Beijing Easpring Material Technology (300073) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥10.48 billion, up 136.33% year-over-year, driven by strong lithium battery cathode material sales and higher product prices linked to raw material market trends.

• Net profit attributable to shareholders was ¥520 million, up 67.25% year-over-year; adjusted net profit (excluding non-recurring items) was ¥463 million, up 84.36%.

• The company continued to expand production capacity, advanced key projects in Europe and China, and secured major international and domestic clients.

• R&D investment nearly doubled, focusing on next-generation battery materials and solid-state technologies.

Financial highlights

• Operating income: ¥10.48 billion (up 136.33% YoY).

• Net profit attributable to shareholders: ¥520 million (up 67.25% YoY).

• Adjusted net profit: ¥463 million (up 84.36% YoY).

• Basic and diluted EPS: ¥0.9561 (up 55.64% YoY).

• Gross margin for main products: multi-component materials 12.66%, cobalt oxide 24.17%, phosphate (manganese) iron lithium and sodium cathode 12.11%.

• R&D expenses: ¥439.8 million (up 96.89% YoY).

• Net cash from operating activities: ¥85.95 million (down 77.97% YoY).

Outlook and guidance

• The company will continue to focus on high-nickel, ultra-high-nickel, and phosphate-based cathode materials, aiming to strengthen its position in high-end EV and energy storage markets.

• Ongoing expansion of production capacity in Europe and China to meet global demand.

• Continued investment in R&D for next-generation battery materials, including solid-state, sodium-ion, and high-manganese products.