Key Macroeconomic Indicators for Base Metal Prices (2017-5-22)

In the first half of 2026, Zhongtian Technology achieved operating revenue of RMB 30.939 billion, up 31.10% year‑on‑year. Net profit attributable to parent shareholders hit RMB 2.387 billion, rising 52.29% year‑on‑year, while non‑recurring‑gain‑adjusted net profit came to RMB 2.212 billion, a year‑on‑year growth of 50.72%.As of July 31, 2026, the company held roughly RMB 33 billion of outstanding orders in its energy‑network segment, of which marine‑series orders accounted for about RMB 11.3 billion. It delivers a full‑chain product portfolio including submarine cables, dynamic cables, umbilical cables, offshore accessories and offshore engineering equipment. According to GWEC forecasts, around 328 GW of new global offshore‑wind installations will be added over the next decade. 4C Offshore projects that Eurasian cross‑border power interconnection will generate demand for over 60 000 km of submarine cables from 2026 to 2040.Synergistic scenarios covering the “six‑network framework” — AI computing power, optical‑fiber communications, offshore wind power, island energy interconnection, submarine data centers and other fields — unlock its second‑phase growth driver.

In the first half of 2026, Tongguan Copper Foil posted operating revenue of RMB 4.021 billion, representing a year‑on‑year increase of 34.16%. Its net profit attributable to parent shareholders reached RMB 214.9 million, surging 514.75% year‑on‑year. Non‑recurring‑gain‑adjusted net profit stood at RMB 207.3 million, jumping 754.21% from the prior‑year period.The company’s core businesses are lithium‑ion battery copper foil and electronic‑circuit copper foil. Its lithium‑battery copper foil covers ultra‑thin specifications including 4.5 μm, 5 μm and 6 μm, which are deployed in power batteries, 3C digital products and energy‑storage systems. High‑precision electronic copper foil products consist of PCB‑grade foils such as HTE foil, RTF foil and HVLP foil.During the reporting period, driven by the ultra‑thinning trend of lithium‑battery copper foil and robust demand for high‑frequency high‑speed AI servers and data centers, the company saw notable recovery in production‑sales volume and profitability. Stable supply of cathode copper from Tongling Nonferrous Metals secures its key raw‑material input.

The Korea Herald reports LS Cable & System booked 2025 sales of KRW 7.59 trillion (US$5.01 billion), up 12.2% YoY, and operating profit KRW 279.8 billion, up 1.9% YoY — both company records. Order backlog reached a record KRW 7.63 trillion at year-end, +22% YoY. Subsidiary LS Eco Energy posted KRW 960.1 billion revenue (+10.5%) and KRW 66.8 billion operating profit (+49.2%); LS Marine Solution revenue jumped 87.4% to KRW 244.2 billion. Management attributes the surge to HVDC systems, subsea cable demand and AI data-centre power investment, raising the 2030 sales target to KRW 10 trillion. The backlog mix confirms HVDC and power cable as the main earnings engine, driving structural copper/aluminium conductor demand through 2028.