CNGR H1 Revenue RMB 33.58 Billion, Net Profit Up 77.8%, Plans Dividend RMB 3.8 per 10 Shares

CNGR Advanced Material released its 2026 half-year report on the evening of August 24. During the reporting period, the company achieved operating revenue of RMB 33.584 billion, up 57.51% year on year; net profit attributable to shareholders of the listed company was RMB 1.303 billion, up 77.8% year on year; net profit excluding non-recurring items was RMB 1.255 billion, up 92.07% year on year; basic earnings per share were RMB 1.23. The company plans to distribute a cash dividend of RMB 3.8 (pre-tax) per 10 shares. In the first half, combined sales of its core products, including nickel-based, cobalt-based, phosphorus-based and sodium-based materials, exceeded 250,000 tonnes.

By business segment, for nickel-based products, the company's domestic market share of ternary precursors reached 26%, the Indonesia base's nearly 200,000-tonne smelting capacity was fully released, and the self-supply ratio of nickel resources rose to 45%. For cobalt-based products, the full range of high-voltage technology route products was launched, and precursors ranked first globally in sales for the sixth consecutive year. For phosphorus-based products, external sales of iron phosphate ranked first in the market, the segment turned profitable, the Kaiyang 98.44 million-tonne phosphate rock project commenced, and capacity utilisation reached 95.89%. For sodium-based products, the dual technology route of 'polyanion plus layered oxide' achieved mass production, with shipments exceeding the 2,000-tonne level.

In terms of cost and profitability indicators, the company's gross sales margin in the first half was 13.32%, up 1.22 percentage points year on year; the selling expense ratio was 6.55%, down 1.14 percentage points from 2025. On R&D, first-half R&D expenditure was RMB 589 million, up 8.1% year on year, and R&D personnel accounted for 10.65% of total staff. Solid-state battery precursors achieved hundred-tonne-level shipments, with supporting cell energy density exceeding 350 Wh/kg, and have entered the certification system of mainstream battery manufacturers; eVTOL-specific high-nickel precursors can sustain continuous output of 10 to 15C; low-cost polyanion sodium battery precursors have achieved mass production. The first 225 mAh/g high-nickel ternary material product completed customer certification, 4.55V high-voltage cobalt tetroxide achieved mass production, and fourth-generation ultra-high-compaction lithium iron phosphate entered the trial production stage.

On overseas business, the company's Morocco nickel-based materials base achieved a thousand-tonne-level output breakthrough in phase one, the second phase of the Indonesia Morowali base's nickel smelting line was fully commissioned, a joint venture with South Korea's Posco FM launched an LFP project, and a European battery recycling plant is being developed in cooperation with Germany's CRONIMET Group. In the first half, overseas revenue was RMB 13.335 billion, up 23.66% year on year. In addition, electrolytic nickel products have been registered as delivery brands on the Shanghai Futures Exchange and the London Metal Exchange, and the company's MSCI ESG rating was upgraded to AAA in March 2026.