Elong Power Holding Limited Announces First Half 2026 Financial Results
Key Highlights
- ➤Net revenue $2.90 million, up 14,977% year over year
- ➤Net income $20.49 million versus $2.66 million prior-year loss
- ➤Continuing-operations net loss widened to $2.11 million
- ➤Gross margin fell to 0.3% from 10.00%
- ➤US$20 million financing completed; lithium battery manufacturing divested
Expert Statements
Xiaodan Liu, Chief Executive Officer of Elong Power Holding Limited
“The first half of 2026 marked a significant change in the Company’s business. We completed the divestment of our lithium battery manufacturing business and recognized a non-operating disposal gain, thereby pivoting to an asset-light energy storage system integration business and concentrating resources on the research and development and market development of energy storage products. Meanwhile, the Company completed an approximately US$20 million public market financing during the first half of 2026, providing solid funding support for energy storage product research and development and market promotion, and laying the foundation for the Company’s global energy storage market expansion. We believe that our asset-light model focused on the energy storage integration business will help drive long-term, sustainable value creation for the Company.”
BEIJING, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Elong Power Holding Limited (Elong Power, NASDAQ: ELPW, together with its subsidiaries and consolidated entities, the “Company”) today announced its unaudited financial results for the first half of fiscal year 2026 ended June 30, 2026 (the “First Half of 2026”). The Company has completed the divestment of its lithium battery manufacturing business, fully pivoted to an asset-light energy storage system integration business, and completed offerings with aggregate gross proceeds of approximately US$20 million, laying a solid funding foundation for its global energy storage market expansion.
●Net revenue was US$2.90 million for the first half of fiscal year 2026, representing a substantial increase of 14,977% from US$19,229 in the same period of the prior year. This growth was primarily attributable to the significant ramp-up in sales of our energy storage system integration equipment and supporting accessories business;
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