Exhibit 99.3
Julong Holding Limited Reports Unaudited Financial Results for the First Half of Fiscal Year 2026
BEIJING,
August
First Half of Fiscal Year 2026 Financial Highlights
| ● | Revenues increased by 21.6% to RMB124,293 thousand (US$18,019 thousand) for the six months ended March 31, 2026, from RMB102,175 thousand in the same period of fiscal year 2025. |
| ● | Gross profit increased by 16.4% to RMB19,453 thousand (US$2,820 thousand) for the six months ended March 31, 2026, from RMB16,719 thousand in the same period of fiscal year 2025. |
| ● | Gross margin was 15.7% for the six months ended March 31, 2026, compared with 16.4% in the same period of fiscal year 2025. |
| ● | Net income increased by 0.8% to RMB11,659 thousand (US$1,690 thousand) in the six months ended March 31, 2026, from RMB11,567 thousand in the same period of fiscal year 2025. |
Mr. Jiaqi Hu, the founder, Chairman of the Board of Directors, and Chief Executive Officer of Julong, commented, “We are pleased to report solid results for the first half of fiscal year 2026, despite a challenging external environment. Total revenue increased by 21.6% year over year, reflecting the continued strength of our core engineering solutions business. This growth was primarily driven by an increase in the number of intelligent projects we served, with contracts under execution for our engineering solutions business rising to 322 from 226 in the same period last year. Additionally, we saw encouraging early-stage momentum in our sale of equipment and materials for intelligent systems, which complements our core business. With a rising number of contracts under execution in our domestic engineering solutions business and our continuous efforts to expand our international footprint, we are confident that we will sustain this momentum and capture new opportunities across our markets.”
Ms.
Airu Chen, the Chief Financial Officer of Julong, said, “We delivered a year-over-year revenue increase of 21.6%, reaching RMB124
million in the first half of fiscal year 2026, with revenue from our core engineering solutions for intelligent projects business rising
22.9% year over year. Notably, revenue from the sale of equipment and materials for intelligent systems grew substantially, climbing
to RMB346 thousand from RMB10 thousand in the same period last year. Gross profit increased 16.4% year-over-year to RMB19.5 million and
we remained profitable with net income of
Unaudited Financial Results for the First Half of Fiscal Year 2026
Revenues increased by 21.6% to RMB124,293 thousand (US$18,019 thousand) in the six months ended March 31, 2026, from RMB102,175 thousand in the same period of fiscal year 2025, primarily attributable to an increase in the number of intelligent projects where we provided engineering solutions.
Revenues from engineering solutions for intelligent projects increased by 22.9% to RMB120,265 thousand (US$17,435 thousand) in the six months ended March 31, 2026, from RMB97,861 thousand in the same period of fiscal year 2025.
Revenues from intelligent project operation and maintenance were RMB3,682 thousand (US$534 thousand) in the six months ended March 31, 2026, compared with RMB4,304 thousand in the same period of fiscal year 2025.
Revenues from sales of equipment and materials of intelligent systems increased to RMB346 thousand (US$50 thousand) in the six months ended March 31, 2026, from RMB10 thousand in the same period of fiscal year 2025.
Cost of revenues increased by 22.7% to RMB104,839 thousand (US$15,199 thousand) in the six months ended March 31, 2026, from RMB85,457 thousand in the same period of fiscal year 2025.
Gross profit increased by 16.4% to RMB19,453 thousand (US$2,820 thousand) in the six months ended March 31, 2026, from RMB16,719 thousand in the same period of fiscal year 2025.
Gross margin was 15.7% for the six months ended March 31, 2026, compared with 16.4% in the same period of fiscal year 2025, primarily due to change in revenue mix.
Operating expenses increased by 91.9% to RMB5,960 thousand (US$864 thousand) in the six months ended March 31, 2026, from RMB3,106 thousand in the same period of fiscal year 2025, primarily due to an increase in service fee for RMB2,061 thousand (US$299 thousand).
Operating income was RMB13,494 thousand (US$1,956 thousand) in the six months ended March 31, 2026, compared with RMB13,613 thousand in the same period of fiscal year 2025.
Net income increased by 0.8% to RMB11,659 thousand (US$1,690 thousand) in the six months ended March 31, 2026, from RMB11,567 thousand in the same period of fiscal year 2025.
Basic
and diluted net income per share was
Balance Sheets
As of March 31, 2026, the Company had cash and cash equivalents and restricted cash of RMB43,217 thousand (US$6,265 thousand), compared with RMB62,248 thousand as of September 30, 2025.
About Julong Holding Limited
Founded in 1997, Julong is a growth-oriented professional provider of intelligent integrated solutions to public utilities, commercial properties, and multifamily residential properties operating at scale in China. The Company’s comprehensive suite of intelligent integrated solutions includes systems for intelligent security, fire protection, parking, toll collection, broadcasting, identification, data room, emergency command, and city management. Since its inception, Julong has focused on the successful and on-time execution of complex projects, through its “deliveries before deadline” and “customers first” initiatives. As Julong continues to cross-sell its service and solution offerings and advance its purpose-built technologies, the Company is well-positioned to achieve economies of scale and capture future opportunities.
For more information, please visit: ir.julongzx.com.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements relating to the Company’s future operating and financial performance, business strategies, and growth plans. These forward-looking statements can be identified by terminology such as “will,” “would,” “may,” “expects,” “anticipates,” “aims,” “future,” “continues,” “could,” “should,” “target,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar expressions. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions, competition, and other factors discussed in the “Risk Factors” section of the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Investor Relations:
Email: ir@julongzx.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: julong@thepiacentegroup.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: julong@thepiacentegroup.com
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
As of September 30, 2025 | As of March 31, 2026 | As of March 31, 2026 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| ASSETS | ||||||||||||
| Current assets | ||||||||||||
| Cash and cash equivalents | 62,247,145 | 43,216,643 | 6,265,098 | |||||||||
| Restricted cash | 600 | 600 | 87 | |||||||||
| Accounts receivable (net of allowance of RMB91,886 and RMB56,070 as of September 30,2025 and March 31, 2026, respectively) | 14,723,857 | 8,130,297 | 1,178,646 | |||||||||
| Other receivable (net of allowance of RMB64,103 and RMB164,106 as of September 30, 2025 and March 31, 2026, respectively) | 801,734 | 24,234,001 | 3,513,192 | |||||||||
| Amounts due from related parties | 3,486,135 | 1,105,933 | 160,327 | |||||||||
| Prepaid expenses and other current assets | 1,966,812 | 4,212,170 | 610,635 | |||||||||
| Total current assets | 327,759,195 | 386,291,559 | 56,000,515 | |||||||||
| Non-current assets | ||||||||||||
| Property, plant and equipment, net | 83,125 | 161,404 | 23,399 | |||||||||
| Deferred tax assets | 1,044,349 | 1,240,584 | 179,847 | |||||||||
| Operating lease right-of-use assets | 280,398 | 229,471 | 33,266 | |||||||||
| 10,955,098 | 10,995,921 | 1,594,074 | ||||||||||
| Total non-current assets | 12,362,970 | 12,627,380 | 1,830,586 | |||||||||
| TOTAL ASSETS | 340,122,165 | 398,918,939 | 57,831,101 | |||||||||
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
As of September 30, 2025 | As of March 31, 2026 | As of March 31, 2026 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| LIABILITIES | ||||||||||||
| Current liabilities | ||||||||||||
| Short-term borrowing | 10,000,000 | 10,000,000 | 1,449,696 | |||||||||
| Accounts payable | 21,797,667 | 15,767,146 | 2,285,756 | |||||||||
| Contract liabilities | 844,757 | 1,691,990 | 245,287 | |||||||||
| Accrued expenses and other current liabilities | 221,848,274 | 275,039,372 | 39,872,336 | |||||||||
| Amounts due to related parties | 5,244,067 | 3,443,940 | 499,266 | |||||||||
| Income tax payable | 10,312,947 | 12,398,896 | 1,797,462 | |||||||||
| Operating lease liabilities, current portion | 99,065 | 100,540 | 14,575 | |||||||||
| Total current liabilities | 270,146,777 | 318,441,884 | 46,164,378 | |||||||||
| Non-current liabilities: | ||||||||||||
| Operating lease liabilities, non-current | 164,896 | 114,254 | 16,563 | |||||||||
| Total non-current liabilities | 164,896 | 114,254 | 16,563 | |||||||||
| TOTAL LIABILITIES | 270,311,673 | 318,556,138 | 46,180,941 | |||||||||
| SHAREHOLDERS’ EQUITY | ||||||||||||
| Stock Subscription Receivable | (14,246 | ) | (14,246 | ) | (2,065 | ) | ||||||
| Ordinary shares subscribed (US$0.0001 par value, 500,000,000 shares authorized as of September 30, 2025 and March 31, 2026; 21,448,632 shares issued and outstanding as of September 30, 2025 and March 31, 2026) (1) | 15,269 | 15,269 | 2,214 | |||||||||
| Additional paid in capital | 26,281,420 | 26,281,420 | 3,810,006 | |||||||||
| Statutory reserve | 5,883,035 | 7,048,957 | 1,021,884 | |||||||||
| Retained earnings | 37,645,105 | 48,138,412 | 6,978,604 | |||||||||
| Accumulated other comprehensive loss | (91 | ) | (1,107,011 | ) | (160,483 | ) | ||||||
| TOTAL SHAREHOLDERS’ EQUITY | 69,810,492 | 80,362,801 | 11,650,160 | |||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 340,122,165 | 398,918,939 | 57,831,101 | |||||||||
| (1) | Giving retroactive effect to Reorganization transactions. |
JULONG HOLDING LIMITED
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME
| Six Months Ended March 31, | ||||||||||||
| 2025 | 2026 | 2026 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| Revenues (including revenues from related parties of RMB42,257,767 and RMB63,792,598 for the six months ended March 31, 2025 and 2026, respectively) | 102,175,246 | 124,292,811 | 18,018,674 | |||||||||
| Cost of revenues | 85,456,746 | 104,839,391 | 15,198,520 | |||||||||
| Gross profit | 16,718,500 | 19,453,420 | 2,820,154 | |||||||||
| Operating expenses: | ||||||||||||
| Selling, general and administrative expenses | 3,105,980 | 5,959,721 | 863,978 | |||||||||
| Total operating expenses | 3,105,980 | 5,959,721 | 863,978 | |||||||||
| Operating income | 13,612,520 | 13,493,699 | 1,956,176 | |||||||||
| Interest | (936 | ) | (148,839 | ) | (21,577 | ) | ||||||
| Other income, net | 263 | 324,664 | 47,066 | |||||||||
| Income before income taxes | 13,611,847 | 13,669,524 | 1,981,665 | |||||||||
| Income tax expenses | 2,045,183 | 2,010,295 | 291,432 | |||||||||
| Net income | 11,566,664 | 11,659,229 | 1,690,233 | |||||||||
| Other comprehensive loss, net of tax of nil: | - | (1,107,011 | ) | (160,483 | ) | |||||||
| Comprehensive income | 11,566,664 | 10,552,218 | 1,529,750 | |||||||||
| Net income per share-basic and diluted | ||||||||||||
| Weighted average number of ordinary shares outstanding-basic and diluted | 20,011,132 | 21,448,632 | 21,448,632 | |||||||||
| Basic and diluted net income per share | 0.58 | 0.08 | ||||||||||
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
| Ordinary shares | Stock Subscription Receivable | Additional paid-in capital | Statutory reserve | Accumulated other comprehensive income | (Accumulated deficit)/Retained earnings | Total Julong Holding Limited shareholders’ equity | Non-controlling interest | Total equity | ||||||||||||||||||||||||||||||||
| Number | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | RMB | |||||||||||||||||||||||||||||||
| Balance as of September 30, 2024 | 20,011,132 | 14,043 | (14,043 | ) | - | 3,267,815 | - | 14,108,126 | 17,375,941 | - | 17,375,941 | |||||||||||||||||||||||||||||
| Net income for the year | - | - | - | - | - | - | 11,566,664 | 11,566,664 | - | 11,566,664 | ||||||||||||||||||||||||||||||
| Provision of statutory reserve | - | - | - | - | 1,156,666 | - | (1,156,666 | ) | - | - | - | |||||||||||||||||||||||||||||
| Foreign currency translation adjustment | - | 478 | (478 | ) | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||
| Balance as of March 31, 2025 | 20,011,132 | 14,521 | (14,521 | ) | - | 4,424,481 | - | 24,518,124 | 28,942,605 | - | 28,942,605 | |||||||||||||||||||||||||||||
Balance as of September 30, 2025 | 21,448,632 | 15,269 | (14,246 | ) | 26,281,420 | 5,883,035 | (91 | ) | 37,645,105 | 69,810,492 | - | 69,810,492 | ||||||||||||||||||||||||||||
| Net income for the year | - | - | - | - | - | - | 11,659,229 | 11,659,229 | - | 11,659,229 | ||||||||||||||||||||||||||||||
| Provision of statutory reserve | - | - | - | - | 1,165,922 | - | (1,165,922 | ) | - | - | - | |||||||||||||||||||||||||||||
| Foreign currency translation adjustment | - | - | - | - | - | (1,106,920 | ) | - | (1,106,920 | ) | - | (1,106,920 | ) | |||||||||||||||||||||||||||
| Balance as of March 31, 2026 | 21,448,632 | 15,269 | (14,246 | ) | 26,281,420 | 7,048,957 | (1,107,011 | ) | 48,138,412 | 80,362,801 | - | 80,362,801 | ||||||||||||||||||||||||||||
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Six Months Ended March 31, | ||||||||||||
| 2025 | 2026 | 2026 | ||||||||||
| RMB | RMB | US$ | ||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||
| Net income | 11,566,664 | 11,659,229 | 1,690,233 | |||||||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||
| Depreciation of property, plant and equipment | 7,117 | 10,830 | 1,570 | |||||||||
| Amortization of the right-of-use assets | 95,003 | 50,928 | 7,383 | |||||||||
| Provision of allowance for doubtful accounts | 94,292 | 6,420,154 | 930,727 | |||||||||
| Provision of allowance for | 311,983 | 1,189,455 | 172,435 | |||||||||
| Changes in operating assets and liabilities | ||||||||||||
| Accounts receivable | (4,473,997 | ) | 3,451,393 | 500,347 | ||||||||
| Unbilled | ) | ) | ) | |||||||||
| Other receivable | (80,510 | ) | (23,532,270 | ) | (3,411,463 | ) | ||||||
| Prepaid expenses and other current assets | (759,161 | ) | (2,245,360 | ) | (325,509 | ) | ||||||
| Amount due from related parties | 699,026 | 2,380,202 | 345,057 | |||||||||
| Deferred tax assets | (62,182 | ) | (196,235 | ) | (28,448 | ) | ||||||
| Non-current assets | 476,681 | (40,823 | ) | (5,918 | ) | |||||||
| Accounts payable | (4,720,741 | ) | (7,985,422 | ) | (1,157,643 | ) | ||||||
| Accrued expenses and other current liabilities | 16,811,087 | 46,683,831 | 6,767,734 | |||||||||
| Income tax payable | 1,875,544 | 2,085,949 | 302,399 | |||||||||
| Contract liabilities | 2,081,323 | 847,233 | 122,823 | |||||||||
| Amount due to related parties | (13,836,127 | ) | (1,800,127 | ) | (260,964 | ) | ||||||
| Lease liabilities | (95,003 | ) | (49,166 | ) | (7,128 | ) | ||||||
| Other Current liabilities | 2,638,092 | 5,284,184 | 766,047 | |||||||||
| Net cash | (8,236,979 | ) | (17,834,473 | ) | (2,585,455 | ) | ||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||
| Purchase of property, plant and equipment | - | (89,109 | ) | (12,918 | ) | |||||||
| Net cash used in investing activities | - | (89,109 | ) | (12,918 | ) | |||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||
| Proceed from short-term borrowing | 10,000,000 | 1,449,696 | ||||||||||
| Proceed from (repayment of) short-term borrowing | 10,000,000 | (10,000,000 | ) | (1,449,696 | ) | |||||||
| Payment of deferred offering costs | (1,169,139 | ) | - | - | ||||||||
| Net cash provided by financing activities | 8,830,861 | - | - | |||||||||
| Exchange rate effect on cash and cash equivalents | - | (1,106,920 | ) | (160,470 | ) | |||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 593,882 | (19,030,502 | ) | (2,758,843 | ) | |||||||
| Cash, cash equivalents and restricted cash at beginning of the period | 20,772,130 | 62,247,745 | 9,024,028 | |||||||||
| Cash, cash equivalents and restricted cash at end of the period | 21,366,012 | 43,217,243 | 6,265,185 | |||||||||