joint Venture to Enter Enterprise Credit Technology Sector

Recently, Baiwang Co., Ltd. and Qichacha Technology plan to jointly establish a joint venture to expand into the enterprise credit technology and services field. On September 17, Baiwang held an extraordinary general meeting, where the ordinary resolution appointing Mr. Chen Hang as a non-executive director was approved with 100% affirmative votes.

14 01.AI Signs Agreement with Kazakhstan to Build National AI Education Platform

From September 15 to 16, the 2026 SCO Digital Economy Forum, co-hosted by the National Data Administration and the People’s Government of Xinjiang Uygur Autonomous Region, was held in Urumqi. At the forum, 01.AI formally signed a cooperation agreement with Kazakh enterprise Q.AI to jointly build Kazakhstan’s national AI education platform with the country’s Ministry of Education, advancing the implementation of artificial intelligence pilot projects in local education.

15 GigaCloud Technology Discloses Insider Transactions

On September 16, GigaCloud Technology (GCT) disclosed two insider transactions: director Chen Zhiwu sold 1,500 shares on the same day. Previously, the company disclosed on August 6 that its cumulative share repurchase amount in the second quarter reached $42.3 million, and it expects to release its Q3 FY2026 earnings report on November 5.

16 Yaoshibang Continues Share Buybacks This Week

On September 16, Yaoshibang (09885.HK) repurchased 197,800 shares on the Hong Kong Stock Exchange for approximately HK$665,700, with a repurchase price range of HK$3.33 to HK$3.46. On September 18, the company repurchased another 103,000 shares for approximately HK$345,900. The company conducted share repurchases on two trading days, September 16 and 18, this week.

17 Youlesai Sharing Subsidiary Enters Construction Agreement to Build Green Low-Carbon Circular Packaging Industrial Park

On September 17, Youlesai Sharing (02649.HK) announced that its wholly-owned subsidiary Angu (Lianyungang) Technology Co., Ltd. entered into a construction agreement with Jiangsu Dingxian Construction Co., Ltd. to provide construction services for the Lianyungang Angu Technology Green Low-Carbon Circular Packaging Industrial Park located in Guannan Economic Development Zone, Jiangsu Province, with a total contract value of approximately 49.857 million yuan.

# Financing and Capital Market Highlights #

1 Yaodouwang Completes Hundreds of Millions of Yuan in Series C Financing Led by Morgan Stanley

Internet pharmaceutical company Yaodouwang has completed hundreds of millions of yuan in Series C financing, led by Morgan Stanley, with existing shareholder Nanxi Venture Capital making additional investments. Through its "platform + self-operated + retail" model, Yaodou has built an end-to-end transaction closed loop for the pharmaceutical industry from drug manufacturers to terminals.

2 Transwarp Technology Finalizes H-Share Offering Price at HK$49 Per Share, Expected to List on HKEX on September 21

On September 17, Transwarp Technology (688031.SH) disclosed an announcement setting the final price of its H-share offering at HK$49 per share, with trading expected to commence on the Hong Kong Stock Exchange on September 21, 2026. Transwarp Technology is applying for listing under Chapter 18C of the HKEX Listing Rules, and will become the first A-share company to list in Hong Kong under Chapter 18C, with Inspur Information and Luoyang Kechuang as cornerstone investors.

3 COSMOPlat Refiles Hong Kong Listing Application, Poised to Become the 9th Listed Company in Haier Ecosystem

COSMOPlat IoT Technology Co., Ltd., a subsidiary of Haier Group, has resubmitted its listing application to the main board of the Hong Kong Stock Exchange, following its initial filing in January 2026. If successfully listed, COSMOPlat will become the ninth publicly listed company under the Haier umbrella. This week, COSMOPlat was also included in the public list of entities for the second batch of MIIT manufacturing digital transformation promotion centers.

4 Dewu Discloses 11th Anniversary Operating Data: Monthly Active Users Reach Hundreds of Millions

On September 16, Dewu founder and CEO Yang Bing released an all-staff letter for the platform’s 11th anniversary, disclosing that the platform serves hundreds of millions of users monthly, with users under 30 accounting for 70%. Against the backdrop of slowing overall consumer market growth, Dewu’s international business and monetization have grown rapidly. Yang set "helping users make optimal decisions" as the company’s long-term goal for the new decade.

# Macroeconomic and Policy Updates #

1 MIIT Releases Public List of Entities for Second Batch of Manufacturing Digital Transformation Promotion Centers

On September 18, MIIT released the public list of entities for the second batch of manufacturing digital transformation promotion centers. Two entities from Shandong Province — COSMOPlat IoT Technology Co., Ltd. and China Mobile Group Shandong Co., Ltd. — were included, and will provide public digital transformation services for industries including light industry, electronic information manufacturing, petrochemicals and machinery.

2 SAMR Guides 7 Provincial Market Regulation Bureaus and 8 Platform Enterprises to Sign Cooperation Agreements for Individual Business Development

On September 17, under the guidance of the State Administration for Market Regulation (SAMR), market regulation bureaus of 7 provinces (autonomous regions and municipalities) including Inner Mongolia, Jiangsu, Zhejiang, Shandong, Guangdong, Chongqing and Sichuan, the "National Individual Business Development Network", and 8 platform enterprises including 1688, Douyin Life Services, Kuaishou, Meituan, Taobao Flash Purchase, Taotian, Xiaohongshu and Alipay jointly signed the Framework Cooperation Agreement on Promoting Individual Business Development to deepen cooperation between market regulation authorities and platform enterprises.

3 Shanxi Provincial Department of Industry and Information Technology Unveils Integration of Informatization and Industrialization Promotion Plan for the 15th Five-Year Plan

On September 14, at a series of press conferences themed "Starting the 15th Five-Year Plan", the Shanxi Provincial Department of Industry and Information Technology introduced that during the 15th Five-Year Plan period, it will systematically advance the integration of informatization and industrialization following the overall approach of "breakthroughs at points, connectivity along lines, integration across areas", accelerate the overall improvement of digital, networked and intelligent levels of manufacturing, and build industrial internet empowerment centers for enterprises in industrial parks.

4 China Resources Recycling Group’s First Bonded Maintenance Project in North China Lands in Tianjin

Recently, Chengeng Group, a subsidiary of Tianbao Holding Company, signed a customized lease agreement with Zhongzihuan Electronic Fushi Technology (Tianjin) Co., Ltd., a subsidiary of China Resources Recycling Group, marking the official landing of China Resources Recycling Group’s first bonded maintenance project in North China at the Intelligent Manufacturing Industrial Park of Haigang Bonded Zone, with a first-phase operating area of approximately 6,000 square meters. On September 18, the first general meeting of SCO Green Alliance members was held in Tianjin, attended by Wen Feng, chairman of SCO Green Alliance and member of the Party Committee and deputy general manager of China Resources Recycling Group.

# Quote of the Week #

1 "Industrial internet is the infrastructure of industrial digitalization, and artificial intelligence adds value and generates efficiency from massive data. Without industrial internet, AI lacks data sources and application scenarios; without AI, data cannot fully unlock its value."

— Li Yizhong, former Minister of Industry and Information Technology, speaking at the 2026 Global Industrial Internet Conference

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2 "AI cannot assume liability."

— Kai-Fu Lee, CEO of 01.AI and Chairman of Sinovation Ventures, speaking at the 26th China International Fair for Investment and Trade

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3 "Compliance is the lifeline of supply chain development, and real-economy foundations are the ballast of supply chain finance. Competition in the future supply chain industry will no longer be about scale, but about compliance capabilities, risk control capabilities, and industrial service capabilities."

— Professor Song Hua of Renmin University of China, summarizing at the 2026 Supply Chain Cooperation and Innovation Conference

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4 "Industrial internet platforms must continue to dig deeper, down to the operating system layer, otherwise they will face real risks."

— Zheng Min, Chairman of Ebrun, during a dialogue with Xue Suwen, Chairman of Nongxin Internet Group

# Weekly Commentary #

This week, the industrial internet sector showed clear core themes: AI implementation and capital inflows. Primary market capital continued to flow to leading platforms with proven profitability. Compliance and green development have become new foundational pillars for industrial platforms.

This article was first published on the official website of Ebrun.