Keda Industrial Group (600499) Q2 2026 earnings summary

Executive summary

• Achieved strong growth in H1 2026, with revenue up 26.92% year-over-year to RMB 10.39 billion and net profit attributable to shareholders up 72.39% to RMB 1.28 billion, driven by international expansion and robust performance in building materials and lithium salt investments.

• Over 65% of revenue generated from operations outside China, reflecting successful globalization strategy.

• Key operational priorities included expanding global manufacturing/service networks, capacity development, product diversification, and ramp-up of new anode material production.

Financial highlights

• Operating revenue: RMB 10.39 billion, up 26.92% year-over-year.

• Net profit attributable to shareholders: RMB 1.28 billion, up 72.39% year-over-year.

• Net cash flows from operating activities: RMB 1.37 billion, up 106.98% year-over-year.

• Basic and diluted EPS: RMB 0.673, up 67.83% year-over-year.

• Gross margin in building materials segment: 43.88%, up 7.08 percentage points year-over-year.

• Net assets attributable to shareholders: RMB 13.25 billion, up 5.25% from year-end 2025.

Outlook and guidance

• Plans to continue expanding premium and mid-to-high-end brands, strengthen customer service, and consolidate leadership in Africa's building materials market.

• Ongoing capacity expansion projects in Africa and South America, with new facilities expected to be commissioned between 2026 and 2027.

• Focus on sustainable profitability through product innovation, cost control, and digital transformation.