万华化学在2026年上半年交出强劲成绩单，集团营业收入达1193.16亿元、归母净利润100.63亿元，分别同比增长31.26%和64.35%1。其中，电池材料业务取得突破性进展——子公司万华化学集团电池科技有限公司首次实现半年度盈利，营收96.06亿元、净利润2.19亿元1。这标志着公司在电池材料赛道上的战略投资逐步走向成熟。
万华化学进入电池材料领域的起点相对较晚。2020年4月，公司以1.02亿元收购烟台卓能锂电池有限公司，正式切入这一赛道1。然而在2025年全年，电池科技子公司营收虽已达85.62亿元，但仍处于亏损状态1。短短半年时间跨越从亏损到盈利，体现了业务增速的加快。这一转变恰逢中国新能源汽车产业的成长期，2020年新能源汽车年销量为136.7万辆、在新车中的渗透率为5.4%1，而其后数年产业规模大幅扩张，为电池材料供应商创造了市场空间。
万华化学在传统化工领域的领先地位为其进入新兴赛道奠定了基础。2014年，公司年产60万吨MDI的一体化装置成功投产，总产能达204万吨，成为全球最大MDI供应商1。目前其MDI市占率超过三成，维持全球第一的领先优势1。这种在高端产能市场中的竞争经验和技术积累，正驱动公司在电池材料等新兴领域的战略扩张。
Wanhua Chemical delivered strong financial results for the first half of 2026, with operating revenue reaching 119.316 billion yuan and net profit attributable to parent company shareholders of 100.63 billion yuan, representing year-on-year growth of 31.26% and 64.35% respectively 1. The company's battery technology subsidiary, Wanhua Chemical Group Battery Technology Co., Ltd., achieved a milestone by posting its first-ever semi-annual profit, generating 96.06 billion yuan in revenue and 2.19 billion yuan in net profit during the period 1.
The battery materials division marks a significant expansion of Wanhua Chemical's portfolio, tracing back to April 2020 when the company acquired Yantai Zhuoneng Lithium Battery Co., Ltd. for 102 million yuan to enter the battery materials sector 1. This acquisition has since grown into a business unit approaching 100 billion yuan in annual scale, though the subsidiary recorded 85.62 billion yuan in revenue for the full year 2025 while still operating at a loss 1. The turnaround to profitability in the first half of 2026 reflects the company's ability to capitalize on the expanding electric vehicle market and underscore its strategic positioning in a segment characterized by tight high-end production capacity.
Wanhua Chemical's expansion into battery materials complements its established dominance in polyurethane production, where the company commands over 30 percent market share in MDI globally and maintains the leading position worldwide 1.
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