New energy materials producer CNGR Advanced Material Co. Ltd. (2579.HK) announced on Monday it expects its net profit for the first half of 2026 to range from 1.25 billion yuan ($184 million) to 1.35 billion yuan, up 70.58% to 84.23% year-on-year. Excluding non-recurring gains and losses, its net profit is expected to reach 1.2 billion yuan to 1.3 billion yuan, up 83.63% to 98.93% year-on-year.
The company said combined sales of its core nickel-based, cobalt-based, phosphorus-based and sodium-based products exceeded 250,000 tons during the period. Sales of ternary precursors rose more than 50%, while its overall gross margin was stable. Sales of phosphorus-based materials increased more than 25%, helping the segment swing to a profit, while sales of sodium-ion battery precursor materials also posted brisk growth.
The company added that returns from its upstream resource investments increased, while its Indonesian pyrometallurgical nickel smelting projects maintained strong profitability due to their cost advantages. It said greater integration across its “resources + smelting + materials” value chain further strengthened its operational resilience.
CNGR’s shares opened higher on Tuesday and traded at HK$24.66 by the midday break, up 5.12%. The stock is down 31.3% over the past six months.
By Lee Shih Ta
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