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CNGR’s profit expected to increase by 30% in first three quarters

By | nxiang.net| Updated:  Oct 25,2023 L M S
According to CNGR Advanced Materials Co., Ltd., it’s expected that the net profit attributable to the parent company in the first three quarters will be 1.33 billion yuan to 1.43 billion yuan, a year-on-year increase of 22.61% to 31.83%. Notably, in the third quarter, it is expected to achieve a year-on-year increase of 32.05% to 55.63% in net profit attributable to the parent company.

Technological innovation provides an important guarantee for the sustainable development of CNGR.

As a technology-based enterprise driven primarily by technology R&D, CNGR has continued to strengthen its investment in R&D to create an innovation system of “multiple materials plus multiple technologies”.

From 2020 to the end of June this year, the company invested a total of 2.42 billion yuan in R&D, with over 1,000 scientific researchers, ranking among the top in the industry.

Based on market trends and customer demands, CNGR is committed to creating diversified, customized, high-speed development and mass production technology service capabilities and industrial application capabilities.

It has now achieved full coverage of four major material systems, namely nickel, cobalt, phosphorus, and sodium. These have achieved large-scale production and have been applied in fields such as global smartphone terminals, new energy vehicles, and energy storage.

Ternary precursors and cobalt tetroxide, as the company’s core products, have consistently ranked first in the world in terms of shipment volume for many years. Phosphorus series products and sodium series products have also been put into production and steadily produced in large quantities.

Especially in September of this year, the CNGR Global Science and Technology Innovation Center settled in Changsha, which is dedicated to creating a cradle of global new energy material innovation.

It is planned to make a new-type science and technology innovation platform that integrates the “CNGR Global R&D Headquarters”, “CNGR Global Equipment R&D Center”, and “CNGR Global Experimental Center” based on the advantages of research, talent, and industry chains in Hunan so as to assist Changsha in building a global R&D center city.

“This project will provide strong technical support for CNGR to become a leading global new materials science company by building a research and innovation platform centered on new energy materials, new functional materials, and high-end equipment,” said Yuan Guohe, vice president of the Research Institute of Hunan CNGR New Energy Technology Co., Ltd.

In addition to steady growth of domestic business, CNGR continues to expand its overseas industrial business and better serve the global market.
So far, CNGR has established four major industrial bases of over 66.67 hectares in Ningxiang, Tongren, Qinzhou, and Kaiyang in China.

Overseas, the company has built four major raw material production bases in Morowali, Weda Bay, South Kalimantan, and North Morowali, Indonesia. The construction of industrial bases in South Korea, Morocco, Finland, and other regions is in progress.

Through global industrial layout, CNGR is striving to boost its international competitiveness around global integration capabilities, global manufacturing capabilities, and global service capabilities, in an effort to better serve global customers and meet the growing market demand overseas.