EASPRING(300073)2025-04-01 11:42Financial Performance - In 2024, the company achieved revenue of 7.593 billion CNY and a net profit of 472 million CNY, despite facing challenges in the lithium battery industry [3] - The company's positive performance compared to peers indicates strong resilience in profitability [3] Product Development and Sales - The company’s cathode material shipments exceeded 100,000 tons in 2024, marking a year-on-year increase of 60.53% [3] - The phosphate (manganese) lithium business saw significant growth, with monthly shipments nearing 10,000 tons, establishing the company as a strategic supplier for major domestic battery manufacturers [3] - Solid-state lithium battery materials achieved nearly 1,000 tons in shipments in 2024, with multiple products gaining recognition from leading battery manufacturers [5][15] Market Position and Client Development - The company has established deep partnerships with major lithium battery players such as LG and SK, enhancing its global market share [3][14] - The company’s high-nickel and ultra-high-nickel products are widely supplied to renowned battery manufacturers and high-end electric vehicle markets, becoming a primary supplier for some clients [8][9] Production Capacity Expansion - The company is advancing its European new materials industrial base project, which is set to enter the construction phase in 2025, aiming to establish a high-end production base overseas [4] - The company plans to expand its phosphate (manganese) lithium production capacity to 120,000 tons, supporting future business growth and market share expansion [4] Strategic Response to Market Trends - The company is actively addressing the rising prices of cobalt raw materials by optimizing procurement costs and establishing long-term agreements with suppliers [13] - The company is positioned to leverage its technological advancements and client development strategies to enhance competitiveness and navigate industry cycles [15]