According to the Guosheng Securities Research Report, the volume and price of Tianhua Xinneng's lithium salt business have risen sharply, and the resource self-sufficiency strategy is progressing steadily. 26H1 achieved net profit of 2.3 billion yuan to mother, turning a year-on-year loss into a profit. On a quarterly basis, 26Q1/Q2 achieved net profit of 969/1,323 million yuan, respectively, and 26Q2 net profit to mother turned a year-on-year loss to profit, +37% month-on-month. The company previously predicted 26H1 net profit of 2.2 to 2.4 billion yuan. The actual value fell below the median forecast level, which was in line with previous expectations. The year-on-year improvement in 2026H1's performance was mainly due to a sharp rise in the volume and price of the lithium battery materials business. Sichuan Tianhua plans to add 60,000 tons of electricity and hydrogen production capacity, and the resource self-sufficiency strategy is progressing steadily. As lithium prices remain high, the company's profit expectations for 2026 were raised. It is estimated that in 2026-2028, the company's net profit to mother will be 43/586.8 billion yuan, PE13/9/8x, maintaining a “buy” rating.

According to the Guosheng Securities Research Report, the volume and price of Tianhua Xinneng's lithium salt business have risen sharply, and the resource self-sufficiency strategy is progressing steadily. 26H1 achieved net profit of 2.3 billion yuan to mother, turning a year-on-year loss into a profit. On a quarterly basis, 26Q1/Q2 achieved net profit of 969/1,323 million yuan, respectively, and 26Q2 net profit to mother turned a year-on-year loss to profit, +37% month-on-month. The company previously predicted 26H1 net profit of 2.2 to 2.4 billion yuan. The actual value fell below the median forecast level, which was in line with previous expectations. The year-on-year improvement in 2026H1's performance was mainly due to a sharp rise in the volume and price of the lithium battery materials business. Sichuan Tianhua plans to add 60,000 tons of electricity and hydrogen production capacity, and the resource self-sufficiency strategy is progressing steadily. As lithium prices remain high, the company's profit expectations for 2026 were raised. It is estimated that in 2026-2028, the company's net profit to mother will be 43/586.8 billion yuan, PE13/9/8x, maintaining a “buy” rating.