CALB (03931.HK) Reports Strong Growth in 1H 2026 Results, with Net Profit Increasing Significantly Year-on-Year by 102.2%

HONG KONG, August 28, 2026 - (ACN Newswire) - CALB Group Co., Ltd. (“CALB” or the “Company”, stock code: 3931.HK) announced its unaudited condensed consolidated interim results for the six months ended June 30, 2026 (the “Reporting Period”). During the Reporting Period, the Company recorded revenue of approximately RMB27.08 billion, representing a year-on-year increase of 65.0%, and net profit of approximately RMB1.52 billion, representing a year-on-year increase of 102.2%. The strong growth in the Company’s results was mainly attributable to the expansion of new customers and application scenarios, as well as the continued ramp-up of new products across passenger vehicles, commercial vehicles and energy storage, driving sustained growth in business scale.

According to statistics from leading industry organizations, global power battery installations reached 608.5GWh in the first half of 2026, representing a year-on-year increase of 20%, while global energy storage cell shipments reached 467.84GWh, up 94.76% year-on-year, reflecting the continued rapid growth of the global new energy industry.

In recent years, CALB has continued to advance its two core businesses of power batteries and energy storage, while expanding into application scenarios including new energy vessels, low-altitude mobility and robotics. With continued innovation in technologies and products and further expansion into domestic and overseas markets, the Company’s business portfolio has continued to broaden.

Broad Coverage of Mainstream Automakers, with Global Power Battery Market Share Continuing to Rise

In the passenger vehicle segment, CALB’s customer portfolio has continued to optimize, with broad coverage of mainstream automakers and steady progress in its premium and internationalization strategies. The Company has become a strategic partner in platform-based battery systems including Huawei’s Giant Whale Battery and Xiaomi’s Dragon Armor Battery, providing core power battery solutions for a range of vehicle models and series, including the LUXEED R7, LUXEED RX, SAIC Z7, and Xiaomi SkyNomad N70 Max and N90 Max, covering both LFP and ternary battery chemistries. CALB’s “UP super-charged” batteries, with their strong and stable fast-charging performance, are exclusively supplied for flagship models including the XPeng GX and G9L, and across the XPeng MONA lineup.

During the reporting period, CALB provided stable power battery supplies for customers including XPeng, Huawei, GAC and Leapmotor, while supporting global vehicle models from customers including Toyota and Mazda. New overseas platform projects with Volkswagen and Hyundai are progressing rapidly, and the power battery plant jointly established with Leapmotor is expected to commence operations soon. CALB’s passenger vehicle power battery supply volume continued to grow, with overseas installations increasing by 84% year-on-year, reflecting an accelerated global expansion.

In the commercial vehicle segment, CALB’s battery shipments increased by 225% year-on-year in the first half of 2026, with 206 newly announced vehicle models. The Company’s market share in both China and globally continued to increase, while cooperation with major heavy- and light-duty commercial vehicle customers including Sinotruk, XCMG, SANY, SHACMAN, Chery, Geely and Dongfengcontinued to expand, driving further market penetration.

CALB’s commercial vehicle business is evolving from battery product sales toward full life-cycle value operations in the new energy commercial vehicle sector. Heavy-duty commercial applications, including heavy trucks and construction machinery, have become key components of the Company’s commercial vehicle business. An integrated “vehicle-battery-charging station-cloud” ecosystem for commercial vehicle applications is gradually taking shape, while business models including battery banking and financial leasing have been successfully piloted. Demonstration projects in green mines and zero-carbon ports have also received strong recognition from customers.

Utility-Scale Energy Storage Maintains Leading Position, with Overseas Business Gaining Momentum

CALB’s ESS business also maintained healthy growth momentum. In the first half of 2026, the Company ranked among the global top four in utility-scale energy storage, with steadily increasing shipments and continued growth in overseas installations. In the power energy storage segment, cooperation with major energy companies including SPIC, Huadian, Datang and China Three Gorges Renewables continued to progress. CALB also worked with leading system integrators such as Sungrow and Huawei, as well as supply chain partners and end users, to advance technological, product and application innovations across multiple scenarios, reduce operating costs of power systems and improve overall returns.In the zero-carbon ecosystem, the Company has actively explored new business models and made key progress in emerging strategic areas including direct green power supply and zero-carbon cities. Building on these initiatives, CALB is also advancing the development of source-grid-load-storage integration and virtual power plant platforms, while exploring pathways toward city-level zero-carbon development.

Meanwhile, CALB has actively expanded its residential and commercial and industrial energy storage businesses, securing project nominations from multiple leading customers and achieving stable deliveries, with market performance ranking among the industry leaders. In emerging areas such as AIDC, the Company has been actively exploring energy storage technologies and product solutions, and has completed the development of 6C high-rate energy storage systems to address the backup power requirements of AIDC applications.To advance its internationalization strategy and further enhance profitability, CALB has accelerated its overseas expansion and achieved positive progress. During the reporting period, the Company’s next-generation 600Ah+ ESS cells entered mass production at scale to meet overseas application requirements. Its liquid-cooled containerized energy storage systems have been deployed and delivered in high-value markets including Europe, Japan and the United States. Its residential and commercial and industrial energy storage products now cover multiple overseas markets, with cooperation established with customers in more than ten countries and regions.

Expanding into Multiple Emerging Scenarios, with AI Driving a New Wave of Innovation

Beyond the two major application areas of new energy vehicles and energy storage, CALB has actively expanded into emerging application scenarios based on its development philosophy of “shared technology platforms and shared product platforms.”

In the new energy vessel sector, the Company has obtained certifications from major international classification societies including DNV, ABS, BV, RINA and CCS, and projects including China’s first CCS-certified carbon-fiber electric official vessel have successfully commenced operations. In the low-altitude mobility sector, CALB’s high-energy cylindrical cells achieve an energy density of up to 310Wh/kg and have secured exclusive nomination for customers’ key aircraft models. Its next-generation 360Wh/kg high-nickel, silicon-carbon cylindrical batteries are gradually entering the preparation stage for commercialization. In the robotics market, high-performance battery products are expected to enter mass deliveries, while 10Ah-class all-solid-state batteries are expected to enter their initial stage of commercial application.

Notably, CALB is building new capabilities for AI-driven R&D, manufacturing and operations under its “AI + Energy” strategy. On the R&D side, the Company is exploring the integration of AI with materials science and simulation computing to accelerate breakthroughs in new products. In manufacturing, CALB is integrating AI with industrial big data to drive the evolution of its production lines toward greater intelligence. In operations, the Company is promoting deeper integration of data and intelligent agents to enhance management and decision-making efficiency. By continuously strengthening its capabilities in data, computing power and AI models, CALB is gradually building an intelligent foundation for enterprise operations.

From premium expansion in passenger vehicles, to volume growth and business model innovation in commercial vehicles, and accelerated expansion into global energy storage markets and early positioning in emerging markets, CALB has established a multi-layered and progressively expanding growth profile.Against the backdrop of continued strong momentum in the new energy industry, CALB expects its market share and profitability to enter an accelerated growth phase as its customer mix continues to improve and global delivery capabilities are progressively strengthened, further enhancing its global competitiveness and industry influence.

About CALB

CALB (3931.HK) is a new energy enterprise specializing in the research, production, sales, and market application development of lithium batteries, battery management systems, and related integrated products and lithium battery materials. As Battery Expert, we aim to build a comprehensive energy operation system, to provide complete product solutions and full life-cycle management for the new energy application market, represented by power and energy storage.

Currently, CALB has completed an all-round layout in domestic by setting up industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan. Meanwhile, CALB has set up bases in Europe and ASEAN, vigorously expanding the layout all over the world to become a global leading enterprise with large-scale intelligent manufacturing capabilities.