Guangzhou Tinci Materials Technology (002709) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥14.71 billion, up 109.28% year-over-year, with net profit attributable to shareholders at ¥2.86 billion, surging 967.91% year-over-year.

• Lithium-ion battery materials drove growth, with electrolyte sales exceeding 440,000 tons, up 41% year-over-year, and overseas electrolyte sales up 126%.

• Gross margin improved to 33.55%, up 14.86 percentage points year-over-year, mainly due to product mix optimization and cost control.

• The company continued to expand R&D in new battery technologies and enhanced its global supply chain and production capacity.

Financial highlights

• Operating income: ¥14.71 billion (+109.28% YoY); net profit: ¥2.86 billion (+967.91% YoY).

• Basic and diluted EPS: ¥1.41 (+907.14% YoY); ROE: 15.00% (+12.96 percentage points YoY).

• Gross margin: 33.55% (+14.86 percentage points YoY); net margin: 19.45%.

• Operating cash flow: ¥397 million; total assets: ¥32.06 billion (+19.08% from year-end 2025).

• R&D investment: ¥614 million (+39.88% YoY).

Outlook and guidance

• The company expects continued strong demand for lithium battery materials, especially in energy storage and overseas markets.

• Ongoing expansion in battery recycling, sodium-ion, and solid-state battery materials to support future growth.

• Focus on cost control, supply chain integration, and global market penetration.