Zhejiang Power New Energy Co. Ltd. ACompany swung to profit with revenue up 90.16% and gross margin rebounded, indicating improved financial performance.

ST Paiva released its 2026 semi-annual report, achieving operating revenue of 455 million yuan, up 90.16 percent year-on-year, with net profit attributable to the parent of 45.06 million yuan, swinging from a loss to a profit. The company's non-recurring net profit turned to a profit of 2.01 million yuan from a loss of 161 million yuan in the same period last year, and its gross profit margin rebounded by 17.84 percentage points from the end of 2025 to 7.49 percent. The company proactively adjusted its business structure, concentrating resources on developing single-crystal high-voltage ternary products, and completed the disposal of assets related to the 15,000-tonne project in Lanxi to recoup funds. In terms of cutting-edge technology, the company's lithium-rich manganese-based precursors have been sampled to multiple customers and secured tonne-level orders, while it is also collaborating with the Quzhou Research Institute of Zhejiang University on sulfide solid-state electrolyte technology.
Zhejiang Power New Energy Co. Ltd. ACompany swung to profit with revenue up 90.16% and gross margin rebounded, indicating improved financial performance.