Boway Alloy's first-half revenue rises but profit falls over 40%

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Boway Alloy released its 2026 semi-annual report. In the first half, it achieved operating revenue of 12.636 billion yuan, up 23.62% year on year, but net profit attributable to the parent company was 394 million yuan, down 41.66% year on year, and non-GAAP net profit was 352 million yuan, down 46.24%. By product, new materials revenue was 10.825 billion yuan, up 36.42% year on year, with net profit of 269 million yuan, up 14.70%; new energy products revenue was 1.677 billion yuan, down 22.70% year on year, with net profit of 126 million yuan, down 71.56%. The company's operating costs were 11.394 billion yuan, up 29.86% year on year. Cost growth outpaced revenue, and combined with a 20.74% increase in research and development expenses and financial expenses turning from negative to positive, profit margins were squeezed. In addition, the implementation site of the company's 30,000-ton special alloy electronic material strip expansion project has been changed to Morocco, with an estimated total investment of 1.076 billion yuan. The scheduled date for reaching usable condition has been postponed from June 2026 to December 2028. No profit distribution will be made in this reporting period.

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