- EVE Energy net profit doubled to RMB3.301B ($491M) H1 2026 as revenue jumped 62.2% to RMB45.691B.
- Energy storage shipments surged 54.9% to 44.46 GWh, lifting EVE to second globally with 10.4% market share.
- Margin expansion driven by full ramp of new capacity and investment income up 263.6%.
On Aug. 19, EVE Energy disclosed its 2026 semi-annual report.
The company reported total revenue of 45.691 billion RMB ($6.79 billion) in the first half, up 62.2% year-on-year; net profit attributable to shareholders surged 105.7% to 3.301 billion RMB ($491 million); and recurring net profit jumped 111.9% to 2.451 billion RMB ($364 million).
The “profit-doubling” results mark EVE Energy’s first semi-annual report since declaring its “100-billion-RMB platform complete” — the company has formally upgraded its strategic positioning to “completion of the 100-billion-RMB platform, with global expansion entering a new cycle of scaled growth.”
Quarterly data showed an accelerating trend. First-quarter revenue reached 20.680 billion RMB ($3.07 billion) with net profit of 1.446 billion RMB ($215 million); second-quarter revenue hit 25.012 billion RMB ($3.72 billion) with net profit of 1.855 billion RMB ($276 million), up 21% and 28% quarter-on-quarter respectively. The 105.7% profit growth significantly outpaced the 62.2% revenue growth, indicating substantial margin expansion.
The company attributed the strong performance to two main factors: first, rapid growth in power and energy storage battery shipments as new production capacity ramped up to full utilization, unlocking economies of scale; second, investment income surging 263.6% year-on-year to 1.183 billion RMB ($176 million).
EVE Energy operates across three main segments: consumer batteries, power batteries, and energy storage batteries.
In the first half, power battery revenue of 17.278 billion RMB ($2.57 billion) remained the largest single segment, followed by energy storage battery revenue of 15.094 billion RMB ($2.24 billion) and consumer battery revenue of 6.411 billion RMB ($953 million), up 69.2%, 53.3% and 26.2% year-on-year respectively. Battery materials revenue reached 6.866 billion RMB ($1.02 billion), surging 140.7%.
In terms of shipment volume, energy storage battery deliveries reached 44.46 GWh, up 54.9% year-on-year, making it the company’s largest business segment; power battery shipments totaled 35.76 GWh, up 66.5%.
The growth pattern has shifted in the first half of 2026, with energy storage batteries leading the charge and power batteries following closely behind.
According to SNE Research, global energy storage battery shipments reached 461.3 GWh in the first half of 2026, with CATL, EVE Energy, and Hithium ranking as the top three globally.
EVE Energy shipped 48 GWh, capturing a 10.4% market share, with shipments up 69% year-on-year — climbing from third place in 2025 to second globally. Its power battery installation volume ranked seventh worldwide, up 51.7%.
Notably, multiple new factories have entered the capacity ramp-up and fulfillment phase. EVE Energy currently operates 11 production bases globally. Its Malaysia plant has begun mass production of consumer batteries, with energy storage projects progressing steadily; the Hungary base is expected to be completed in 2026, dedicated to supplying BMW with large cylindrical batteries.
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