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China's CNGR Advanced Material nine-month revenue rises on battery material sales

By Reuters News


Overview

  • China battery materials supplier's nine-month revenue rose 45% yr/yr

  • Net profit attributable to shareholders grew 62% for the first nine months

  • Growth driven by higher sales of battery materials and new energy metals


Outlook

  • Company did not provide specific guidance for future quarters or full year in the press release


Result Drivers

  • BATTERY MATERIALS SALES - Co said revenue growth was mainly due to higher sales of battery materials and new energy metals

  • INVENTORY IMPAIRMENT - Co recorded higher asset impairment losses due to inventory depreciation


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

RMB 48.29 bln

9M Net Income Attributable

RMB 1.81 bln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the electrical components & equipment peer group is "buy"

  • Wall Street's median 12-month price target for CNGR Advanced Material Co., Ltd. is HK$45.00, about 176.8% above its October 29 closing price of HK$16.26


Reuters Recommended Reads

  • Oct 29 - BYD's nine-month net income falls 4.2% yr/yr

  • Oct 27 - China's Daqo New Energy Q3 revenue jumps on higher polysilicon sales volume

  • Oct 29 - Geely Automobile nine-month revenue up 13% on exports, product mix


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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