ChinaElectrification & Mobility▼5
Minmetals New Energy expects to swing to profit in first half, but shares drop 30% in three months
Minmetals New Energy announced that it expects net profit attributable to owners of the parent company for the first half of 2026 to be between 340 million and 400 million yuan, swinging to a profit from a loss a year earlier. The company said that in the first half of 2026, the new energy vehicle and energy storage industries developed rapidly, and the company made coordinated efforts in three major areas: power battery materials, energy storage materials, and consumer electronics materials. Product sales volume increased significantly year-on-year, and the profitability of its main business improved markedly. Previously, the company's financial data showed a V-shaped reversal, with a net loss attributable to the parent company of 508 million yuan in 2024, swinging to a profit of 228 million yuan in 2025. As of the close on July 23, Minmetals New Energy rose 6.81% to 7.37 yuan per share, with a total market value of 14.218 billion yuan, but the share price has fallen 34% over the past three months.