Hebei Haiwei Electronic New Material Technology (9609) H1 2026 earnings summary

Executive summary

• H1 2026 revenue fell 10.9% YoY to RMB163.536m as domestic competition pressured selling prices; gross profit declined 34.3% to RMB42.057m.

• Profit for the period fell to RMB4.375m from RMB35.702m, weighed by RMB13.874m in net other losses, largely foreign-exchange losses, and higher post-listing administrative costs.

• Certain core-product selling prices showed signs of recovery from May 2026; opportunities include new energy, AI and data-center applications.

Financial highlights

• Revenue was RMB163.536m, down 10.9% YoY; cost of sales rose 1.6% to RMB121.479m, and gross profit fell 34.3% to RMB42.057m.

• Gross margin declined to 25.7% from 34.9%; lower average selling prices outweighed slightly higher core capacitor-film sales volume and lower base-film unit costs.

• Profit before tax was RMB4.755m, versus RMB41.802m; profit for the period was RMB4.375m, versus RMB35.702m.

• Profit attributable to owners was RMB5.420m, versus RMB36.864m; basic and diluted EPS were RMB0.03, versus RMB0.30.

• Raw-material costs rose 4.6% to RMB101.362m, or 62.0% of revenue; administrative expenses increased to RMB18.106m from RMB7.505m, mainly due to post-listing compliance costs.

Outlook and guidance

• Strategy targets high-end products, including ultra-thin capacitor base films below 2.5 microns, composite copper-foil base-film applications and domestic substitutes for imported electrical-grade polypropylene.

• Certain core-product average selling prices showed recovery signs from May 2026.

• Southern China Facility construction timing depends on business needs, financial position, policy and financing support, market demand and construction progress.

• AI computing-power leasing remains under preliminary assessment, with no implementation actions, agreements or capital commitments; any decision depends on commercial viability and other conditions.