Eve Energy Co.,Ltd. has delivered a sharply accelerating first-half scorecard, with both revenue and profit climbing at a robust pace as its large-cylinder power batteries, commercial vehicle batteries, and energy storage batteries all ramped up in tandem. The company has declared the completion of its hundred-billion-level operating platform, officially entering a new phase of scaled expansion.

On Wednesday, Eve Energy Co.,Ltd. disclosed its 2026 interim report, posting operating revenue of RMB 45.691 billion for the first half, up 62.20% year-on-year. Net profit attributable to shareholders stood at RMB 3.301 billion, a surge of 105.66% from a year earlier, outpacing the revenue growth rate by over 40 percentage points, signaling a significant expansion in profit elasticity. Excluding non-recurring items, net profit reached RMB 2.451 billion, up 111.89%, underscoring a concurrent improvement in earnings quality. In terms of shipments, power battery volumes hit 35.76 GWh, up 66.47% year-on-year, while energy storage battery shipments rose 54.88% to 44.46 GWh.

The company also unveiled an interim dividend proposal, planning to distribute RMB 2.30 in cash (tax included) per 10 shares based on a base of 2.173 billion shares.

Notably, net cash flow generated from operating activities stood at negative RMB 388 million during the reporting period, a substantial drop from the RMB 2.373 billion recorded in the same period last year, reflecting heightened pressure on working capital tied to the ongoing expansion phase.

Upstream Supply Chain Moves Offset Cost Pressures, Bolstering Profitability

During the first half, raw material prices for lithium batteries entered an upward cycle, putting broad cost pressures on the industry. Eve Energy Co.,Ltd. noted that its forward-looking supply chain management strategy, built on early industry cycle forecasting, helped maintain a certain level of self-sufficiency in core raw materials like nickel and cobalt through owned and affiliated upstream resources. The company also implemented hedging programs for core materials such as copper and lithium, as well as major settlement currencies like the euro and US dollar, effectively mitigating risks from price and exchange rate fluctuations.

These initiatives helped lift the company's weighted average return on equity from 4.20% in the year-ago period to 7.24%, an increase of 3.04 percentage points, with earnings quality continuing to improve.

Large-Cylinder Cells Enter BMW's Supply Chain, Opening New High-End EV Growth Avenues

On the technology front, large-cylinder batteries emerged as a key driver of the period's earnings momentum. The company claims to be the first domestic player to achieve mass production and vehicle installation of large-cylinder power batteries. During the reporting period, its 46-series large-cylinder cells entered the scaled delivery stage, successfully securing the role of initial battery supplier for BMW's new-generation models. The company plans to continue expanding its high-end passenger vehicle client base, cementing its positioning as the preferred choice for premium cars.

In commercial vehicle batteries, Eve Energy Co.,Ltd. has achieved 90% coverage among the top 10 domestic commercial vehicle OEMs, with full coverage of the top 10 heavy-duty truck customers. Leveraging its Open Source Battery 3.0 technology, the company's core commercial vehicle products saw supply fall short of demand during the period, while overseas commercial vehicle battery shipments also grew rapidly.

In the energy storage segment, the company states it is the world's first to mass-produce 600Ah+ large-format lithium iron phosphate storage batteries. During the reporting period, production capacity for its 628Ah Mr.Big ultra-large capacity cells was progressively released, enhancing scaled delivery capabilities. The company has secured multiple large-scale collaborations with global top-tier storage integrators and project owners, further elevating its global market share and industry influence. It also noted ongoing R&D for next-generation ultra-large capacity cells to help clients lower per-unit investment costs for power stations.

Malaysia and Hungary Plants Advance, Building a Global Manufacturing Network to Tackle Trade Barriers

On the capacity front, several newly built plants have entered their production ramp-up phase, including the large-format super factory, large-cylinder battery facility, and new plants planned for passenger and commercial vehicle clients. Overseas, the Malaysia base has achieved mass production of consumer batteries, with energy storage battery projects progressing steadily, while the Hungary power battery base is advancing as planned.

The company emphasized that, amid a complex global trade landscape, its early-mover global capacity layout has effectively mitigated regional trade barriers, significantly enhancing global delivery capabilities and resilience. With a three-pronged growth engine—stable revenue from consumer batteries, rapid growth in power batteries, and a globally leading storage battery business—alongside frontier reserves in sodium-ion, solid-state, and hydrogen energy technologies, the company says its hundred-billion-level operating platform is now complete, officially ushering in a new cycle of scaled, globalized, and high-quality development.