Xinte Energy (1799) H1 2026 earnings summary

Executive summary

• Operating revenue for the six months ended 30 June 2026 rose 38.88% year-over-year to RMB10,153.29 million, driven mainly by increased polysilicon sales volume.

• Net loss attributable to shareholders narrowed to RMB211.89 million from RMB256.29 million in the prior year period.

• Gross profit nearly doubled to RMB1,333.61 million, with gross margin improving to 13.13% from 9.14% year-over-year.

• No interim dividend was declared for the period.

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.

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

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

• Cash and cash equivalents rose to RMB10,121.74 million as of 30 June 2026.

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

Outlook and guidance

• The company expects continued growth in renewable energy installations, with wind and solar projected to exceed 50% of China's total installed capacity by 2030.

• Plans include further cost optimization, quality improvement, and digital transformation in polysilicon and equipment manufacturing.

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