Recently, Pylontech, Desay Battery, Zhiguang Electric, and Far East Shares successively released their first-quarter financial reports for 2026. Driven by the recovery of overseas demand for energy storage and the volume expansion in the domestic market, the industry's economic climate has experienced a rebound. Most enterprises achieved revenue growth, with some turning losses into profits or realizing a substantial year-on-year increase in net profit.
Pylontech
In the first quarter of 2026, Pylontech achieved an operating revenue of 972 million yuan, representing a year-on-year increase of 147.89%. Among this, the net profit attributable to shareholders of the listed company reached 22 million yuan, and the net profit after deducting non-recurring gains and losses was 1 million yuan, both marking a year-on-year turnaround from loss to profit.
Pylontech stated that the significant improvement in performance was primarily due to the continuous recovery of demand in the international energy storage market, coupled with climbing demand in the domestic energy storage and light motive power markets during the reporting period. The company continuously increased its resource allocation in both sales and research and development, driving a significant increase in its revenue scale.
In the first quarter of 2026, the company achieved sales of 1,177 MWh, a year-on-year increase of 193.52%. The sustained and rapid growth in the company's sales volume was mainly attributed to the rapidly growing demand in the European residential and commercial energy storage markets, as well as the smooth expansion into emerging overseas markets such as Southeast Asia and Japan; simultaneously, the domestic energy storage and shared battery swapping business also experienced growth.
Desay Battery
On April 22, Desay Battery released its performance report for the first quarter of 2026.
During the reporting period, the company achieved an operating revenue of 5.008 billion yuan, a year-on-year increase of 14.63%. Within this, the net profit attributable to shareholders of the listed company was 79.9165 million yuan, a year-on-year increase of 64.23%, while the net profit after deducting non-recurring gains and losses stood at 55.4172 million yuan, a year-on-year increase of 74.27%.
Zhiguang Electric
On April 22, Zhiguang Electric issued an announcement disclosing its operating performance for the first quarter of 2026. The report shows that in Q1 2026, the company achieved a total operating revenue of 1.04 billion yuan, a year-on-year increase of 58.28%. Notably, the net profit attributable to shareholders of the listed company was 22.7956 million yuan, representing a year-on-year increase of 161.55% and realizing a turnaround from loss to profit.
Zhiguang Electric stated that the growth in operating revenue was primarily driven by a substantial increase in revenue from its energy storage and cable businesses during this period.
Far East Shares
On April 21, Far East Shares disclosed its first-quarter performance for 2026. In Q1 2026, the company achieved an operating revenue of 5.325 billion yuan, up 9.26% year-on-year; the net profit attributable to the parent company was 96.6284 million yuan, marking a year-on-year increase of 110.36%.
Specifically, in the field of smart battery energy storage, the cylindrical battery cells of Far East Shares secured orders exceeding ten million yuan, totaling 251 million yuan, a year-on-year increase of 80.93%. High-capacity battery cells generated an operating revenue of 130 million yuan, a year-on-year increase of 190.64%, successfully turning losses into profits. Furthermore, the world's highest-capacity 21700-68E cylindrical battery cells have already achieved mass delivery and application.
In the energy storage sector overall, the company achieved an operating revenue of 174 million yuan, representing a year-on-year increase of 289.15%, and reduced its year-on-year losses by 14 million yuan. It also secured orders exceeding ten million yuan, totaling 1.216 billion yuan, surging by 2170.79% year-on-year.
Source：EnergyTrend