Up 108.70% at most! Demei Chemical's net profit approaches 100 million in the first half of 2026

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On July 8, Demei Chemical (002054) released its semi-annual performance forecast. The company's profitability for the first half of the year showed a significant year-on-year improvement, with both net profit attributable to shareholders and net profit after deducting non-recurring gains and losses achieving high growth of more than double.

The forecast shows that the company expects to achieve a net profit attributable to shareholders of 95 million to 100 million RMB in the first half of 2026, a year-on-year increase of 98.26% to 108.70%; net profit after deducting non-recurring gains and losses is expected to be 88.35 million to 93.35 million RMB, a significant year-on-year increase of 117.66% to 129.98%.

The core reasons to the high performance development are driven by a dual logic of a low base + recovery in sector prosperity:

Low base last year: In the first half of 2025, the company provisioned to an impairment loss of 30.06 million RMB on prolonged equity investments in associated companies, which suppressed profits to the period and created a base to high year-on-year development in 2026;

Significant recovery in profitability of core business: In the first half of 2026, the petrochemical market warmed up. Driven by the external ecological stability, product price spreads expanded significantly, and the company's profitability in its core chemical segment improved substantially.

Overall, after excluding the impact of previous impairments, the resilience of the company's core chemical business profitability is fully evident. The recovery in sector price spreads has driven a substantive warming of the company's performance.

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