Fuxiang Shares Forecasts 658%-785% Profit Surge on Lithium Battery Additive Boom
Fuxiang Co., Ltd. (300497.SZ) forecast net profit of 350-430 million yuan for the first three quarters of 2026, a 658%-785% year-on-year increase, reversing four consecutive years of losses totaling nearly 670 million yuan. The turnaround is driven by surging prices and volumes for lithium battery electrolyte additives VC and FEC, with VC prices rebounding from 110,000 yuan/ton in late 2025 to 235,000 yuan/ton by September 2026. Demand is boosted by China's new battery safety standard effective July 2026 and booming energy storage production.
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Lithium Battery Additive Cycle Reversal: Fushun Stock Turns Profitable After Four Years of Losses
Fushun Co., Ltd. (300497.SZ), a Chinese lithium battery additive and pharmaceutical manufacturer, reported a dramatic turnaround in its 2026 first three quarters, forecasting net profit of 350-430 million yuan, a 658-785% year-on-year increase. This follows cumulative losses of nearly 670 million yuan from 2022 to 2025. The reversal is attributed to a surge in prices and volumes for lithium battery electrolyte additives, particularly VC (vinylene carbonate) and FEC (fluoroethylene carbonate). VC prices rebounded from a low of 110,000 yuan/ton in late 2025 to 235,000 yuan/ton by September 2026, driven by two demand factors: China's new mandatory safety standard for power batteries (effective July 2026) requiring higher VC content to prevent thermal runaway, and booming energy storage battery production. Supply remains tight due to hazardous chemical production constraints, long lead times for new capacity, and low industry inventories. Analysts at CITIC Construction Investment forecast tight supply could persist into the first half of 2027. Fushun's capacity utilization is at 98.41%, leaving little room for demand fluctuations. The company's pharmaceutical segment is slowly recovering, while its microbial protein business (Venafii Fusarium) has received regulatory approval but contributes minimal revenue so far.
Lithium Battery Additive Cycle Reversal: Fushun Stock Turns Profitable After Four Years of Losses
Fushun Stock (300497.SZ) reported a projected net profit of 350-430 million yuan for the first three quarters of 2026, reversing cumulative losses of nearly 670 million yuan from 2022 to 2025. The turnaround is driven by a surge in lithium battery electrolyte additive prices and volumes, particularly VC (vinylene carbonate) and FEC (fluoroethylene carbonate). VC prices rebounded from 110,000 yuan/ton in late 2025 to 235,000 yuan/ton by September 2026, following industry capacity consolidation. Demand is boosted by China's new battery safety standard effective July 2026, requiring higher VC content, and booming energy storage battery production. Supply remains tight due to hazardous chemical production constraints, long lead times for new capacity, and low inventories. Fushun's additive capacity utilization hit 98.41%, limiting flexibility. The company plans a 700 million yuan fundraising for a 20,000-ton FEC project. Its pharmaceutical segment is slowly recovering, while its microbial protein business (Weiran Protein) has received regulatory approval but contributes minimal revenue. Analysts warn that rapid capacity expansion could pressure future earnings.
Lithium Battery Additive Cycle Reversal: Fuxiang Turns Profitable After Four Years of Losses
Fuxiang Co., Ltd. (300497.SZ), a Chinese manufacturer of pharmaceutical and lithium battery additives, reported a dramatic turnaround in its 2026 first three quarters, forecasting a net profit of 3.5 to 4.3 billion yuan, a 658% to 785% increase year-over-year. This follows four consecutive years of losses totaling nearly 6.7 billion yuan from 2022 to 2025. The reversal is attributed to a surge in both price and volume for its lithium battery electrolyte additives, primarily VC (vinylene carbonate) and FEC (fluoroethylene carbonate). The price of VC rebounded from a low of 11万元/ton in late 2025 to 23.5万元/ton by September 2026, driven by new safety standards for power batteries and booming demand from the energy storage sector. Analysts at CITIC Construction Investment forecast that supply tightness for VC will persist into the first half of 2027. However, the article notes that the company's high capacity utilization rate leaves little room for demand fluctuations, and future industry capacity expansion could pressure performance. The company's pharmaceutical segment is slowly recovering, while its microbial protein business remains in early commercialization stages.
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Fuxiang Plans VC and FEC Expansion, Strengthens Ties with Top Electrolyte Firms
Fuxiang Co., Ltd. (富祥股份) announced on September 21 that after expanding its FEC (fluoroethylene carbonate) project, it will achieve a balanced dual-core product layout of VC (vinylene carbonate) and FEC, lowering FEC production costs and improving profitability. The company has stable cooperation with leading electrolyte manufacturers such as Tinci Materials and Capchem, and has passed BYD's certification to supply products. New capacity is expected to quickly meet downstream demand for high-energy-density electrolytes used in silicon-carbon anodes and high-nickel NCM cathodes, strengthening long-term customer ties. As of September 20, data from Baiyin Feiwei shows VC prices at 235,000 yuan/ton and FEC at 84,000 yuan/ton. According to a forecast by Zhuoshi Consulting, the global lithium battery electrolyte additive market is expected to grow from 135,400 tons in 2025 to 391,500 tons by 2030, a CAGR of 23.66%, with FEC demand rising as high-energy-density batteries gain share. Separately, the company's Weiran® protein products have launched in supermarkets in Jingdezhen, Jiangxi, and on JD.com and Douyin.
Read sourceFuxiang Shares Forecasts 658%-785% Profit Surge in First Three Quarters of 2026 on Electrolyte Additive Sales
Fuxiang Co., Ltd. (Fuxiang Shares) announced during an institutional survey that it expects net profit attributable to shareholders for the first three quarters of 2026 to be between 350 million and 430 million yuan, a year-on-year increase of 658% to 785%. The third-quarter net profit is projected at 173.06 million to 253.06 million yuan, up 50% to 119% from the second quarter. The company attributes the sharp turnaround and profit surge primarily to a simultaneous increase in sales volume and prices of its lithium battery electrolyte additives, which have become the core growth engine. According to Baichuan Yingfu data, as of September 20, 2026, the price of electrolyte additive VC was 235,000 yuan/ton, and FEC was 84,000 yuan/ton. Fuxiang is expanding FEC production capacity to meet growing demand from energy storage, power batteries, and emerging applications. Citing a CIConsulting forecast, the global lithium battery electrolyte additive market is expected to grow from 135,400 tons in 2025 to 391,500 tons by 2030, a CAGR of 23.66%. Galaxy Securities estimates FEC demand growth will reach 29.5% in 2026, driven by fast-charging, silicon-based anodes, and solid-state battery technologies. The company has established partnerships with Tianqi Materials, Xinzhoubang, and BYD, and aims to strengthen its market leadership through dual VC and FEC product lines and scale-driven cost reductions.