Daoshi Tech 2026 H1 Revenue RMB 4.794 Billion, Net Profit RMB 290 Million, Strategic Resources Segment Up 49%

Daoshi Technology (300409) released its 2026 semi-annual report. During the reporting period, the company achieved operating revenue of RMB 4.794 billion, up 31.21% year on year; net profit attributable to shareholders of the listed company was RMB 290 million, up 25.92%; and net profit excluding non-recurring items was RMB 283 million, up 34.33%.

The strategic resources segment was the main driver of the company's first-half revenue growth. This segment generated operating revenue of RMB 2.586 billion, up 49.31% year on year, accounting for 53.93% of total revenue; its gross margin reached 28.25%, up 0.51 percentage points from the same period last year. Global copper supply and demand remained in a tight balance, with copper prices trading at high levels. The company's cathode copper shipments increased year on year, with products supplied directly to metal traders such as SAMSUNG and MERCURIA. The 30,000-tonne-per-year cathode copper hydrometallurgical smelting project in the Democratic Republic of the Congo is under construction as planned, with an investment progress of 14.32% as of the end of the reporting period.

In the new materials field, the carbon materials and anode materials business generated revenue of RMB 374 million in the first half, up 13.7% year on year. The fifth-generation conductive agent single-walled carbon nanotubes and slurry achieved mass production in 2026, and the company has a stable large-scale production capacity of 50 tonnes of single-walled carbon nanotubes per year. Key indicators of its powder products, including purity, specific surface area, and G/D ratio, have reached or surpassed the levels of leading international companies, and the products have been supplied in bulk to multiple cell manufacturers. For silicon-carbon anodes, the company, relying on its self-developed porous carbon matrix technology, has achieved large-scale production capacity and batch shipments, with a first-cycle efficiency of over 87% at 0.8V in half-cells. The cathode-related materials business achieved revenue of RMB 1.499 billion, up 18.43% year on year, with gross margin up 6.07 percentage points to 15.55%.

The Hexi Atomic Computing Center has completed overall construction and equipment deployment, and will officially commence operations. The center has a deployment scale of 100 units, all using Hexi I servers equipped with Xinpeisen's self-developed APU acceleration technology, and is supported by a self-developed integrated atomic computing software platform.