Chuangxin Industries Holdings reported H1 2026 net profit of RMB 2.30 billion, a 166.1% increase year-on-year, driven by higher aluminum prices, an expanding green-power mix and lower financing costs. Basic EPS rose to RMB 1.11, while the board declared no interim dividend.

Group revenue grew 32.4% to RMB 11.53 billion. Electrolytic aluminum sales contributed RMB 8.02 billion, up 21.2%, as domestic spot prices climbed and the company captured a wider overseas-domestic spread. Alumina and related products added RMB 2.52 billion, up 34.4% on volume growth. Power and other sales surged to RMB 0.99 billion, reflecting expanded electricity trading.

Gross profit margin widened to 34.7% from 19.8%, lifting gross profit to RMB 4.00 billion. Aluminum unit cost averaged RMB 14,500 per tonne—about 10% below China’s industry average of RMB 16,105—thanks to lower coal and alumina input prices and a higher share of in-house wind and solar power. Finance costs fell 32.0% to RMB 227.19 million after refinancing at lower rates.

Total assets rose to RMB 30.71 billion; equity stood at RMB 10.57 billion. Cash and cash equivalents were RMB 2.16 billion, while restricted deposits totalled RMB 1.45 billion. Bank and other borrowings increased to RMB 14.27 billion, lifting the debt-to-asset ratio to 65.6%. Capital expenditure reached RMB 1.36 billion, mainly for green-energy projects; contracted capex yet to be spent was RMB 0.65 billion.

During the period, the company completed 1,040 MW of wind and 110 MW of solar installations, achieving 66% of its 1,750 MW green-power buildout; renewable electricity is expected to exceed 50% of total usage post-completion. Chuangxin also acquired the remaining 41.5% stake in Shandong Chuangyuan and purchased Tongliao Smart Mining for RMB 1.00 billion, adding coal exploration rights and integrating upstream resources.

Investment in the Saudi Arabia 500 kt integrated aluminum project progressed on schedule; cumulative capital injection reached RMB 1.93 billion. After securing local project financing, the board reallocated RMB 0.89 billion of unspent IPO proceeds to bulk-commodity reserves and RMB 0.48 billion to debt repayment, while keeping RMB 1.78 billion earmarked for domestic green-power projects.

Management expects renewable capacity additions, the Saudi start-up and ongoing digital upgrades to bolster cost competitiveness and earnings resilience in H2 2026. No further guidance was provided.