Yunnan Energy New Material (002812) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥8.67 billion, up 50.47% year-over-year, with net profit attributable to shareholders at ¥820 million, marking a return to profitability from a loss in the prior year.

• Core business, lithium battery separator, contributed 87.88% of total revenue, with segment revenue up 58.09% year-over-year and gross margin improving by 17.99 percentage points.

• The company maintained global leadership in lithium battery separator capacity and market share, with robust growth in both domestic and international markets.

• Significant R&D investment led to new high-safety, high-performance separator products and a 30%+ reduction in product carbon footprint compared to 2023.

Financial highlights

• Operating income: ¥8.67 billion, up 50.47% year-over-year.

• Net profit attributable to shareholders: ¥820 million, compared to a loss of ¥93 million in H1 2025.

• Basic and diluted EPS: ¥0.8352, up from -¥0.1 year-over-year.

• Operating cash flow: ¥1.16 billion, up 452.38% year-over-year.

• Gross margin for lithium battery separators increased by 17.99 percentage points year-over-year.

Outlook and guidance

• The company expects continued demand growth for lithium battery separators, driven by global EV and energy storage markets.

• Ongoing expansion of production capacity and product upgrades are planned to maintain market leadership.

• Focus remains on high-value-added products, global market penetration, and green manufacturing initiatives.