Anchun International Holdings (BTX) H1 2026 earnings summary

Executive summary

• H1 2026 revenue fell 44% YoY to RMB40.3m; gross profit declined 43% to RMB9.5m, with gross margin stable at 24%. Net loss attributable to owners was RMB2.6m vs net profit of RMB4.7m in H1 2025.

• Lower revenue across all three segments reflected cautious customer commitments amid global political instability and market uncertainty.

Financial highlights

• Revenue was RMB40.263m vs RMB71.595m YoY; cost of sales was RMB30.728m vs RMB54.793m, and gross profit was RMB9.535m vs RMB16.802m.

• Finance and other income decreased 15% to RMB2.731m; marketing and distribution expenses rose 24% to RMB3.811m, while administrative expenses were nearly unchanged at RMB9.377m.

• Research expenses increased 11% to RMB2.403m, mainly for CSC waste-heat boiler tube-bundle improvement works.

Outlook and guidance

• Unsatisfied or partially unsatisfied performance obligations totaled RMB144.836m at 30 June 2026; RMB62.976m is expected to be recognised as revenue in FY2026 and RMB81.860m in FY2027.

• Order book was RMB144.8m at 30 June 2026, including RMB136.8m from non-fertiliser sectors; the strategy remains focused on diversification, cost discipline and R&D.

• Green ammonia, green methanol and green hydrogen demand is gaining momentum; engineering, equipment, catalyst and technology capabilities are positioned to support growth.