Chuangxin Industries Holdings (2788) H1 2026 earnings summary

Executive summary

• H1 2026 revenue rose 32.4% to RMB11,533.0m and profit attributable to owners rose 166.1% to RMB2,304.5m, supported by higher aluminum prices, lower production costs and reduced financing costs.

• Integrated energy, alumina and smelting operations support cost control; expansion priorities include renewable power, upstream resource security, digital transformation and the Saudi Project.

Financial highlights

• Gross profit was RMB3,999.7m versus RMB1,721.9m; gross margin rose to 34.7% from 19.8%.

• Profit before tax was RMB3,550.8m versus RMB1,179.4m; period profit was RMB2,320.1m versus RMB971.2m, and owner-attributable profit was RMB2,304.5m versus RMB865.9m.

• Basic EPS was RMB1.11 versus RMB0.58; net profit margin was 20.1% versus 11.2%.

• Operating cash flow was RMB2,690.0m; cash and equivalents fell to RMB2,163.9m from RMB5,091.1m at Dec. 31, 2025.

Outlook and guidance

• The 500.0 ktpa Saudi Project remains on schedule, with construction milestones achieved and production expected to begin in 2027.

• Wind and solar projects are expected to be completed by end-2026 and fully connected and operational in 2027; green-electricity use is expected to exceed 50%.

• H2 priorities include green development, global expansion, digital transformation, supply-chain integration and stronger ESG governance; no earnings guidance was stated.