On March 30, CNGR Advanced Material Co., Ltd. released its 2025 annual report. The company posted full-year revenue of 48.14 billion yuan, a year-on-year increase of 19.68%, with overseas revenue reaching 24.02 billion yuan, up 34.31%. Net profit attributable to shareholders stood at Yuan 1.567 billion, up 6.84%, while core net profit (excluding non-recurring items) rose 13.10% to Yuan 1.449 billion. As of year-end 2025, net assets totaled Yuan 33.622 billion, up 14.02%, and the debt-to-asset ratio fell 0.82 percentage points. In the fourth quarter alone, revenue grew 47.54% to Yuan 14.842 billion, and net profit attributable surged 217.24% to Yuan 455 million.
On the resource front, CNGR has secured over 600 million wet metric tonnes of lateritic nickel ore in Indonesia through investments, equity participation, and long-term agreements. Leveraging its dual OESBF and RKEF smelting routes, the company has built a robust nickel supply system. Meanwhile, its high-grade phosphate project in Kaiyang, Guizhou, has broken ground, with proven resources of 98.44 million tonnes and an annual mining capacity of 2.8 million tonnes. Its Argentine lithium project boasts over 10 million tonnes of lithium carbonate equivalent, with development progressing steadily, securing low-cost, high-quality mineral sources for long-term growth.
On recycling, CNGR has launched a European recycling hub in partnership with Germany's CRONIMET, opening a global recycling channel. By end-2025, the first batch of imported black mass arrived at its Guizhou facility, where its black mass production line is now running at full capacity. The 10,000-tonne-per-year battery-grade lithium carbonate line has achieved full production and operational targets.
Backed by diversified resource holdings, CNGR continues to ramp up R&D. Cumulative R&D spending from 2020 to 2025 reached Yuan 5.303 billion, including 1.170 billion yuan in 2025 alone, up 5.50% year-on-year. Key technologies such as oxygen-enriched side-blown nickel smelting, high-purity electrolytic nickel-cobalt production, and black mass recycling have been fully optimized.
In new materials, the company's pioneering ultra-high nickel NCM precursor boosts energy density to 230 mAh/g, a 27.8% improvement over 60% nickel-content NCM, reinforcing its technological moat in high and ultra-high nickel segments. Addressing intelligent driving demands for high energy density, long cycle life, and fast charging, CNGR launched its first high-concentration doped and coated medium-nickel high-voltage single-crystal sample, solving industry pain points with low cost, low impedance, and high capacity.
In solid-state battery materials, the latest generation of lithium-rich manganese precursors has passed validation, and the company has built solid-state technology reserves. High-nickel precursors developed in collaboration with leading battery manufacturers have entered mass production, with annual shipments exceeding 100 tons, and are expected to maintain double-digit growth in 2026.
Written by Cora Ji, jiruyan@mysteel.com
On March 30, CNGR Advanced Material Co., Ltd. released its 2025 annual report. The company posted full-year revenue of 48.14 billion yuan, a year-on-year increase of 19.68%, with overseas revenue reaching 24.02 billion yuan, up 34.31%. Net profit attributable to shareholders stood at 1.567 billion yuan, up 6.84%, while core net profit (excluding non-recurring items) rose 13.10% to 1.449 billion yuan. As of year-end 2025, net assets totaled 33.622 billion yuan, up 14.02%, and the debt-to-asset ratio fell 0.82 percentage points. In the fourth quarter alone, revenue grew 47.54% to 14.842 billion yuan, and net profit attributable surged 217.24% to 455 million yuan.
On the resource front, CNGR has secured over 600 million wet metric tons of lateritic nickel ore in Indonesia through investments, equity participation, and long-term agreements. Leveraging its dual OESBF and RKEF smelting routes, the company has built a robust nickel supply system. Meanwhile, its high-grade phosphate project in Kaiyang, Guizhou, has broken ground, with proven resources of 98.44 million tons and an annual mining capacity of 2.8 million tons. Its Argentine lithium project boasts over 10 million tons of lithium carbonate equivalent, with development progressing steadily, securing low-cost, high-quality mineral sources for long-term growth.
On recycling, CNGR has launched a European recycling hub in partnership with Germany's CRONIMET, opening a global recycling channel. By end-2025, the first batch of imported black mass arrived at its Guizhou facility, where its black mass production line is now running at full capacity. The 10,000-ton-per-year battery-grade lithium carbonate line has achieved full production and operational targets.
Backed by diversified resource holdings, CNGR continues to ramp up R&D. Cumulative R&D spending from 2020 to 2025 reached 5.303 billion yuan, including 1.170 billion yuan in 2025 alone, up 5.50% year-on-year. Key technologies such as oxygen-enriched side-blown nickel smelting, high-purity electrolytic nickel-cobalt production, and black mass recycling have been fully optimized.
In new materials, the company's pioneering ultra-high nickel NCM precursor boosts energy density to 230 mAh/g, a 27.8% improvement over 60% nickel-content NCM, reinforcing its technological moat in high and ultra-high nickel segments. Addressing intelligent driving demands for high energy density, long cycle life, and fast charging, CNGR launched its first high-concentration doped and coated medium-nickel high-voltage single-crystal sample, solving industry pain points with low cost, low impedance, and high capacity.
In solid-state battery materials, the latest generation of lithium-rich manganese precursors has passed validation, and the company has built solid-state technology reserves. High-nickel precursors developed in collaboration with leading battery manufacturers have entered mass production, with annual shipments exceeding 100 tons, and are expected to maintain double-digit growth in 2026.
On March 30, CNGR Advanced Material Co., Ltd. released its 2025 annual report. The company posted full-year revenue of 48.14 billion yuan, a year-on-year increase of 19.68%, with overseas revenue reaching 24.02 billion yuan, up 34.31%. Net profit attributable to shareholders stood at 1.567 billion yuan, up 6.84%, while core net profit (excluding non-recurring items) rose 13.10% to 1.449 billion yuan. As of year-end 2025, net assets totaled 33.622 billion yuan, up 14.02%, and the debt-to-asset ratio fell 0.82 percentage points. In the fourth quarter alone, revenue grew 47.54% to 14.842 billion yuan, and net profit attributable surged 217.24% to 455 million yuan.
On the resource front, CNGR has secured over 600 million wet metric tons of lateritic nickel ore in Indonesia through investments, equity participation, and long-term agreements. Leveraging its dual OESBF and RKEF smelting routes, the company has built a robust nickel supply system. Meanwhile, its high-grade phosphate project in Kaiyang, Guizhou, has broken ground, with proven resources of 98.44 million tons and an annual mining capacity of 2.8 million tons. Its Argentine lithium project boasts over 10 million tons of lithium carbonate equivalent, with development progressing steadily, securing low-cost, high-quality mineral sources for long-term growth.
On recycling, CNGR has launched a European recycling hub in partnership with Germany's CRONIMET, opening a global recycling channel. By end-2025, the first batch of imported black mass arrived at its Guizhou facility, where its black mass production line is now running at full capacity. The 10,000-ton-per-year battery-grade lithium carbonate line has achieved full production and operational targets.
Backed by diversified resource holdings, CNGR continues to ramp up R&D. Cumulative R&D spending from 2020 to 2025 reached 5.303 billion yuan, including 1.170 billion yuan in 2025 alone, up 5.50% year-on-year. Key technologies such as oxygen-enriched side-blown nickel smelting, high-purity electrolytic nickel-cobalt production, and black mass recycling have been fully optimized.
In new materials, the company's pioneering ultra-high nickel NCM precursor boosts energy density to 230 mAh/g, a 27.8% improvement over 60% nickel-content NCM, reinforcing its technological moat in high and ultra-high nickel segments. Addressing intelligent driving demands for high energy density, long cycle life, and fast charging, CNGR launched its first high-concentration doped and coated medium-nickel high-voltage single-crystal sample, solving industry pain points with low cost, low impedance, and high capacity.
In solid-state battery materials, the latest generation of lithium-rich manganese precursors has passed validation, and the company has built solid-state technology reserves. High-nickel precursors developed in collaboration with leading battery manufacturers have entered mass production, with annual shipments exceeding 100 tons, and are expected to maintain double-digit growth in 2026.
On March 30, CNGR Advanced Material Co., Ltd. released its 2025 annual report. The company posted full-year revenue of 48.14 billion yuan, a year-on-year increase of 19.68%, with overseas revenue reaching 24.02 billion yuan, up 34.31%. Net profit attributable to shareholders stood at 1.567 billion yuan, up 6.84%, while core net profit (excluding non-recurring items) rose 13.10% to 1.449 billion yuan. As of year-end 2025, net assets totaled 33.622 billion yuan, up 14.02%, and the debt-to-asset ratio fell 0.82 percentage points. In the fourth quarter alone, revenue grew 47.54% to 14.842 billion yuan, and net profit attributable surged 217.24% to 455 million yuan.
On the resource front, CNGR has secured over 600 million wet metric tons of lateritic nickel ore in Indonesia through investments, equity participation, and long-term agreements. Leveraging its dual OESBF and RKEF smelting routes, the company has built a robust nickel supply system. Meanwhile, its high-grade phosphate project in Kaiyang, Guizhou, has broken ground, with proven resources of 98.44 million tons and an annual mining capacity of 2.8 million tons. Its Argentine lithium project boasts over 10 million tons of lithium carbonate equivalent, with development progressing steadily, securing low-cost, high-quality mineral sources for long-term growth.
On recycling, CNGR has launched a European recycling hub in partnership with Germany's CRONIMET, opening a global recycling channel. By end-2025, the first batch of imported black mass arrived at its Guizhou facility, where its black mass production line is now running at full capacity. The 10,000-ton-per-year battery-grade lithium carbonate line has achieved full production and operational targets.
Backed by diversified resource holdings, CNGR continues to ramp up R&D. Cumulative R&D spending from 2020 to 2025 reached 5.303 billion yuan, including 1.170 billion yuan in 2025 alone, up 5.50% year-on-year. Key technologies such as oxygen-enriched side-blown nickel smelting, high-purity electrolytic nickel-cobalt production, and black mass recycling have been fully optimized.
In new materials, the company's pioneering ultra-high nickel NCM precursor boosts energy density to 230 mAh/g, a 27.8% improvement over 60% nickel-content NCM, reinforcing its technological moat in high and ultra-high nickel segments. Addressing intelligent driving demands for high energy density, long cycle life, and fast charging, CNGR launched its first high-concentration doped and coated medium-nickel high-voltage single-crystal sample, solving industry pain points with low cost, low impedance, and high capacity.
In solid-state battery materials, the latest generation of lithium-rich manganese precursors has passed validation, and the company has built solid-state technology reserves. High-nickel precursors developed in collaboration with leading battery manufacturers have entered mass production, with annual shipments exceeding 100 tons, and are expected to maintain double-digit growth in 2026.
On March 30, CNGR Advanced Material Co., Ltd. released its 2025 annual report. The company posted full-year revenue of 48.14 billion yuan, a year-on-year increase of 19.68%, with overseas revenue reaching 24.02 billion yuan, up 34.31%. Net profit attributable to shareholders stood at 1.567 billion yuan, up 6.84%, while core net profit (excluding non-recurring items) rose 13.10% to 1.449 billion yuan. As of year-end 2025, net assets totaled 33.622 billion yuan, up 14.02%, and the debt-to-asset ratio fell 0.82 percentage points. In the fourth quarter alone, revenue grew 47.54% to 14.842 billion yuan, and net profit attributable surged 217.24% to 455 million yuan.
On the resource front, CNGR has secured over 600 million wet metric tons of lateritic nickel ore in Indonesia through investments, equity participation, and long-term agreements. Leveraging its dual OESBF and RKEF smelting routes, the company has built a robust nickel supply system. Meanwhile, its high-grade phosphate project in Kaiyang, Guizhou, has broken ground, with proven resources of 98.44 million tons and an annual mining capacity of 2.8 million tons. Its Argentine lithium project boasts over 10 million tons of lithium carbonate equivalent, with development progressing steadily, securing low-cost, high-quality mineral sources for long-term growth.
On recycling, CNGR has launched a European recycling hub in partnership with Germany's CRONIMET, opening a global recycling channel. By end-2025, the first batch of imported black mass arrived at its Guizhou facility, where its black mass production line is now running at full capacity. The 10,000-ton-per-year battery-grade lithium carbonate line has achieved full production and operational targets.
Backed by diversified resource holdings, CNGR continues to ramp up R&D. Cumulative R&D spending from 2020 to 2025 reached 5.303 billion yuan, including 1.170 billion yuan in 2025 alone, up 5.50% year-on-year. Key technologies such as oxygen-enriched side-blown nickel smelting, high-purity electrolytic nickel-cobalt production, and black mass recycling have been fully optimized.
In new materials, the company's pioneering ultra-high nickel NCM precursor boosts energy density to 230 mAh/g, a 27.8% improvement over 60% nickel-content NCM, reinforcing its technological moat in high and ultra-high nickel segments. Addressing intelligent driving demands for high energy density, long cycle life, and fast charging, CNGR launched its first high-concentration doped and coated medium-nickel high-voltage single-crystal sample, solving industry pain points with low cost, low impedance, and high capacity.
In solid-state battery materials, the latest generation of lithium-rich manganese precursors has passed validation, and the company has built solid-state technology reserves. High-nickel precursors developed in collaboration with leading battery manufacturers have entered mass production, with annual shipments exceeding 100 tons, and are expected to maintain double-digit growth in 2026.
