Recently, Xiamen Tungsten New Energy (XTC New Energy) released its Q3 financial report. The company achieved a revenue of 3.582 billion yuan in the third quarter of this year, a year-on-year decrease of 28.37%; the net profit attributable to the parent company was 128 million yuan, a year-on-year decrease of 18.59%, and a slight increase of 0.47% quarter-on-quarter. In the first three quarters of this year, XTC New Energy achieved a revenue of 9.882 billion yuan, a year-on-year decrease of 24.69%; the net profit attributable to the parent company was 367 million yuan, a year-on-year decrease of 10.89%.
(XTC New Energy's main business is the research and development, production, and sales of new energy battery materials. The main products include high-voltage lithium cobalt oxide (LCO), high-voltage nickel-manganese-cobalt (NMC) materials, high-nickel nickel-manganese-cobalt (NMC) materials, high-power nickel-manganese-cobalt (NMC) materials, hydrogen energy materials, etc., which are applied in the fields of 3C consumer electronics, new energy vehicles, energy storage, etc.
From the perspective of sales volume, in the third quarter of this year, XTC New Energy's lithium battery cathode material product sales volume was 26,300 tons, a quarter-on-quarter increase of 28.16%. Among them, the sales volume of LCO was 13,900 tons, a quarter-on-quarter increase of 38.22%; the sales volume of NMC materials was 12,200 tons, a quarter-on-quarter increase of 16.62%. The company achieved a sales volume of 71,100 tons of lithium battery cathode materials in the first three quarters. Among them, the sales volume of LCO was 32,300 tons, a year-on-year increase of 30.45%; the sales volume of NMC materials was 38,600 tons, a year-on-year increase of 64.86%.
In terms of new material development, XTC New Energy is cooperating with well-known battery companies to develop NL's new structure cathode materials. This new structure cathode material significantly outperforms traditional cathode products such as LCO and NMC materials in terms of energy density, rate, and cycle life, and is expected to be widely used in fields such as 3C consumer electronics, robotics, low-altitude eVTOL, and solid-state batteries.
According to China Star Market, in the field of solid-state batteries, XTC New Energy mainly focuses on the development of cathode materials and solid-state electrolytes for solid-state batteries. In terms of solid-state battery cathode materials, the focus is on the matching problem between cathode materials and solid-state electrolytes, and initial mass production has been achieved in both halide and sulfide all-solid-state batteries.
XTC New Energy is also actively deploying overseas business. European XTC New Energy and OranoCAM, a subsidiary of the French Orano Group, jointly invested in the establishment of Xiamen Tungsten New Energy Materials Co., Ltd. in France, to build a production line with an annual output of 40,000 tons of ternary cathode materials. Currently, the project is in the preliminary stage of factory construction preparation.
