Jiangxi Special Electric Motor (002176) Q3 2026 earnings summary

Executive summary

• YTD revenue rose 1.76% YoY to ¥1.457bn, while attributable net loss widened to ¥287.95m; outsourced lithium ore costs pressured lithium-salt profitability.

• YTD operating cash flow turned positive at ¥45.70m from an outflow of ¥338.19m in the prior-year period.

Financial highlights

• Q3 revenue was ¥500.48m, up 9.52% YoY; attributable net loss was ¥74.94m, versus a much smaller loss in the prior-year quarter.

• YTD total profit was a loss of ¥321.84m; attributable net loss was ¥287.95m, down 155.02% YoY.

• YTD adjusted net loss, excluding non-recurring items, was ¥149.12m; the loss narrowed 34.65% YoY.

• YTD non-recurring items included a ¥155.93m debt-restructuring loss; total non-recurring losses were ¥138.83m after other items and tax effects.

Segment performance

• Lithium-salt sales average prices increased, supporting revenue growth; however, externally purchased lithium ore costs tracked lithium-salt market prices and drove greater losses in the lithium-salt business.