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27 Apr 2026On the evening of April 23, KEDA Industrial Group (600499.SH) officially released its Q1 2026 report. The data shows that in the first quarter of 2026, KEDA Industrial Group achieved revenue of RMB 4.727 billion, up 25.48% year-on-year; net profit attributable to shareholders of the listed company reached RMB 587 million, up 69.10%; and net cash flow from operating activities surged to RMB 870 million, up 852.07% year-on-year. The company delivered a strong start to the year, achieving a solid “opening win”.
Robust Building Materials Operations Drive Scale to New Heights
Benefiting from higher sales volume and prices for ceramic tiles and expanded glass production capacity, KEDA Industrial Group’s building materials business saw substantial revenue growth and significantly improved profitability in Q1.
During the reporting period, all of KEDA Industrial Group's building materials projects progressed steadily as planned. In ceramics, the Phase II projects in Côte d'ivoire and Kisumu, Kenya, as well as the Guinea ceramics project, are advancing smoothly and are expected to begin operations between 2026 and 2027. In glass, the Peru project in South America is proceeding on schedule and is expected to start production this year, while the Ghana glass project officially commenced during the period and is expected to begin operations in 2027.
Once all these ongoing projects reach full capacity, KEDA Industrial Group will achieve an annual output of approximately 250 million square meters of construction ceramics, 800,000 tons of glass, and 2.6 million sanitary ware units, providing strong growth momentum for the company's high-quality development.
Accelerating Global Service Network: Ceramic Machinery Orders Stabilize and Rebound
In Q1 2026, despite multiple challenges including industry cycle adjustments, changing external trade conditions, and geopolitical tensions, KEDA Industrial Group’s ceramic machinery business faced temporary pressure, with a slight compression in profit margins. However, thanks to the results of its globalization strategy and ongoing optimization of service networks, the company saw a certain increase in ceramic machinery orders compared with the same period last year.
During the reporting period, KEDA Industrial Group focused on building globalization capabilities as a core strategy, consolidating its positions in existing key markets while accelerating expansion into high-end markets. Specifically, KEDA Industrial Group’s ceramic machinery business saw a year-on-year rebound in orders in the Chinese market, maintained steady growth in Southeast Asia, Turkey, and other regions, and achieved significant progress in North America. Meanwhile, KEDA Industrial Group continued to expand in the spare parts & consumables sector, achieving steady growth in both revenue and orders, with the ink business also posting solid gains.
Lithium Battery Materials See Growth in Both Production and Sales, New Energy Machinery Orders Climb
Benefiting from a gradual recovery in the anode materials market and the release of new capacity, KEDA Industrial Group’s lithium battery materials achieved strong growth in both production and sales in Q1, with overall profitability improving. The company also advanced capacity expansion and production line optimization projects. Once completed, the anode materials business will have a total artificial graphite capacity of 180,000 tons per year. In the new energy machinery sector, significant international orders were secured, resulting in substantial order growth compared with Q1 last year.
In strategic investments, Lanke Lithium Industry benefited from higher lithium carbonate prices and sales volume, achieving revenue of RMB 1.113 billion and net profit of RMB 582 million, contributing RMB 254 million to the company’s net profit attributable to shareholders of the listed company.
(Securities Times)
