Multiple A-share Companies Expect Significant Earnings Growth, Storage, Lithium Ore, Non-ferrous Metals Headliners Shine 多家A股公司预计业绩大增，存储、锂矿、有色等头部企业表现亮眼

Summary

The 2026 semi-annual reports of A-shares show explosive performance in the memory, upstream lithium battery, and non-ferrous metals sectors, with net profits for some enterprises increasing by over ten times year-on-year.
Surging demand for artificial intelligence is driving the construction of internet data centers, leading to a simultaneous increase in the price and demand for enterprise-level memory chips, maintaining high industry prosperity.
The fundamental recovery of the lithium battery industry has been ongoing since the second half of 2025, with upstream mining and lithium salt segments benefiting first; tungsten concentrate prices surged by over 350% year-on-year, becoming a highlight.
Dual demand from the new energy and AI industries has driven up prices for non-ferrous metals such as copper, aluminum, and rare earths, allowing related listed companies to significantly realize dividends in their performance.

Deep Analysis

TL;DR

• The 2026 semi-annual reports of A-shares show explosive performance in the memory, upstream lithium battery, and non-ferrous metals sectors, with net profits for some enterprises increasing by over ten times year-on-year.
• Surging demand for artificial intelligence is driving the construction of internet data centers, leading to a simultaneous increase in the price and demand for enterprise-level memory chips, maintaining high industry prosperity.
• The fundamental recovery of the lithium battery industry has been ongoing since the second half of 2025, with upstream mining and lithium salt segments benefiting first; tungsten concentrate prices surged by over 350% year-on-year, becoming a highlight.
• Dual demand from the new energy and AI industries has driven up prices for non-ferrous metals such as copper, aluminum, and rare earths, allowing related listed companies to significantly realize dividends in their performance.

Why It Is Worth Reading

This article reveals structural investment opportunities arising from the resonance between the expansion of AI infrastructure and traditional resource cycles, clarifying the actual pull effect of AI on the real industrial chain (especially memory and non-ferrous metals). For investors focusing on the intersection of technology and resources, it provides key data support regarding industry prosperity inflection points and specific beneficiary targets.

Technical Analysis

• Supply and Demand Mechanism of Memory Chips: AI computing power demand directly translates into high-frequency procurement of enterprise-level storage products for internet data centers, causing memory chip prices to rise steadily compared to the same period last year, forming a technical boom characterized by increases in both volume and price.
• Recovery Path of the Lithium Battery Industry Chain: The industry ended inventory destocking and entered a fundamental recovery phase starting from the second half of 2025. The technical focus shifted from capacity expansion to cost control and supply stability at the upstream resource end. Due to supply rigidity, the mining and lithium salt segments reflected performance elasticity first.
• Price Driver Model for Non-Ferrous Metals: Prices of tungsten, copper, aluminum, rare earths, and other varieties are driven by the "new energy + AI" dual wheels. Tungsten concentrate, as a special metal, saw its price surge by over 350% year-on-year, reflecting exponential growth in demand for specific materials in high-end manufacturing.

Industry Insights

• Verification of AI Spillover Effects: The impact of artificial intelligence has transcended the software layer, profoundly reshaping the pricing logic of upstream hardware (memory) and resources (non-ferrous metals, lithium batteries). Investors should focus on upstream links in the AI industrial chain that possess resource barriers or technological monopolies.
• Signals of Cyclical Reversal: The fundamental recovery of the lithium battery industry indicates that after long-term adjustments, resource assets exhibit extremely high performance elasticity when demand recovers. Upstream resource segments may realize profits earlier than mid-stream manufacturing segments.
• Focus on Niche Tracks: Among broad commodities, small metals like tungsten, constrained by limited supply and rigid demand (used in hard alloys, military applications, etc.), demonstrate stronger price explosion power. This suggests that refined differentiation of the strategic value of different metals is necessary in resource investment.