On October 28th, GEM disclosed its report for the third quarter of 2023. In the first three quarters of 2023, the company achieved a revenue of Yuan 20.228 billion, a net profit attributable to the parent company of Yuan 548 million, and a net operating cash flow of Yuan 537 million after deducting non net profit of Yuan 463 million, a significant increase of 147.74% year-on-year.
In terms of ternary precursor business, from January to September 2023, GEM shipped 120,000 tons, a year-on-year increase of 14.5%, and its shipment volume ranked top two in the global market. In terms of power battery recycling business, from January to September 2023, GEM has accumulated nearly 20,000 tons (2.10 GWh) of battery recycling, a year-on-year increase of 54%, and sales revenue of Yuan 642 million, a year-on-year increase of 39%.
Edited by Cassie Li, lixiangying@mysteel.com