Lanfeng Biochemical released its 2026 interim report on August 25. Relying on a coordinated dual-main-business strategy of new energy plus agrochemicals, the company saw its photovoltaic module business ramp up to offset a decline in solar cell revenue, while core products in the agrochemical segment posted higher volumes and prices. However, due to a sharp increase in share-based payment expenses and foreign exchange losses, the reporting period showed higher revenue but lower profit. Financial data show that during the reporting period the company achieved operating revenue of 1.261 billion yuan, up 5.39 percent year on year. Net profit attributable to the parent company was negative 60 million yuan, with the loss widening by 33.55 percent. Net profit after deducting non-recurring items was negative 55 million yuan, with the loss widening by 18.06 percent. Net cash flow from operating activities was negative 1.1394 million yuan, narrowing sharply by 99.15 percent year on year. In terms of business structure, new energy photovoltaic revenue accounted for 73.26 percent of total revenue, reaching 924 million yuan, a slight decline of 0.24 percent year on year. Within this, revenue from N-type high-efficiency SNP module business grew 54.71 percent year on year to 587 million yuan, effectively offsetting the impact of a 36.38 percent year-on-year decline in solar cell revenue. The agrochemical segment achieved revenue of 337 million yuan, up 24.65 percent year on year, with gross margin rising 6.52 percentage points to 7.04 percent. Revenue from core pesticide technical materials and formulation products grew 55.32 percent year on year. The widening net loss mainly stemmed from a surge in period expenses. Selling expenses and administrative expenses rose 52.97 percent and 24.09 percent year on year respectively, mainly due to a substantial increase in share-based payment expenses. Financial expenses rose 83.02 percent year on year, affected by increased foreign exchange losses. Research and development investment fell 41.18 percent year on year.
Jiangsu Lanfeng Bio-chemical Co LtdNet loss widened due to surge in share-based payment expenses and FX losses, despite revenue growth.
