Jiangsu Zenergy Battery Technologies Group (3677) investor relations material

Executive summary

• Revenue rose 71.4% year-over-year to RMB5,438.4 million for H1 2026, driven by strong growth in both EV and energy storage battery shipments.

• Net profit increased 68.6% year-over-year to RMB371.6 million, with EPS up 66.7% to RMB0.15.

• Gross profit grew 19.6% to RMB680.4 million, though gross margin declined to 12.5% due to higher raw material costs and pricing pressure.

• The company expanded its market share in the domestic EV battery market, rising to fifth in installed capacity for new energy passenger vehicles.

• Energy storage battery business revenue surged 799.1% year-over-year, with new product launches and expanded customer base.

Financial highlights

• Revenue: RMB5,438.4 million (+71.4% YoY).

• Gross profit: RMB680.4 million (+19.6% YoY); gross margin: 12.5% (down from 17.9%).

• Net profit: RMB371.6 million (+68.6% YoY); net profit margin: 6.8%.

• EPS: RMB0.15 (+66.7% YoY).

• Cash and cash equivalents: RMB4,821.8 million as of June 30, 2026.

• Gearing ratio: 68.4% (up from 61.8% at end-2025).

Outlook and guidance

• Plans to further expand EV and ESS battery production capacity, including new lines for large-capacity and sodium-ion batteries.

• Focus on technological innovation, ultra-fast charging, high energy density, and solid-state battery development.

• Continued customer expansion in domestic and overseas markets, targeting new application scenarios such as AIDC, robots, and electric vessels.

• No interim dividend declared for H1 2026.