CNGR Advanced Material (300919) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥21.32 billion, up 6.16% year-over-year; net profit attributable to shareholders was ¥732.77 million, down 15.20% year-over-year.

• Core business covers R&D, production, and sales of battery cathode materials and precursors, with a diversified product matrix in nickel, cobalt, phosphate, and sodium systems.

• Overseas revenue accounted for 50.58% of total, with major clients including global battery and EV leaders.

• Company continues to expand global manufacturing and resource integration, with significant investments in Indonesia, Korea, and Morocco.

• Maintains leading market share in core products, with total product sales volume up 33.91% year-over-year to 188,000 tons.

Financial highlights

• Operating income: ¥21.32 billion, up 6.16% year-over-year.

• Net profit attributable to shareholders: ¥732.77 million, down 15.20% year-over-year.

• Net profit excluding non-recurring items: ¥653.49 million, down 14.77% year-over-year.

• Operating cash flow: ¥1.48 billion, up 13.12% year-over-year.

• Basic and diluted EPS: ¥0.79, down 14.13% year-over-year.

• Gross margin for battery materials: 17.34%; for new energy metals: 7.44%.

Outlook and guidance

• Company expects continued growth in high-nickel and high-voltage cathode materials, driven by global EV and energy storage demand.

• Ongoing expansion of overseas projects and vertical integration to secure supply chain and cost advantages.

• Focus on R&D for next-generation battery materials and recycling technologies.