Ganfeng Lithium boasts 274.68% YoY soar in 2022 full-year revenue

Shanghai (Gasgoo)- Ganfeng Lithium Group Co., Ltd. (“Ganfeng Lithium”), one of the world's leading producers of battery-grade lithium, scored a 274.68% year-on-year hike in its annual revenue for the year of 2022, which reached around 41.823 billion yuan, according to the financial results the group released on Mar. 30.

During the year of 2022, the group saw its full-year net profit attributable to shareholders zoom up 292.16% from a year earlier to 20.504 billion yuan. After deduction of non-recurring profit and loss, the yearly net profit belonging to shareholders even rocketed 586.34% over the previous year to 19.952 billion yuan.

Photo credit: Ganfeng Lithium

By the end of Dec. 2022, the group’s total assets had amounted to 79.16 billion yuan, soaring 102.68% compared with the year-ago period.

The company has already laid out its lithium battery business in various fields including consumer battery, TWS battery, power/energy storage battery, and solid-state battery. It has established lithium battery R&D and production bases in cities such as Xinyu, Dongguan, Ningbo, Suzhou, Huizhou, and Chongqing, with products widely used in such areas as photovoltaic energy storage, passenger vehicle battery, electric bus, airport equipment, electric boat, smart home, 5G communications, Bluetooth earphone, medical equipment, and more.

According to the announcement, Ganfeng LiEnergy, the group’s subsidiary dedicated to lithium battery business, recorded a 6GWh of annual shipment of power & energy storage batteries in 2022.

In terms of production capacity expansion of lithium batteries, Ganfeng LiEnergy’s 20GWh battery industrial park in Chongqing city has already started operation. The company expects to build the Chongqing park into China’s biggest solid-state battery production base.

Besides, Ganfeng LiEnergy is planning further production capacity upgrades for the second phase of its new-type lithium battery project in Xinyu city, which is still under construction, aiming to raising the annual capacity to 12GWh by 2023 from the current designed volume of 10GWh.