Wankai New Materials released its 2026 semi-annual report. In the first half, it achieved operating revenue of 9.652 billion yuan, up 17.52% year on year, and net profit attributable to the parent of 562 million yuan, surging 910.09% year on year. The sharp increase in performance mainly benefited from the recovery of industry prosperity, a bottoming-out rebound in processing spreads, and simultaneous increases in both sales volume and unit price of bottle-grade PET, with bottle-grade PET contributing 95.59% of main business revenue. However, the company's financial expenses surged 764% year on year to 210 million yuan, mainly affected by increased borrowings, higher interest income in the prior period, and exchange losses. Overseas strategy made progress: the 300,000-tonne-per-year food-grade PET new material project in Nigeria has officially commenced production, becoming the company's first self-built overseas production base, while the 750,000-tonne polyester bottle flake project in Indonesia is being pushed forward at full speed. The company invested 60.8171 million yuan in research and development in the first half, up 84.80% year on year, and plans not to distribute cash dividends.
Wankai New Materials Co. Ltd.Net profit attributable to parent surged 910% year on year, driven by recovery in industry prosperity and higher sales volume and unit price of bottle-grade PET.
