Elong Power Holding Limited Announces First Half 2026 Financial Results

Elong Power (NASDAQ: ELPW) announced H1 2026 results showing net revenue of $2.90 million (up 14,977% YoY) following its divestment of lithium battery manufacturing and pivot to asset-light energy storage system integration. The company reported net income of $20.49 million, primarily driven by a $22.61 million non-operating gain from the battery business disposal. However, continuing operations showed a net loss of $2.11 million with thin 0.3% gross margins. The company raised approximately $20 million in public offerings to fund R&D and global market expansion.