Recent Updates — LUD
Luda Technology Group reported unaudited results for the six months ended June 30, 2026, with revenue declining 30.8% to $11.8 million from $17.1 million in the prior year period. Gross profit increased 55.3% to $2.2 million as margins improved to 18.9%, but a $3.1 million unrealized fair value loss on listed equity investments drove a net loss of $3.6 million, compared to a $0.4 million loss in the prior year period. Excluding non-cash investment adjustments, adjusted net loss narrowed to $531,000 from $1.1 million. The company manufactures and trades stainless steel and carbon steel flanges and fittings.
Luda Technology Group Limited executed a share purchase agreement to acquire a 55% controlling interest in Asia AI Data Centre & Quantum Technology Company Limited. The total consideration is US$935,000, comprised of US$600,000 in cash and the issuance of 91,780 ordinary shares valued at US$3.65 per share. This transaction marks Luda's entry into computing infrastructure operations management. Additionally, the company signed a non-binding memorandum of understanding with Huazhi Future to explore strategic opportunities in AI infrastructure, including liquid cooling technology and overseas computing power export. Luda Technology Group Limited is a manufacturer and trader of stainless steel and carbon steel flanges and fittings products.
Luda Technology Group Limited entered into agreements with two Chinese customers to supply an aggregate of 440,000 metric tons of thermal coal over one year. The contracts require delivery of 20,000 metric tons per customer by November 30, 2026, and the remaining 200,000 metric tons per customer through October 14, 2027. Luda has also secured a supply agreement with a Mongolian entity to source coal from Tsogttsetsii, South Gobi Province. The agreements do not fix unit prices or total contract values; pricing is subject to market conditions and confirmation for each batch. This move marks the company's expansion into commodity trading as it seeks to diversify revenue streams beyond its core manufacturing operations. Luda Technology Group Limited is a manufacturer and trader of stainless steel and carbon steel flanges and fittings products.
Luda Technology Group Limited signed a non-binding memorandum of understanding with Chuluut-International LLC to evaluate the proposed acquisition of 100% of the legally transferable mining rights and related interests in the Jonsh Tolgoi fluorspar project in Mongolia. The indicative consideration is US$14.0 million, expected to be paid in cash, with a target closing date on or before April 30, 2027. This transaction aims to expand the company beyond its established metals manufacturing business into advanced industrial and technology supply chains. Luda Technology Group Limited is a manufacturer and trader of stainless steel and carbon steel flanges and fittings products.
The Board of Directors accepted the immediate resignation of Chief Financial Officer Yung Chi Man for personal reasons, confirming no disagreements with the Company. The Board simultaneously appointed Ms. Liu Liangping as the new Chief Financial Officer, effective immediately. Ms. Liu previously served as the Company's Chief Operating Officer and Director until her respective resignations in June and October 2026. She is the spouse of director Ma Biu and has been with a subsidiary since April 2007. Luda Technology Group Limited operates in the technology sector.