Shenzhen Capchem Tech

Shenzhen Capchem Technology has released its 2026 semi-annual report. During the period, it achieved operating revenue of 7.463 billion yuan, up 75.66% year on year, and net profit attributable to shareholders of the listed company of 984 million yuan, up 103.33% year on year. The company said that, driven by growing demand for new energy vehicles, the shift of the energy storage market from policy-driven to market-driven, and the continued development of consumer electronics, global lithium battery market demand has expanded, driving synchronous growth in demand for lithium-ion battery electrolytes. The company also announced a dividend plan, proposing to distribute a cash dividend of 3 yuan before tax for every 10 shares to all shareholders.

Xinzhoubang disclosed its 2026 half-year report. In the first half, it achieved operating revenue of 7.463 billion yuan, up 75.66% year on year. Net profit attributable to shareholders of the listed company was 984 million yuan, up 103.33% year on year. Basic earnings per share were 1.31 yuan. The company plans to distribute a cash dividend of 3 yuan per 10 shares, tax included. The company said that, benefiting from industry development opportunities brought by the rapid growth of high-tech industries and the continued rapid recovery of the new energy lithium battery industry, the three main business segments achieved deep synergy between technology and market. Production and sales of major products rose quickly, operating results of key projects improved steadily, and overall performance grew significantly year on year.

Domestic lithium battery material prices continue to climb. The average price of the electrolyte additive vinylene carbonate has reached 200,000 yuan per ton, with highs of 230,000 yuan, nearly 4.9 times higher than a year ago. Lithium carbonate prices have also doubled to 145,400 yuan per ton, while anode materials and lithium iron phosphate have seen successive price hikes. Facing supply shortages, companies such as Ronbay Technology, Tinci Materials, and Capchem have rolled out expansion plans this year, with total investment in all new and expansion projects amounting to approximately 30 billion yuan. The industry worries that collective capacity expansion may sow risks of overcapacity and a shakeout in the medium to long term, while the sector's overall gross profit margin has already fallen from 27.34 percent in 2021 to 12.56 percent in 2025.

A total of 12 stocks received buy ratings from institutions today, with BOE Technology and China Satellite gaining first-time coverage. According to statistics from Securities Times Data Treasure, institutions published 12 buy rating records covering 12 stocks, with BOE Technology and Han's Laser drawing the most attention. Among the 9 rating records that included target prices, 8 stocks have upside potential exceeding 20 percent. Azure Lithium Core leads with 93.31 percent upside, as Soochow Securities set a target price of 37 yuan. Capchem and Tinci Materials have upside potential of 69.88 percent and 65.75 percent respectively. In terms of performance, among the 8 stocks that disclosed first-half earnings forecasts, Tinci Materials is expected to post the highest net profit growth, surging 963.83 percent year-on-year, followed by Han's Laser and Capchem. By sector, the electrical equipment industry was the most favored, with three stocks including Capchem and Tinci Materials receiving ratings, while the electronics and machinery equipment sectors each had two stocks rated.

GigaDevice has released its half-year performance forecast, estimating net profit attributable to shareholders of the listed company for the first half of 2026 at approximately 6.9 billion yuan, a year-on-year increase of about 1,099 percent, mainly driven by tight supply in the memory chip industry, with both volume and price of the company's memory chip products rising, and microcontroller product shipments also achieving good growth. Foxconn Industrial Internet expects first-half net profit of 23.4 billion to 24.4 billion yuan, up 93 to 101 percent year-on-year, with shipments of data center switches of 800G and above growing 1.4 times year-on-year. Western Mining expects first-half net profit of 4 billion to 4.3 billion yuan, up 114 to 130 percent year-on-year, as prices of copper, gold, and silver products rose compared with the same period last year. Sunwave Communications expects first-half net profit of 40 million to 55 million yuan, up 1,428.58 to 2,001.80 percent year-on-year, with internet business revenue achieving growth. Han's Laser expects first-half net profit of 1.25 billion to 1.35 billion yuan, up 156.07 to 176.55 percent year-on-year, with the revenue share of AI PCB solutions increasing. Tinci Materials expects first-half net profit of 2.7 billion to 3 billion yuan, up 907.84 to 1,019.82 percent year-on-year, with strong market demand for lithium-ion battery materials such as electrolyte and lithium hexafluorophosphate. Capchem expects first-half net profit of 970 million to 1.03 billion yuan, up 100.48 to 112.88 percent year-on-year, with the market share of core products in the electronic information chemicals business steadily increasing. Meichang New Materials expects first-half net profit of 295 million to 315 million yuan, up 248.45 to 272.08 percent year-on-year, with the shipment share of tungsten wire diamond wire increasing. Tianhua New Energy expects first-half net profit of 2.2 billion to 2.4 billion yuan, turning from a loss to a profit year-on-year, with both volume and price of lithium battery materials rising. Shenhuo Coal & Power expects first-half net profit of 4.8 billion yuan, up 152.04 percent year-on-year, with selling prices of electrolytic aluminum and coal products rising year-on-year. Feilong Auto Components expects first-half net profit of 68 million to 80 million yuan, down 61.98 to 67.69 percent year-on-year, affected by exchange rate fluctuations, intensified industry competition, and rising raw material prices. Dalian Insulator expects first-half net profit of 140 million to 180 million yuan, up 200.55 to 286.43 percent year-on-year, having completed product supply for key ultra-high voltage projects. Baotou Steel and Northern Rare Earth both adjusted the rare earth concentrate transaction price for the third quarter to 38,565 yuan per ton excluding tax, down 0.62 percent quarter-on-quarter. Caitong Securities expects first-half net profit of 1.84 billion to 1.95 billion yuan, up 70 to 80 percent year-on-year, with significant year-on-year growth in proprietary investment, wealth management, private equity investment, and investment banking businesses. Dinglong shares expects first-half net profit of 510 million to 540 million yuan, up 63.96 to 73.61 percent year-on-year, with major breakthroughs in the CMP polishing fluid and cleaning fluid business. Han's CNC expects first-half net profit of 900 million to 1 billion yuan, up 241.85 to 279.84 percent year-on-year, with the revenue share of AI PCB-related solutions significantly increasing. Zijin Mining expects first-half net profit of approximately 39.1 billion yuan, up about 68 percent year-on-year, with profits from rare and precious metals and other products increasing substantially year-on-year. Allwinner Technology expects first-half net profit of 475 million to 515 million yuan, up 194.73 to 219.55 percent year-on-year, with operating revenue increasing about 40 percent year-on-year. Enjie shares expects first-half net profit of 736 million to 900 million yuan, turning from a loss to a profit year-on-year, with production and sales of main products continuing to grow. Hongfuhan expects first-half net profit of 73 million to 83 million yuan, up 221.13 to 265.13 percent year-on-year, with the scale of heat dissipation and automation equipment business growing. Qianyuan Power expects first-half net profit of 220 million to 255 million yuan, up 73.01 to 100.54 percent year-on-year, with power generation increasing 26.10 percent year-on-year. Zhengbang Technology expects a first-half net loss of 700 million to 800 million yuan, turning from a profit to a loss year-on-year, with the average selling price of commercial pigs declining year-on-year. COSCO Shipping Specialized Carriers expects first-half net profit of 1.279 billion to 1.402 billion yuan, up 55 to 70 percent year-on-year, with demand for specialized vessels surging. Wynca expects first-half net profit of 240 million to 260 million yuan, up 247 to 276 percent year-on-year, with market selling prices of leading products rising. In addition, Azure intends to invest 290 million US dollars in Indonesia to build a 5 gigawatt-hour cylindrical lithium battery project, Tiansheng shares plans to establish a joint venture with Beijing Kangte Electronics to invest in a quartz crystal resonator project, Xinrui shares plans to acquire 80 percent equity of Huilian Electronics for 800 million yuan, Neusoft Corporation plans to repurchase shares for cancellation with 100 million to 200 million yuan, Datang Power plans to raise no more than 8 billion yuan for multiple power plant expansion projects, and Hangyu Technology has signed a long-term supply agreement for aero-engine rotating parts with an estimated total value of about 240 million yuan.

Tianqi Materials issued an earnings forecast, projecting that net profit attributable to the parent for the first half of 2026 will rise by 907.84% to 1019.82% year-on-year, while net profit after deducting non-recurring items will increase by 1029.57% to 1157.44%. The company attributed the sharp earnings growth mainly to strong demand for lithium battery electrolytes and lithium hexafluorophosphate, with electrolyte shipments up over 40% year-on-year and capacity utilisation near full. At the same time, an improved supply-demand balance drove electrolyte prices up by more than 70% cumulatively from their 2025 lows. Capchem and Yongtai Technology also disclosed substantial profit increases for the same period, forecasting net profit attributable to the parent to grow by 100.48% to 112.88% and 350.68% to 461.22% respectively. Tianqi Materials also revealed that, based on downstream customer demand, electrolyte production scheduling in the third quarter will increase further quarter-on-quarter, and it will advance expansion and renovation projects at production bases in Jiujiang and Fuding to bolster capacity reserves.