China Baoan Group Co Ltd

China Baoan has disclosed its first-half 2026 earnings forecast, projecting a loss of approximately 19 million to 37 million yuan. The loss mainly stems from a significant year-on-year decline in gains and losses on trading financial assets held by subsidiaries, as well as investment income accounted for under the equity method. However, based on first-quarter 2026 data disclosed by its two major subsidiaries, BTR and Mayinglong, China Baoan's main business continues to maintain a steady growth trend. BTR achieved first-quarter revenue of 4.31 billion yuan, up 27.09 percent year-on-year, with net profit attributable to the parent of 161 million yuan. Its first-phase 80,000-tonne project in Indonesia has reached full production, the second phase has been successfully commissioned, and the overseas base in Morocco is steadily under construction. BTR has also achieved full coverage of all four major technology routes for silicon-based anodes. Mayinglong reported first-quarter revenue of 1.012 billion yuan and net profit attributable to the parent of 213 million yuan. Sales of its musk hemorrhoid ointment reached 200 million units in 2025, while hemorrhoid suppositories reached 332 million units. Its health business achieved full-year revenue growth of 30 percent and net profit growth of 25 percent in 2025, becoming a new growth engine.