ChemX Materials reports annual profit amid strategic pivot

ChemX Materials Limited has reported a net profit after tax of $1,837,812 for the fiscal year ending 30 June 2026, marking a turnaround from a $7,047,676 loss in the previous year. The profit was largely driven by a $2,585,547 gain from discontinued operations following the company’s exit from external administration.

The company is undergoing a strategic pivot, shifting its focus from high-purity alumina technology and mining exploration toward property acquisition and development opportunities. To support this transition, ChemX executed a loan agreement with Ovay Pty Ltd for up to $1,200,000, which is intended for restructuring, property acquisitions, and re-compliance listing.

ChemX securities have remained suspended from trading on the ASX since December 2024. Re-quotation depends on compliance with ASX listing rules and approval of the new business plan, which directors aim to achieve in the second half of 2026.