Jiangsu Yangnong Chemical (600486) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 6.61 billion, up 5.97% year-over-year, with net profit attributable to shareholders at RMB 789.84 million, down 1.99% year-over-year.

• Operating environment was challenging due to global economic slowdown, geopolitical tensions, rising costs, and weak end-market demand.

• The company focused on market expansion, production efficiency, R&D innovation, engineering projects, HSE, and management reforms.

Financial highlights

• Operating income: RMB 6.61 billion (+5.97% YoY); net profit: RMB 789.84 million (-1.99% YoY).

• Operating cash flow: RMB 1.44 billion (-16.69% YoY); basic EPS: RMB 1.955 (-2.06% YoY).

• Gross margin and profitability pressured by higher costs and weak pricing.

• R&D expenses increased 13.16% YoY to RMB 189.14 million.

• Proposed interim dividend: RMB 2.40 per 10 shares (total RMB 96.99 million, 12.28% payout ratio).

Outlook and guidance

• Industry faces continued headwinds from global economic uncertainty, trade protectionism, and volatile raw material prices.

• Structural opportunities remain due to food security policies, green transformation, and technological innovation.

• Company aims to leverage brand, R&D, and operational strengths for long-term growth.