Canmax Technologies (300390) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was ¥3.46 billion, down 6.88% year-over-year; net loss attributable to shareholders was ¥156 million, a sharp decline from ¥835 million profit in H1 2024, mainly due to industry headwinds and increased costs.

• Core businesses include lithium battery materials, anti-static clean technology, and medical devices, with continued R&D in solid-state battery materials and ion exchange membranes.

• The company deepened digital transformation, enhanced ESG practices, and expanded global lithium resource layout.

Financial highlights

• Operating income: ¥3.46 billion, down 6.88% year-over-year.

• Net loss attributable to shareholders: ¥156 million, compared to ¥835 million profit last year.

• Operating cash flow: ¥197 million, down 72.04% year-over-year.

• Gross margin for lithium materials: 2.49%, down 15.42 percentage points year-over-year.

• Total assets: ¥19.75 billion, up 12.57% from year-end 2024.

• Net assets attributable to shareholders: ¥10.70 billion, down 5.71% from year-end 2024.

• Non-recurring gains: ¥44.67 million, mainly from government subsidies and financial asset disposal.

Outlook and guidance

• The company will continue to focus on high-quality growth, cost reduction, and efficiency improvement.

• Plans to deepen strategic cooperation with key customers and expand market share.

• No interim dividend, bonus shares, or capital increase from reserves planned for H1 2025.