Zhejiang Huayou Cobalt (603799) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 15.93% YoY to RMB 25.21bn, while profit before tax fell 50.83% to RMB 1.01bn and parent-attributable net income fell 46.68% to RMB 802.6m.

• 9M revenue increased 37.05% to RMB 80.78bn; parent-attributable net income rose 2.23% to RMB 4.31bn.

Financial highlights

• Q3 adjusted for non-recurring items, parent-attributable net income was RMB 739.2m, down 48.13% YoY; 9M adjusted net income was RMB 4.05bn, up 0.94%.

• 9M profit before tax increased 26.19% to RMB 7.30bn; net income was RMB 6.18bn versus RMB 5.19bn a year earlier.

• Operating cash flow was RMB 3.95bn in 9M, down 5.57% YoY.

Outlook and guidance

• 9M revenue growth was attributed primarily to higher sales volume of new-energy-material products.