The Zhongyuan Securities Research Report pointed out that Ningde Era's performance exceeded expectations and continued to focus on leading power energy storage companies. Operating profit for the first half of 2026 was $55.665 billion, up 54.80% year on year; net profit to mother was 43.284 billion yuan, up 41.98% year on year; the 2026 mid-term dividend plan is to distribute cash dividends of 14.17 yuan for every 10 shares. The company's performance exceeded expectations, and the increase in performance mainly benefited from industry growth driving the company's power and energy storage battery system sales growth. Among them, the company achieved net profit of 22.56 billion yuan in the second quarter of 2026, up 36.46% year on year and 8.72% month on month. The company is a world-leading new energy technology company, mainly engaged in R&D, production and sales of power batteries, energy storage batteries and battery recycling products. It is expected that the NEV and lithium battery industry will continue to prosper in 2026, and China's NEVs will continue to grow in 2026. However, considering the impact of the reduction in purchase tax relief and the base effect, the NEV sales growth rate is expected to decline in 2026. Combined with industry growth expectations and industrial chain price trends, and the company has ranked first in the world in the power battery field for many years, the company's power battery performance is expected to grow rapidly in 2026. The current valuation is reasonable compared to the industry level. In line with the industry's development prospects and the company's industry position, the company's “gain” investment rating is maintained.

The Zhongyuan Securities Research Report pointed out that Ningde Era's performance exceeded expectations and continued to focus on leading power energy storage companies. Operating profit for the first half of 2026 was $55.665 billion, up 54.80% year on year; net profit to mother was 43.284 billion yuan, up 41.98% year on year; the 2026 mid-term dividend plan is to distribute cash dividends of 14.17 yuan for every 10 shares. The company's performance exceeded expectations, and the increase in performance mainly benefited from industry growth driving the company's power and energy storage battery system sales growth. Among them, the company achieved net profit of 22.56 billion yuan in the second quarter of 2026, up 36.46% year on year and 8.72% month on month. The company is a world-leading new energy technology company, mainly engaged in R&D, production and sales of power batteries, energy storage batteries and battery recycling products. It is expected that the NEV and lithium battery industry will continue to prosper in 2026, and China's NEVs will continue to grow in 2026. However, considering the impact of the reduction in purchase tax relief and the base effect, the NEV sales growth rate is expected to decline in 2026. Combined with industry growth expectations and industrial chain price trends, and the company has ranked first in the world in the power battery field for many years, the company's power battery performance is expected to grow rapidly in 2026. The current valuation is reasonable compared to the industry level. In line with the industry's development prospects and the company's industry position, the company's “gain” investment rating is maintained.