Gasgoo Munich- Gotion High-tech officially released its semi-annual report for the first half of 2026 on August 25. The report showed operating revenue rose 43.22% year-on-year to 27.776 billion yuan, a six-year high. Net profit attributable to shareholders rose 278.05% to 1.386 billion yuan.
Profitability improved. The weighted average return on equity (ROE) rose 3.28 percentage points to 4.68%, while net cash flow from operating activities rose 31.74% to 428 million yuan.
Power batteries remained the main growth driver. Revenue from this segment rose 61.01% year-on-year to 22.597 billion yuan in the first half.
Image Source: Gotion High-tech
Globally, the company's power battery installations reached 28 GWh in the first half — a 43.3% annual increase that secured a 4.6% market share and the fifth spot worldwide, up 0.7 percentage points from last year. Domestically, installations hit 20.75 GWh, giving it a 6.19% share and third place. In the commercial vehicle sector, installations rose 87.29% to 7.66 GWh.
The energy storage business remained in the global first tier, generating 3.689 billion yuan in revenue. Gotion earned S&P Global Commodity Insights' Tier 1 rating for both energy storage cells and systems, alongside BNEF's Tier 1 manufacturer status. Construction began on major global projects: Australia's largest PV-storage DC coupling project, the 281 MW/843 MWh Lower Wonga plant; in Egypt, 1.5 GWh of independent storage projects are underway alongside a planned 3 GWh local battery base; and a strategic partnership with Sany Group secured over 10 GWh in orders.
Growth was driven by domestic and international markets. Domestic revenue rose 40.84% to 18.3 billion yuan, while overseas revenue — including Hong Kong, Macao, and Taiwan — rose 48.06% to 9.476 billion yuan, outpacing the domestic market. With a gross margin of 18.05% versus 14.34% domestically, the overseas business contributed nearly 40% of total gross profit despite accounting for only about 34% of revenue.
R&D investment increased. R&D spending reached 1.558 billion yuan, up 12.8%. The company has filed 14,489 patents to date, including 6,564 invention patents (502 international). Technologically, the Jinshi all-solid-state battery surpassed 400 Wh/kg in energy density; the fifth-generation LFP battery supports up to 12C ultra-fast charging; and the G-Yuan smart battery uses hybrid solid-liquid technology for enhanced safety.
The profit increase was largely due to one-off gains. Non-recurring items totaled 1.279 billion yuan, including 1.14 billion yuan from financial asset valuation changes and disposals, plus 330 million yuan in government subsidies. Excluding these, net profit was 107 million yuan — a 46.71% increase.
