Zhejiang Huayou Cobalt (603799) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 25.80 billion, up 44.62% year-over-year, driven by higher product sales and a rebound in metal prices.

• Net profit attributable to shareholders was RMB 2.50 billion, a 99.45% increase year-over-year.

• Basic EPS rose to RMB 1.33, up 79.73% from the prior year.

Financial highlights

• Operating profit for Q1 2026 was RMB 3.69 billion, up from RMB 1.84 billion in Q1 2025.

• Net cash flow from operating activities was RMB 1.17 billion, up 15.5% year-over-year.

• Total assets at quarter-end were RMB 174.67 billion, a 9.55% increase from year-end 2025.

• Shareholders’ equity rose to RMB 50.51 billion, up 4.58% from year-end 2025.

• Non-recurring profit and loss items contributed RMB 426.91 million to net profit.

Outlook and guidance

• Growth attributed to increased product sales and recovery in nickel, cobalt, and lithium prices, with continued benefits from integrated operations.