Ningxia Baofeng Energy Group (600989) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 30.20 billion, up 32.33% year-over-year, with net profit attributable to shareholders at RMB 9.73 billion, up 70.14%.

• Coal-to-olefin and polyolefin production volumes increased significantly, leveraging cost and scale advantages amid global chemical price surges.

• Major projects, including the Inner Mongolia olefin project, contributed to higher output and sales.

• The company maintained stable operations, enhanced risk controls, and advanced key construction projects.

Financial highlights

• Operating income: RMB 30.20 billion, up 32.33% year-over-year.

• Net profit attributable to shareholders: RMB 9.73 billion, up 70.14% year-over-year.

• Operating cash flow: RMB 11.96 billion, up 49.74% year-over-year.

• Basic and diluted EPS: RMB 1.33, up 70.51% year-over-year.

• Gross margin improved due to higher product prices and volume.

Outlook and guidance

• The company plans to continue leveraging its cost and scale advantages, focus on risk management, and advance major projects.

• Ongoing expansion in coal-to-olefin capacity and product innovation expected to support future growth.