According to Starting Point Sodium coverage on August 18, Shengquan Group (605589.SH) released its 2026 semi-annual report on August 15, disclosing sodium-ion business progress. The report shows H1 2026 revenue of RMB 6.085 billion, up 13.73% YoY; net profit attributable to shareholders of RMB 447 million, down 10.68% YoY (mainly due to share payment expenses; excluding which, net profit was RMB 529 million, up 4.30% YoY); advanced electronic materials and battery materials achieved revenue of RMB 1.039 billion, up 22.93% YoY, with sales volume of 47,000 tonnes, up 17.21% YoY. The company is a high-tech enterprise centered on biomass manufacturing and chemical new materials, using its proprietary 'Shengquan Biological Solvent Method' biomass refining technology to build the 'straw-biomass carbon-hard carbon' industry chain.
Regarding sodium-ion hard carbon anode business, the semi-annual report discloses: the battery materials segment covers porous carbon, silicon-carbon and hard carbon anode materials; in hard carbon anodes, in H1 2026, as domestic storage projects were deployed on a large scale and rising upstream lithium battery material costs significantly pushed up LFP storage production costs, sodium-ion battery demand from storage and computing-power supporting applications exploded, driving hard carbon anode sales up YoY.
Leveraging its integrated biomass refining industry chain for cost advantages, the company has formed biomass-based and resin-based product lines covering storage and e-bike sodium-ion applications, with production lines in stable batch supply and entering the supply chains of leading cell makers. Previously, in response to investor questions, the company stated it had built a 10,000-ton-scale sodium-ion hard carbon anode production line, with dual biomass refining and resin technology routes, entering the supply chains of leading cell makers and suitable for storage, 3C and other scenarios.
It should be clarified that the semi-annual report does not disclose specific sales volume, revenue amounts or customer lists for hard carbon anodes; 'sales up YoY' and 'entering leading cell maker supply chains' are company disclosures; the 10,000-ton line was previously disclosed via investor interaction platforms, and the H1 report does not update its capacity utilization.