Leading lithium battery manufacturer Eve Energy Co.,Ltd. (300014) has announced a significant projected increase in its performance for the first half of 2026. The company released its preliminary earnings forecast on the evening of June 15, anticipating a net profit attributable to shareholders of between RMB 3.13 billion and RMB 3.371 billion, representing a year-on-year surge of 95.00% to 110.00%. It also expects adjusted net profit, excluding non-recurring items, to range from RMB 2.43 billion to RMB 2.603 billion, marking an increase of 110.00% to 125.00%.
Reasons for the Strong Performance
Eve Energy Co.,Ltd. attributed the substantial forecasted growth primarily to two key factors. Firstly, the company has remained committed to product iteration, service enhancement, and process optimization, successfully capturing market growth opportunities which have driven sustained business expansion, with operating revenue increasing approximately 60% year-on-year. Secondly, proactive forward management, including diversified supply chain arrangements, strategic procurement planning, and the prudent use of financial instruments, has effectively mitigated the impact of raw material cost fluctuations, ensuring the stability of core business profitability.
The company's first-quarter 2026 report showed a net profit attributable to shareholders of RMB 1.446 billion, a year-on-year increase of 31.35%. Based on the half-year forecast, Eve Energy Co.,Ltd. is expected to achieve a second-quarter net profit between RMB 1.684 billion and RMB 1.925 billion, representing a sequential growth of 16.46% to 33.13%, indicating an accelerating trend.
Company Background and Market Position
Founded in 2001 and listed among the first batch on the Shenzhen ChiNext board in 2009, Eve Energy Co.,Ltd. specializes in the research, development, production, and sale of consumer batteries (including lithium primary batteries, small lithium-ion batteries, cylindrical cells), power batteries (for new energy vehicles and their systems), and energy storage batteries. The company is currently a global leader in the energy storage battery sector. Through years of R&D and practical experience, it has pioneered technological innovation, shifting towards a technology platform dominated by the "large prismatic + stacking" route and is the world's first company to mass-produce 600Ah+ large prismatic LFP energy storage batteries.
On May 15 of this year, the company stated on an interactive platform that its energy storage battery business is operating at full capacity with orders exceeding production. Analysis from Guosen Securities notes that Eve Energy Co.,Ltd.'s energy storage batteries are in a state of full production and sales, with large cell capacity rapidly ramping up. In Q1 2026, energy storage battery sales reached 20.38 GWh, a 61% year-on-year increase. According to EV Tank data, the company's energy storage battery shipments consistently rank second globally.
Industry Context and Expansion
The impressive performance of Eve Energy Co.,Ltd. is not an isolated case but reflects a structural transformation underway in the lithium battery industry. Multiple brokerage reports indicate that energy storage is rapidly transitioning from a supporting role to the primary growth engine for the sector. Institutions forecast global energy storage demand growth to reach 50-55% in 2026, surpassing power batteries for the first time as the largest support area for lithium demand.
This year, Eve Energy Co.,Ltd. has been active in capacity expansion and overseas market development. The company guides for full-year 2026 battery shipments exceeding 200 GWh, representing approximately 65% year-on-year growth, with over 40% growth still anticipated for 2027. During the SNEC PV & ES Expo 2026, the company secured cumulative energy storage orders exceeding 67 GWh, securing momentum for future growth.
Regarding upstream lithium carbonate prices, the main lithium carbonate futures contract on the Guangzhou Futures Exchange was quoted at RMB 175,000 per tonne on June 12. This represents a cumulative rebound of approximately 200% from the low of RMB 58,000 per tonne in June 2025. The industry widely believes lithium carbonate has emerged from a deep two-year downturn.
In a recent interview, fund manager Jin Xihan stated that against the backdrop of continuously materializing energy storage demand, the full-year prosperity of the lithium battery sector is expected to exceed expectations. The current supply-demand balance has achieved a phased reversal. From a long-term perspective, the sustainability of profitability ranks battery cell leaders above upstream lithium carbonate, and upstream lithium carbonate above midstream materials. However, with demand continuing to materialize, the mid-to-upstream segments currently exhibit greater potential for profit recovery elasticity.
At the close on June 15, shares of Eve Energy Co.,Ltd. were trading at RMB 58.77 per share, giving the company a total market capitalization of RMB 127.7 billion.
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