Taikin New Energy: Expected net profit attributable to shareholders for January-March 2026 to be between 35 million and 45 million yuan

Securities Star News: Taijin New Energy has released an earnings forecast, expecting a net profit attributable to shareholders of 35 million to 45 million yuan for January to March 2026.

The announcement explains the reasons for this performance change as follows:

The company expects its operating revenue for 2026 to be 2,014.82 million yuan. In the first quarter of 2026, the company anticipates revenue of 400 million to 500 million yuan, accounting for 19.85% to 24.81% of the full-year forecast. Comparatively, the proportion of main business revenue in the first quarter of 2022-2025 was 23.57%, 24.43%, 20.96%, and 29.34% respectively (the higher proportion in Q1 2025 was mainly due to the large acceptance amount of the Taiyuan Huike A1 project). Excluding the impact of this project, the revenue in Q1 2025 was 350 million yuan, which is lower than the revenue expected in Q1 2026. The revenue in Q1 2026 is higher than or roughly equal to that of Q1 2022-2024, and the revenue scale proportion in Q1 2026 is generally in line with expectations. The overall progress of the projects scheduled for acceptance in 2026 is on track. With continued order signing, the company’s current backlog is sufficient, and shipments in the first half of 2026 have significantly exceeded expectations. Shipment and project acceptance are improving steadily, and the revenue and profit decline in Q2-Q4 2026 or for the full year is expected to narrow compared to Q1 2026, making it feasible to achieve the 2026 performance targets. Currently, the downstream copper foil industry is recovering steadily, with no major adverse changes. The company’s core business, operating environment, key customers or suppliers, processes, R&D activities, etc., have not experienced significant negative changes. The overall financial condition remains good, and the decline in Q1 2026 performance will not significantly impact the company’s ongoing operations.

In Q1 2026, the company expects its revenue to decrease by 28.08% to 42.46% year-over-year, mainly due to high revenue from project acceptances such as Taiyuan Huike A1 in Q1 2025, which is close to the 469.62 million yuan achieved in Q1 2024. As the market recovers rapidly, copper foil manufacturers are experiencing full order books, and the company has successively signed large new orders, including contracts with Sichuan Copper (64 cathode roller, 64 integrated foil machines), Jiangxi Copper (32 cathode rollers, 32 integrated foil machines), Ganzhou Yihao New Materials (24 integrated foil machines) in late 2025, and completed the contract signing for 9 cathode rollers and 64 integrated foil machines with Gansu Hailiang in January 2026. Additionally, Jiayuan Times placed orders for 18 and 38 units in November and December 2025 under previously delayed contracts. Taiyuan Huike has fully launched the A2 project, with remaining contracts expected to be fully executed in the first half of 2026. According to the latest shipment plan, the company aims to deliver 439 units in the first half of 2026, exceeding the original target of 303 units. As customer demand increases, shipment volume is expected to further grow.

In Q1 2026, the company expects its net profit attributable to parent company owners after deducting non-recurring gains and losses to be between 33 million and 43 million yuan, a decrease of 47.33% to 59.58% year-over-year, mainly due to lower revenue and increased expenses and credit impairment losses. In Q1 2025, the company’s net profit after non-recurring items attributable to the parent was 40.12% of the full-year net profit (audited). Currently, domestic industries such as AI, 5G high-speed communications, cloud computing, and new energy vehicles are experiencing rapid technological innovation and development, creating significant market demand for high-end electrolytic copper foil, ultra-thin carrier copper foil for chip packaging, and composite copper foil. The company actively develops high-end electrolytic copper foil equipment technology, continues expanding its market share among domestic high-quality clients, and promotes overseas copper foil equipment business. It also leverages its technical advantages in titanium electrodes to increase market share.

Meanwhile, the company insists on technological innovation, continuously develops new products, and explores new markets, including PET composite copper foil equipment, photovoltaic copper plating equipment, anodes, alkaline/PEM electrolyzers for hydrogen production, key materials, military connectors, and other high-performance sealing and connection products. It maintains ongoing product innovation and market expansion efforts to discover new growth points for performance.

The above content is compiled from publicly available information by Securities Star, generated by AI algorithms (Network Information Backup 310104345710301240019), and does not constitute investment advice.