Putailai released its H1 2026 performance forecast, with net profit attributable to shareholders expected to reach 1.4-1.5 billion yuan, up over 30% year-on-year. Driven by global energy transition and booming battery material exports, the company's core business maintains robust growth momentum.
Core Data: Half-Year Profit Exceeds 1.4 Billion Yuan
On July 20, 2026, Shanghai Putailai New Energy Technology Co., Ltd. (Stock Code: 603659) released its half-year performance forecast. Preliminary calculations by the finance department indicate:
- Net profit attributable to shareholders: 1.4-1.5 billion yuan, up 32.66%-42.14% year-on-year
- Net profit excluding non-recurring items: 1.26-1.36 billion yuan, up 27.00%-37.08% year-on-year
- Compared to the same period last year, net profit increased by 345-445 million yuan
| Item | H1 2026 (Forecast) | H1 2025 (Actual) | YoY Growth |
|---|---|---|---|
| Net Profit Attributable | 1.4-1.5B yuan | 1.055B yuan | 32.66%-42.14% |
| Net Profit (Excl. Non-Recurring) | 1.26-1.36B yuan | 992M yuan | 27.00%-37.08% |
| Basic EPS (Previous Period) | — | 0.49 yuan | — |
This forecast represents preliminary calculations and has not been audited. The company stated there are no significant uncertainties affecting the accuracy of this forecast.
Growth Drivers: Three Engines in Parallel
Putailai's strong performance is driven by three core factors working in synergy.
Global Energy Transition Sustains Demand
During the reporting period, the global energy transition continued to drive explosive demand in the electric vehicle and energy storage markets. EV, energy storage, and battery-related product exports maintained rapid growth, while domestic battery supply chain capacity construction lagged, keeping upstream materials and equipment supply tight. As a comprehensive solution provider for key new energy battery materials and automation equipment, Putailai achieved solid shipment growth across its main product lines.
Cost Control Offsets Raw Material Pressure
Despite rising raw material costs, Putailai effectively responded through various cost-reduction and efficiency-improvement measures. Management efficiency continued to improve, and overall profitability maintained a strong growth trajectory. The projected 27%-37.08% year-on-year growth in net profit excluding non-recurring items further confirms the robustness of core business profitability.
Industry Prosperity Remains High
Positioned in the upstream materials segment of the power battery supply chain, Putailai's performance is closely correlated with new energy industry prosperity. In H1 2026, global NEV penetration continued to rise and the energy storage market expanded rapidly, driving strong demand for anode materials and coated separators. The company's membrane materials division alone is expected to contribute approximately 2.66 billion yuan in annual net profit under neutral assumptions, laying a solid foundation for full-year growth.
Business Portfolio: Closed-Loop from Materials to Equipment
Putailai's core competitiveness lies in its integrated "materials + equipment" solution capabilities. Its main businesses include:
- Anode Materials: Research, development, and production of graphite and silicon-carbon anodes
- Coated Separators: Vertically integrated layout covering base films to coating
- Automation Equipment: Battery production equipment and process solutions
- PVDF and Binders: Full industrial chain layout of "R142b-PVDF" through subsidiaries
This vertical integration enables Putailai to maintain strong risk resilience amid supply chain fluctuations, while also preparing technically and in terms of production capacity for next-generation battery technologies such as semi-solid and solid-state batteries.
Investment Perspective: Solid-State Batteries Bring Valuation Reshaping Potential
Market perception of Putailai often stops at "traditional lithium battery material leader," overlooking its deep positioning in next-generation battery technologies. The company's closed-loop "materials + equipment" capabilities in semi-solid/solid-state batteries — including strategic cooperation with Blue Solutions, breakthroughs in dry electrode equipment, and mass production reserves for sulfide/oxide electrolytes — position it for a potential valuation shift from chemical to technology stock.
For investors tracking the new energy supply chain, Putailai's H1 2026 performance forecast not only validates industry prosperity but also demonstrates the profit resilience of leading companies under cost pressure. Visit EX1000.COM for more new energy supply chain analysis.
