Yongxing Special Stainless Steel Co Ltd

Yongxing Materials released its 2026 interim report, with net profit attributable to the parent company of 959 million yuan. The company's total operating revenue was 5.083 billion yuan, and net cash inflow from operating activities was 1.085 billion yuan. The latest asset-liability ratio was 13.16%, gross margin was 28.09%, ROE was 7.12%, and diluted earnings per share was 1.81 yuan. The company had 63,000 shareholders, and the top ten shareholders held 258 million shares, accounting for 47.83% of the total share capital.

Yongxing Materials released its first-half 2026 report, achieving operating revenue of 5.083 billion yuan, up 37.62% year on year, and net profit attributable to shareholders of the listed company of 959 million yuan, up 139.24% year on year. The company plans to distribute a cash dividend of 3 yuan per 10 shares, tax included, to all shareholders, and will not convert capital reserve into share capital. Second-quarter net profit was 470 million yuan, down 3% quarter on quarter.

On the evening of August 24, several listed lithium salt producers disclosed their 2026 half-year reports. Benefiting from rising lithium prices in the first half of the year, these companies posted sharply higher results, with the highest net profit growth exceeding tenfold. Sinomine Resource Group achieved operating revenue of 3.66 billion yuan, up 12.03 percent year on year, and net profit attributable to shareholders of 1.111 billion yuan, up 1,146.81 percent. Yongxing Special Materials Technology achieved operating revenue of 5.083 billion yuan, up 37.62 percent year on year, and net profit attributable to shareholders of 959 million yuan, up 139.24 percent. Chengxin Lithium Group achieved operating revenue of 7.358 billion yuan, up 355.94 percent year on year, and net profit attributable to shareholders of 1.012 billion yuan, up 220.3 percent. Sichuan New Energy Power achieved operating revenue of 3.34 billion yuan, up 124.78 percent year on year, and net profit attributable to shareholders of 706 million yuan, up 130.73 percent.

A recovery in lithium prices has driven a broad rally in A-share lithium mining stocks. Yongshan Lithium shot up to its daily limit, with over 333,000 lots locked in at 13.72 yuan per share. Industry leader Ganfeng Lithium, with a market cap in the hundreds of billions, rose 4.64%, Tianqi Lithium gained over 3%, Shengxin Lithium Energy jumped over 6%, Yongxing Materials and Rongjie shares added over 4%, and ST Welding hit its daily limit. Ganfeng Lithium expects a first-half net profit attributable to shareholders of 3.65 billion to 4.6 billion yuan, a staggering year-on-year surge of 787% to 966%, compared with a net loss of 531 million yuan a year earlier. The most-active lithium carbonate futures contract extended its intraday gain to 3.58%, breaking through the 146,000 yuan mark to trade at 146,500 yuan per tonne. Separately, the environmental impact assessment for the Yajiang Snowway lithium mine project, acquired by CATL through restructuring, has been accepted, marking a key milestone toward production for the mine, which carried a restructuring consideration of over 6.4 billion yuan. Once completed, the mine will have an annual production capacity of 1.5 million tonnes.

Yongxing Materials announced that the company is planning an overseas H-share issuance and applying for a listing on the Hong Kong Stock Exchange, aiming to advance its global strategy, expand overseas business, and build a diversified capital operations platform. The 2026 half-year results released the same day show the company expects attributable net profit for the first half to be between 950 million and 1.15 billion yuan, a year-on-year increase of 137.02% to 186.92%, mainly driven by rising lithium salt prices and stable production and sales of lithium carbonate. Yongxing Materials is a leading domestic mica-based lithium extraction company, with dual core businesses in lithium battery new energy and special steel new materials. In 2025, it recorded revenue of 7.423 billion yuan and attributable net profit of 661 million yuan. Since late 2024, China's lithium battery industry chain has seen a wave of Hong Kong listings, with CATL and CNGR Advanced Materials already debuting, and Yongxing Materials becoming the latest entrant.