Wankai New Materials H1 2026 Revenue RMB 9.652 Billion, Net Profit RMB 562 Million, Up 910.09%
Wankai New Materials' H1 2026 report shows revenue of RMB 9.652 billion, up 17.52% year-on-year, and net profit of RMB 562 million, surging 910.09%. The company cited industry recovery and higher processing margins. PET sales volumes and prices rose, with a sales-to-production ratio of 108.42%.
Wankai New Materials released its 2026 semi-annual report on August 23. During the reporting period, the company achieved revenue of RMB 9.652 billion, up 17.52% year-on-year, and net profit attributable to shareholders of RMB 562 million, up 910.09%. Main products include bottle-grade PET and bright PET, with bottle-grade PET contributing 95.59% of main business revenue, bright PET 1.51%, other products 0.65%, and other businesses 2.26%.
The company's H1 performance growth was mainly driven by industry recovery, with processing margins rebounding from lows and stable market demand growth. Facing upstream raw material price fluctuations, the company adjusted production, procurement, and sales rhythms, strengthened inventory management, and achieved a sales-to-production ratio of 108.42%. Due to the simultaneous increase in PET sales volume and unit price, both revenue and operating costs grew year-on-year, with the former growing 17.52%, higher than the latter's 9.77%.
Financial expenses surged 764% year-on-year to RMB 210 million, mainly due to increased borrowings, higher interest income in the prior period, and exchange losses. Selling and administrative expenses remained relatively stable. R&D investment reached RMB 60.8171 million in H1, up 84.80% year-on-year.
In overseas business, the company sold 483,900 tons overseas, with exports growing 11.50% year-on-year. The 300,000-ton-per-year food-grade PET project in Nigeria successfully completed trial production at the end of June and officially commenced operations by the report date, marking the company's first self-built overseas production base. The 750,000-ton polyester chip project in Indonesia is progressing as planned. After Zhejiang Yaoruxing New Materials was consolidated into the company's reporting scope, the construction content was adjusted to a 1.5 million-ton SSP bottle-grade polyester chip facility, currently in the foundation construction stage.
According to the semi-annual report, the company plans no cash dividend, no bonus shares, and no capital reserve conversion to share capital.