Qinghai Salt Lake Industry (000792) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥13.05 billion, up 79.88% year-over-year, with net profit attributable to shareholders at ¥6.17 billion, up 137.88% year-over-year.

• Major drivers include strong performance in both potash and lithium segments, with significant capacity expansion and successful integration of acquired assets.

• The company completed the acquisition of a 51% stake in Wukuang Salt Lake, boosting lithium salt capacity to 98,000 tons/year.

• Potash and lithium markets remained robust, with high demand and favorable pricing supporting profitability.

Financial highlights

• Operating income: ¥13.05 billion, up 79.88% year-over-year.

• Net profit attributable to shareholders: ¥6.17 billion, up 137.88% year-over-year.

• Basic and diluted EPS: ¥1.1657, up 137.85% year-over-year.

• Total assets: ¥61.57 billion, up 0.66% from year-end 2025.

• Net assets attributable to shareholders: ¥47.75 billion, up 3.19% from year-end 2025.

• Operating cash flow: ¥6.28 billion, up 1.38% year-over-year.

• Non-recurring gains: ¥167.99 million, mainly from government grants and fair value changes.

Outlook and guidance

• The company expects continued strong demand for potash and lithium, supported by global agricultural and new energy trends.

• Ongoing capacity expansion and technology upgrades are expected to further enhance cost competitiveness and market share.

• Policy support for new energy vehicles and energy storage is anticipated to drive lithium demand.