CNGR Advanced Material (300919) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥20.09 billion, up 16.33% year-over-year; net profit attributable to shareholders was ¥864 million, up 12.48% year-over-year.

• Total net profit was ¥1.16 billion, up 36.92% year-over-year; core product sales exceeded 140,000 tons, up 15%.

• Company accelerated global integration, expanded nickel resource base in Indonesia, and advanced international projects in Korea and Morocco.

• Maintained leading market share in core products and continued to optimize product and customer structure.

Financial highlights

• Operating income: ¥20.09 billion, up 16.33% year-over-year.

• Net profit attributable to shareholders: ¥864 million, up 12.48% year-over-year.

• Net profit after non-recurring items: ¥767 million, up 26.73% year-over-year.

• Operating cash flow: ¥1.30 billion, up 42.19% year-over-year.

• Basic and diluted EPS: ¥0.92.

• Total assets: ¥68.16 billion, up 9.61% from year-end 2023.

Outlook and guidance

• Company expects continued growth in global new energy vehicle and battery demand, supporting upstream material sales.

• Ongoing expansion of overseas production and resource integration to enhance supply chain resilience and profitability.

• Focus on R&D and product innovation to maintain technological leadership and cost competitiveness.