CNGR Advanced Material (300919) H2 2024 earnings summary

Executive summary

• Achieved revenue of ¥40.22 billion in 2024, up 17.36% year-over-year, with net profit attributable to shareholders of ¥1.47 billion, down 24.64% year-over-year.

• Maintained global leadership in nickel-based precursor and cobalt-based materials, with significant expansion in overseas markets and new production capacity.

• Continued strategic focus on technology diversification, global expansion, digital operations, and ecosystem integration.

Financial highlights

• Revenue: ¥40.22 billion, up 17.36% year-over-year; net profit attributable to shareholders: ¥1.47 billion, down 24.64%.

• Gross margin declined slightly; basic and diluted EPS at ¥1.58, down 24.40% year-over-year.

• Operating cash flow: ¥3.94 billion, down 10.08% year-over-year.

• Total assets: ¥73.02 billion, up 17.43% year-over-year; net assets attributable to shareholders: ¥20.14 billion.

• Overseas revenue accounted for 44.46% of total, with significant growth in new energy metals sales.

Outlook and guidance

• 2025 strategy focuses on optimizing asset structure, increasing capacity utilization, and strengthening market leadership in nickel and phosphate materials.

• Plans to further globalize operations, enhance cost control, and drive innovation in high-nickel, high-voltage, and sodium-ion materials.

• Emphasis on sustainable development, digital transformation, and risk management.