Southwest China Lead Smelter Maintains Equipment, Aims for October Electrolysis Production Restart

[Electric Two-wheeler Enterprise Dynamics] Recently, Aima Technology issued an announcement on its H1 2026 results: operating revenue of 11.44 billion yuan, down 12.21% YoY; net profit attributable to parent company of 665 million yuan, down significantly by 45.15% YoY; net profit attributable to parent company after deducting non-recurring gains/losses of 598 million yuan, plummeting 49.45% YoY. Regarding the substantial decline in H1 results, Aima Technology explained that it was mainly due to the increase in raw material costs of products caused by policy changes in the industry, coupled with sales fluctuations and fixed expense expenditures during the reporting period, which affected the current profit.

[Electric Two-wheeler Enterprise Dynamics] Yesterday, Yadea Holdings (01585.HK) released its unaudited interim results for the six months ended June 30, 2026. During the reporting period, affected by the market adjustment caused by the transition to the new national standard in China's electric two-wheeler industry, the Group's revenue, gross profit, and net profit attributable to parent company declined YoY. The Company achieved operating revenue of 18.236 billion yuan, a decrease of 5% from 19.186 billion yuan in the same period of 2025; achieved gross profit of 3.236 billion yuan, down 14% YoY; and achieved net profit of 1.201 billion yuan, down 27.2% YoY.

[Lead Smelter Dynamics] It is understood that a large primary lead smelter in north China has entered regular maintenance today, with a maintenance period of 45 days, and the daily impact on lead ingot is 300-350 mt.