On April 23, Canmax announced that for the first quarter of 2026, the company achieved operating revenue of Yuan 3.200 billion, representing a year-on-year increase of 89.62%. The adjusted net profit attributable to shareholders of the listed company was Yuan 969 million, a year-on-year increase of 1,471.98%. The performance change was primarily attributable to a simultaneous increase in both volume and price of lithium battery products, which led to an expansion in sales scale.
Note: The company's Q1 net profit was Yuan 969 million, compared to Yuan 369 million in Q4 2025. Based on this, Q1 net profit increased by 162% quarter-on-quarter.
The announcement further disclosed that Canmax acquired a 75% equity stake in Suzhou CATH Energy Technologies Co., Ltd., an entity under common control, in October 2025. In accordance with accounting standards, the comparable period from the previous year has been adjusted. As illustrated in the accompanying chart, Canmax's unadjusted net profit attributable to shareholders of the listed company for the first quarter of 2026 stood at Yuan 969 million, representing an increase of 29,632.29%, compared to the same period last year.
Edited by Cassie Li, lixiangying@mysteel.com
