Ximei Resources Holding Limited reported a strong first-half performance for 2026, driven by buoyant pricing and higher sales volumes across its tantalum- and niobium-based product lines.
Revenue climbed 52.20% year on year to RMB1.45 billion. Gross profit expanded 63.10% to RMB369.11 million, lifting the gross margin to 25.4% from 23.7% a year earlier. Profit for the period almost doubled, reaching RMB213.78 million, while profit attributable to shareholders rose 101.0% to RMB184.56 million. Basic earnings per share increased to RMB0.48 from RMB0.26.
Segment-wise, tantalum- and niobium-based metal products remained the largest contributor, generating RMB638.71 million, up 26.6% and representing 44.0% of total revenue. Hydrometallurgical compounds delivered RMB432.49 million, an 85.0% increase, now 29.8% of the top line. Trading goods, processing services and other income added RMB381.56 million, up 76.8%.
Cost of sales increased 48.9% to RMB1.08 billion, though the rise was outpaced by revenue growth, underpinning margin expansion. Administrative expenses grew 41.6% to RMB104.65 million, reflecting higher R&D spend and additional costs linked to the Leizhou project’s start-up. Net finance costs rose to RMB18.75 million, driven by expanded bill discounting and lease-related interest.
The balance sheet showed strengthened liquidity: cash and cash equivalents more than doubled to RMB844.26 million from RMB431.49 million at end-2025, pushing the current ratio to 2.42 (end-2025: 1.97) and the quick ratio to 1.39 (end-2025: 1.04). Bank borrowings stood at RMB1.10 billion, up 10.0% from December, while the gearing ratio turned negative due to the enlarged cash position.
Operationally, aerospace applications accounted for 50.8% of revenue, semiconductors 20.8%, energy/medical/others 13.2%, scientific equipment 8.5% and optical communications 6.7%. Overseas sales share rose to approximately 38%, compared with 23% in the prior-year period.
During the period, Ximei Resources completed a HK$549.0 million share placing and top-up subscription, issuing 34.1 million new shares. Proceeds are earmarked for upstream mining investments, capacity expansion and general working capital. A final dividend of HK6.58 cents per share for FY 2025 (RMB22.58 million) was declared; no interim dividend was announced.
Management highlighted continued capacity ramp-up across five production bases, with the Guangdong Leizhou hydrometallurgical project targeting 3,000-ton annual oxide output by 2027. Ongoing investments in R&D lifted the Group’s patent portfolio to 130 authorised patents, underpinning expansion into high-growth sectors such as AI-driven semiconductors, optical communications and new-energy batteries.
The Board flagged macro uncertainties but reiterated its focus on operational efficiency, supply-chain stability and further integration along the tantalum-niobium value chain.