Jiangnan Chemical released its 2026 semi-annual report, achieving operating revenue of 4.962 billion yuan, up 2.44 percent year on year, with non-GAAP net profit attributable to the parent of 278 million yuan. Against the backdrop of overall contraction in the civil explosives industry, the company's civil explosives segment posted revenue of 4.602 billion yuan, up 3.27 percent year on year, accounting for 92.73 percent of total revenue. Within this, production and sales of civil explosive products generated revenue of 1.715 billion yuan, up 9.99 percent year on year, while blasting engineering services brought in 2.454 billion yuan. Overseas operating revenue reached 629 million yuan, up 1.87 percent year on year, with an overseas gross margin of 20.76 percent, an increase of 3.34 percentage points from a year earlier. The company completed its 2025 profit distribution, paying a total cash dividend of 233 million yuan, and formulated a 2026 market value management work plan. Guotai Haitong gave an overweight rating, forecasting earnings per share of 0.31 yuan, 0.35 yuan, and 0.39 yuan for 2026 through 2028, with a target price of 5.89 yuan. Shenwan Hongyuan Securities maintained an overweight rating, projecting net profit attributable to the parent of 783 million yuan in 2026 and 915 million yuan in 2027.
Anhui Jiangnan Chemical Industry Co LtdJiangnan Chemical's semi-annual report shows revenue growth and improved margins, with positive analyst ratings.
Shenwan Hongyuan Group Co Ltd
Guotai Junan Securities Co Ltd