On the evening of August 19, Hunan Yuneng New Energy Battery Material released its semi-annual report for the first half of 2026. During the period, the company achieved total operating revenue of Yuan 34.877 billion, representing a year-over-year increase of 142.92%. Net profit attributable to shareholders of the listed company reached Yuan 2.91 billion, up 853.51% year-over-year.
Of this total, the company's phosphate-based cathode materials business generated operating revenue of Yuan 34.271 billion, with a gross margin of 14.81%, an increase of 7.84 percentage points compared to the same period last year.
The company attributed the revenue growth to a year-over-year increase in phosphate-based cathode material sales volumes during the first half of 2026, coupled with rising prices of key raw materials such as lithium carbonate, which drove up selling prices and consequently lifted operating revenue.
In H1 2026, the company's phosphate-based cathode material sales volume reached 667,200 tonnes. Of this total, sales of its premium-grade products amounted to approximately 416,700 tonnes, accounting for 62.46% of total sales, a continued rise in share. Meanwhile, the proportion of products applied in the energy storage sector increased to approximately 53% of total sales.
Edited by Cassie Li, lixiangying@mysteel.com
