Power Diamond reported first-half 2026 revenue of 438 million yuan, up 80.94% year-on-year, with net profit attributable to shareholders of the listed company reaching 90.08 million yuan, a year-on-year surge of 247.61%. The earnings recovery was mainly driven by the cultivated diamond business defying the off-season, with large-grain diamond product revenue hitting 297 million yuan, up 141.93% year-on-year, and gross margin rising to 34.87%. The company also announced it will redirect approximately 1.028 billion yuan in unspent raised funds originally earmarked for cultivated diamond capacity expansion entirely into a diamond functional materials production and R&D project, pivoting to produce high-end products such as heat-dissipation materials and optical materials. Peer company North Industries Red Arrow expects to swing to a profit in the first half, while Huanghe Whirlwind has narrowed its losses, both citing improvement in the cultivated diamond business. However, Power Diamond's non-recurring net profit base remains low, gross margin for its diamond micropowder business fell 30.84% year-on-year, and the transition to functional materials still faces uncertainties in moving from the lab to large-scale production.
North Industries Group Red Arrow Co LtdMentioned as expecting to swing to profit in first half due to improvement in cultivated diamond business.
Henan Huanghe Whirlwind Co LtdMentioned as narrowing losses due to improvement in cultivated diamond business, same sector tailwind.
Henan Liliang Diamond Co. Ltd.