Chinese battery manufacturer Eve Energy expects its profit to more than double in the first half of 2026, driven by strong revenue growth across its battery businesses and continued expansion in both electric vehicle and energy storage markets.
The company released a preliminary earnings forecast on Monday, projecting significant improvements in profitability despite ongoing cost pressures across global battery supply chains.
Profit expected to jump more than 100%
Eve Energy expects net profit attributable to shareholders for the first half of 2026 to reach between 3.13 billion yuan ($463 million) and 3.37 billion yuan.
The forecast represents year-on-year growth of between 95% and 110%.
Excluding non-recurring items, the company expects net profit to reach between 2.43 billion yuan and 2.60 billion yuan, reflecting annual growth of 110% to 125%.
Second-quarter earnings continue to accelerate
The company reported first-quarter net profit of 1.45 billion yuan earlier this year.
Based on the latest guidance, second-quarter profit is estimated at between 1.68 billion yuan and 1.93 billion yuan, representing sequential growth of approximately 16% to 33%.
The performance indicates continued momentum across the company’s core battery businesses.
Revenue growth drives performance
According to Eve Energy, the earnings increase was primarily supported by a sharp rise in revenue.
The company expects first-half revenue to increase by approximately 60% compared with the same period last year.
Management attributed the growth to continued product upgrades, service improvements and manufacturing process optimization across its operations.
The company said these initiatives helped strengthen competitiveness while supporting higher sales volumes.
Managing rising supply-chain costs
Despite ongoing cost inflation across the battery sector, Eve Energy said it implemented several measures to protect profitability.
The company cited supply-chain diversification, strategic procurement initiatives and the use of financial instruments to reduce the impact of rising raw material and component costs.
These actions helped stabilize margins and support earnings growth despite a challenging procurement environment.
Power and storage batteries remain key growth drivers
Eve Energy operates across three major battery segments: power batteries, energy storage batteries and consumer batteries.
Power batteries and energy storage batteries are currently the company’s largest businesses, with each contributing roughly 40% of total revenue during 2025.
Growing global demand for electric vehicles and utility-scale energy storage systems continues to support expansion in both segments.
Battery installations continue to rise
According to industry data compiled by CnEVPost, Eve Energy’s cumulative power battery installations reached 12.35 GWh between January and May 2026.
The figure represents a year-on-year increase of 27.58%.
In May alone, the company recorded power battery installations of 3.23 GWh, up approximately 55% compared with the same month a year earlier.
The strong installation growth highlights Eve Energy’s increasing presence in China’s highly competitive battery market.
Benefiting from EV and energy storage expansion
As global demand for electric vehicles and battery energy storage systems continues to increase, Chinese battery manufacturers are expanding production capacity and strengthening their international presence.
Eve Energy has been actively pursuing overseas opportunities alongside its domestic growth strategy. The company recently secured a large-scale energy storage order in India, reflecting broader efforts by Chinese battery suppliers to expand internationally.
With revenue growth accelerating and profitability improving, Eve Energy appears well positioned to benefit from continued growth in both the electric mobility and energy storage sectors during the remainder of 2026.
