Xinte Energy (1799) H1 2026 earnings summary

Executive summary

• Operating revenue for H1 2026 was RMB10,153.29 million, up 38.88% year-over-year, mainly due to higher polysilicon sales volume.

• Net loss attributable to shareholders narrowed to RMB211.89 million from RMB256.29 million in H1 2025.

• Gross profit margin improved to 13.13% from 9.14% year-over-year, driven by resumed polysilicon production and higher selling prices.

• No interim dividend declared for H1 2026.

Financial highlights

• Polysilicon segment revenue surged 297.27% year-over-year to RMB3,888.21 million; construction of wind/PV plants up 1.69% to RMB3,396.91 million; electrical equipment up 8.87% to RMB1,593.64 million.

• Net cash inflow from operating activities was RMB84.27 million, reversing a net outflow of RMB856.53 million in H1 2025.

• Cash and cash equivalents at period end were RMB10,121.74 million, up from RMB6,005.24 million at 2025 year-end.

• Gearing ratio improved to 37.87% from 40.96% at 2025 year-end.

• Operating costs increased 32.78% to RMB8,819.68 million, mainly due to higher polysilicon sales.

Outlook and guidance

• China’s installed wind and solar capacity expected to exceed 2.7 billion kW by 2030, over 50% of total capacity.

• PV power generation projected to become the largest global renewable energy source by 2029.

• The company will focus on quality, cost optimization, innovation, and digital transformation in H2 2026.

• Plans include expanding domestic and international markets, enhancing R&D, and strengthening safety and talent development.