Yifei Laser Co., Ltd. (688646.SH, Wuhan) disclosed its 2026 semi-annual report on August 18, 2026. According to the financial report, H1 revenue surged 56% YoY and the company turned profitable in Q2, offsetting the overall H1 loss; net operating cash flow reached RMB 298 million, significantly improved; contract liabilities stood at RMB 891 million at the end of the reporting period, up 63.43% from the beginning of the period, indicating ample order reserves. The company is a leading domestic provider of intelligent laser equipment and innovative process solutions with technological advantages in cylindrical full-tab battery equipment, and has built a diversified technology portfolio in emerging fields.
Regarding sodium-ion equipment, the semi-annual report discloses: the company continues to deepen process optimization and manufacturing upgrades, tackling production process routes and equipment efficiency, actively promoting deep cooperation with leading industry customers. It has built a complete cylindrical full-tab cell assembly line and module/PACK automatic assembly line system suitable for sodium-ion battery production, covering the full process from cell manufacturing to pack assembly, promoting the sodium-ion industry into a large-scale mass production stage. Its sodium-ion cylindrical cell complete production equipment has achieved large-scale batch supply with continuously improving market recognition and order conversion capability. In addition, the company's solid-state battery cell assembly equipment has completed batch delivery to core customer projects.
It should be clarified that the semi-annual report does not disclose specific order amounts, shipped units, customer lists or revenue share for sodium equipment; 'large-scale batch supply' is the company's own disclosure and has not been independently verified; equipment supply does not equal cell mass production, and actual installation and operation still need verification on downstream production lines.