Zhiyuan Holdings (00990)'s performance surged in the first half of the year to help transform lithium and AI, and will become a strategic direction

The Zhitong Finance App learned that on August 31, Zhiyuan Holdings (00990) announced the 2026 interim results. The company's revenue from continuing operations in the first half of the year was approximately HK$14.964 billion, up about 49% year on year; gross profit of about HK$452 million and operating profit of about HK$395 million, up about 92% and 139% respectively over the same period of the previous year; gross margin for the first half of the year increased to about 3.02%, an increase of about 0.67 percentage points over the same period last year. The growth rate of gross profit and operating profit was higher than the increase in revenue, and the company's profitability improved markedly. In the future outlook section of the interim report, the company also clearly included the lithium value chain and AI infrastructure-related businesses in the future development direction at the same time.

Judging from the revenue structure, the commodity business is still the main operating foundation of Zhiyuan Holdings at present. During the reporting period, the company's distribution, trading and processing business achieved revenue of approximately HK$14.540 billion, up from HK$9.737 billion in the same period last year. Among them, iron ore revenue reached approximately HK$11.969 billion, an increase of about 101% over the previous year, accounting for about 80% of the revenue from continuing operations. Meanwhile, the continuing financial services business recorded revenue of approximately HK$424 million in the first half of the year.

In addition to excellent performance in core financial indicators, the company clearly incorporates the lithium value chain and AI infrastructure-related businesses into the future development direction at the same time. On the one hand, the company actively lays out the lithium value chain and extends upstream to new energy metals. On the other hand, the company sold financial assets, stopped non-core mergers and acquisitions, and concentrated capital and management resources on a new strategic line.

In this interim report, the company officially upgraded statements related to the AI industry as part of its future strategy. Management said that the company will focus on artificial intelligence infrastructure and other related fields for strategic transformation, and has begun planning and implementing related work to support subsequent business growth, and will make timely announcements in accordance with relevant requirements. The company's layout in the AI industry has entered the medium- to long-term observation window and is worth paying attention to.

Overall, Zhiyuan Holdings' revenue in the first half of the year was steady, and profitability was substantially restored, establishing a basic operating market for strategic transformation. By divesting non-core businesses, the company concentrated resources in two major directions: lithium value chain and AI infrastructure. The main line of strategic transformation is already clear. With the gradual implementation of relevant business plans, the company is expected to continue to release transformation dividends and open up space for medium- to long-term growth.