On August 26, Jiangxi Special Electric Motor Co. Ltd. released its interim report for the first half of 2026. During the reporting period, the company achieved operating revenue of Yuan 956.8952 million, representing a decrease of Yuan 18.2711 million or 1.87% year-on-year. The decline was primarily attributable to a reduction in the production and sales volume of lithium salt products.
During the reporting period, the company's total profit amounted to a loss of Yuan 240.0745 million, down by Yuan 111.7447 million or 87.08% YoY. Net profit attributable to shareholders of the parent company stood at a loss of Yuan 213.0137 million, a decrease of Yuan 98.8253 million or 86.55% YoY. The deterioration in profitability was mainly due to the fact that the company's lithium ore raw materials were procured externally, and the purchase prices of such externally sourced lithium ore were highly correlated with lithium salt market prices, which resulted in a widening of losses in the company's lithium salt business.
Edited by Cassie Li, lixiangying@mysteel.com
