Jinbei Electric H1 Revenue Up 27% to RMB 11.861 Billion; Czech Plant Nears Trial Production

The wire and cable industry, driven by the "dual carbon" goals and the new infrastructure wave, is undergoing a transformation from scale expansion to quality and efficiency, and from traditional manufacturing to intelligent and green practices. Downstream applications are becoming increasingly complex and high-end, with market demand evolving from "general adoption" to "professional customization". New products such as offshore wind power cables, flat electromagnetic wires for new energy vehicle drive motors, and high-speed copper cables for AI data centers are emerging. Jinbei Electric Electromagnetic Wire Co. , Ltd. , based in Xiangtan, is a wholly-owned subsidiary of the listed company Jinbei Electric. It has long served national ultra-high-voltage transmission projects and extended its core technology to the new energy vehicle sector, becoming one of the domestic manufacturers of electromagnetic wires for new energy vehicle drive motors.

Jinbei Electric began deploying flat electromagnetic wires for new energy vehicle drive motors during the 13th Five-Year Plan period, developing multiple products with sustained growth in orders and shipments. In the first half of 2026, among the three major business segments—ultra-high-voltage transmission, industrial motors, and new energy vehicles—the ultra-high-voltage and new energy vehicle segments performed notably. The company's 800V high-voltage drive motor ultra-thick film enameled copper flat wire solved industry challenges such as thick film, flexibility, and adhesion control, and has been applied in multiple models from several domestic automakers. To cope with high copper prices, the company uses futures hedging to offset price fluctuation risks, while advancing "aluminum-for-copper" technology research, developing a series of aluminum alloy conductive bars that meet technical requirements for battery packs, and forming partnerships with leading companies.

In 2026, Jinbei Electric's "Smart Factory for Electromagnetic Wires for New Energy Vehicle Drive Motors" was selected for the Hunan Province Advanced-level Smart Factory list. The semi-annual report disclosed on July 30 showed that the company achieved operating revenue of RMB 11.861 billion in the first half, up 27.07% year-on-year; net profit attributable to shareholders was RMB 317 million, up 6.96%. Among this, the electromagnetic wire industry center generated revenue of RMB 5.106 billion, up 36% year-on-year; sales volume was 51,500 tonnes, up 11%. The Jinbei Electric electromagnetic wire base in Xiangtan is a key support for the growth of the electromagnetic wire segment. The company plans to invest in the project in three phases, and after the third phase is completed, production capacity will be more ample.

The Xiangtan electromagnetic wire base has basically completed the construction of an annual production capacity of 50,000 tonnes of enameled flat electromagnetic wires specifically for new energy vehicles. In the first half, the company's direct overseas exports achieved operating revenue of RMB 515 million, up 96.87% year-on-year, with the proportion of operating revenue rising from 2.8% in the same period of 2025 to 4.34%. Among this, direct exports of electromagnetic wires exceeded 5,000 tonnes, up more than 60% year-on-year, covering Europe, East Asia, Southeast Asia, and South America. The company also established its first large-scale overseas production base—the European electromagnetic wire production base in the Czech Republic—with a planned annual capacity of 20,000 tonnes of flat electromagnetic wires, built in two phases, with the first phase planning an annual capacity of 8,000 tonnes. Currently, the core production equipment has been installed and debugged, and local recruitment, skills training, supply chain construction, and quality system development are progressing simultaneously. The base has received its first order from a leading Czech transformer company and is about to commence trial production.

After the base becomes operational, the overseas business model will upgrade from single product exports to a coordinated layout of "domestic manufacturing exports plus overseas localized production", shortening delivery cycles in the European market and improving localized service response. The Czech plant is primarily built for incremental customers in Europe, while the Xiangtan base remains the core manufacturing base for the electromagnetic wire business.