Zhuhai CosMX Swings to H1 Net Loss of RMB 203 Million as Revenue Rises 20.16%
Zhuhai CosMX reported first-half 2026 revenue of RMB 7.327 billion, up 20.16% year on year, but swung to a net loss of RMB 203 million attributable to shareholders, versus a profit of RMB 117 million in the year-earlier period. The company attributed the reversal to sharply higher exchange losses that inflated financial expenses, elevated raw material costs that outpaced product price adjustments, and reduced export tax rebates on battery products. Downstream customers' own cost pressures further hindered the company's ability to pass through cost increases.
Zhuhai CosMX has disclosed its 2026 semi-annual report. During the reporting period, the company generated revenue of RMB 7.327 billion, up 20.16% year on year. Net profit attributable to shareholders of the listed company stood at -RMB 203 million, compared with a profit of RMB 117 million in the same period of 2025, marking a swing from profit to loss.
The company said the change in net profit was mainly driven by three factors. First, a significant increase in exchange losses led to a substantial rise in financial expenses. Second, raw material prices climbed and remained at elevated levels, keeping production costs under sustained pressure; meanwhile, downstream customers were also facing rising prices for components such as memory chips, making cost pass-through more difficult, with product price adjustments lagging behind raw material price increases. Third, the reduction in export tax rebate rates for battery products further raised the cost of overseas sales.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is negative for Batteries & Energy Storage, with intensity 50/100 and 70% confidence over a short term horizon.
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