China Risun Group Limited reported interim revenue of RMB 21.86 billion for the six months ended 30 June 2026, up 5.2% year-on-year, while profit surged 376.0% to RMB 244.36 million. Basic earnings per share climbed to RMB 0.0477. The board declared an interim dividend of RMB 0.0144 per share, equivalent to a payout of at least 30% of attributable profit.

Operating Metrics • Coke output fell 13.8% to 9.40 million tonnes, while refined-chemicals volume slipped 10.3% to 2.60 million tonnes. • High-purity hydrogen production declined 17.4% to 9.20 million Nm³, but lithium-battery anode material output jumped 63.9% to 42.00 thousand tonnes. • The average ex-VAT coke price rose 11.3% to RMB 1,515 per tonne as the group maintained a coal-coke spread of roughly RMB 300 per tonne. Caprolactam prices improved 13.3% to RMB 9,701 per tonne.

Segment Performance • Refined chemicals remained the largest revenue contributor at RMB 9.48 billion (+4.2%), delivering gross profit of RMB 925.57 million (+41.4%) and a margin of 9.8% (1H25: 7.2%). • Coke and coking chemicals generated RMB 6.97 billion (+9.6%) with gross profit of RMB 952.58 million; margin edged up to 13.7%. • Operation-management services revenue climbed 46.2% to RMB 1.86 billion after securing a new mandate for Wulong Magnesium; gross profit more than doubled to RMB 150.23 million. • Trading revenue contracted 20.2% to RMB 2.98 billion as low-margin contracts were trimmed; gross margin widened to 6.5%. • New-energy products (anode materials, hydrogen) more than doubled revenue to RMB 523.30 million, swinging to a segment gross profit of RMB 58.26 million from a loss a year earlier. • Property and other income contributed RMB 52.10 million.

Margin and Cost Trends Group gross margin improved to 10.6% from 8.1% on wider product spreads and cost control. Selling and distribution expenses rose 7.6% to RMB 758.88 million, mainly on higher rail logistics costs, while administrative expenses fell 8.9% to RMB 511.21 million.

Capital Structure and Cash Flow Net cash from operations strengthened to RMB 2.53 billion (1H25: RMB 1.86 billion). Capital expenditure and investments totalled RMB 4.56 billion, including the RMB 571.20 million purchase of a 14.5% stake in Shenzhen-listed Tianjin Binhai Energy & Development Co., marking Risun’s formal entry into lithium battery materials. Net borrowings increased, lifting total interest-bearing debt to RMB 41.40 billion; gearing rose to 2.6× (FY25: 2.3×). The group held cash and equivalents of RMB 4.45 billion and unutilised banking facilities of RMB 9.85 billion.

Strategic Developments Risun is executing its “multi-industry, multi-region” strategy: • Binhai Energy now contributes green-power, graphitization and anode-material capacity, expanding the product portfolio to 63 items across six categories. • Construction continues on silicon–carbon (2,000 t/y), porous-carbon (1,000 t/y) and integrated anode-material (20 t/d) lines, alongside a 430 MW phase-II power-storage project. • Core chemical lines such as caprolactam and amino alcohols benefited from tightened industry supply, while the 600 kt/y methanol unit maintained stable output and profitability. • Overseas subsidiary Risun Wei Shan in Indonesia posted revenue growth of 976% and a 1,854% jump in parent-company net profit, aided by higher coking-coal sales and prices.

Outlook Management’s seventh Five-Year Plan (2026-2030) targets enlarged capacities in coke, refined chemicals and new-energy products, deeper integration of operation-management services, and further M&A to reinforce its supply-chain and cost advantages. The group will also pursue hydrogen-energy hubs in the Beijing-Tianjin-Hebei region and accelerate battery-material projects to underpin a “third growth curve.”