Shenzhen Kedali Industry (002850) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥9.21 billion, up 38.58% year-over-year; net profit attributable to shareholders was ¥943 million, up 22.57% year-over-year.

• Gross margin for lithium battery structural parts was 20.86%, with the segment accounting for 98.13% of total revenue.

• R&D investment increased 57.97% year-over-year to ¥560 million, with 850 patents held at period end.

• Cash flow from operations declined 41.50% year-over-year to ¥838 million.

• The company continued global expansion, with 17 production bases and new investments in Thailand and Sichuan.

Financial highlights

• Operating income: ¥9.21 billion, up 38.58% year-over-year.

• Net profit attributable to shareholders: ¥943 million, up 22.57% year-over-year.

• Basic and diluted EPS: ¥3.41, up 21.35% year-over-year.

• Total assets: ¥24.71 billion, up 7.29% from year-end 2025.

• Net assets attributable to shareholders: ¥15.12 billion, up 13.05% from year-end 2025.

• Cash and cash equivalents at period end: ¥1.02 billion.

Outlook and guidance

• The company expects continued growth in lithium battery and energy storage demand, with ongoing capacity expansion projects in Jiangsu and Sichuan.

• Focus remains on R&D, digitalization, and ESG governance to support long-term competitiveness.