Recently, at the 2023 China (Xinyu) Conference for New Energy Lithium Battery Materials and Technologies, the anticipated "2023 Forbes China Top 100 Lithium Battery Industry Chain" was published, and Huayou Cobalt, as expected, won itself a place on the list.
The list was jointly decided by Forbes China and the People's Government of Xinyu Municipality, Jiangxi Province. As Forbes' first program regarding lithium battery, the selection covered 3 sub-categories (four major materials in lithium salt and lithium battery, lithium battery production and equipment construction, lithium battery application and recycling) and adopted the total market value of enterprises, total assets, gross revenue and net profit attributable to the parent company as the major indicators.
The list covered the upstream (10 lithium battery and carbonate manufacturers, as well as 30 major material suppliers), midstream (40 lithium battery and equipment manufacturers), and the downstream (6 automakers, 14 enterprises engaging in lithium battery application and recycling) of the industry chain. It also included 10 enterprises as winners of industry chain innovation awards.
Huayou Cobalt was shortlisted in the sub-category of "four major materials in lithium salt and lithium battery". By the end of 2022, the total asset of the company reached a sum of CNY 110.592 billion, with a revenue of CNY 63.034 billion at a year-on-year growth of 78.48%, a net profit attributable to the parent company of CNY 3.91 billion, marking a year-on-year growth of 0.32%. By seeking "fast development based on stability" and sticking to the business philosophy of "safety first, quality based, innovation-driven, and industry coordination", the company consolidated its business structure based on overseas resources, domestic manufacturing and global market, realized explosive growth in its production capacity and sales volume, pushed forwards its projects, greatly increased its market share and innovation competence, made comprehensive break-throughs in strategic cooperation. These efforts helped it to realize a safe, coordinative, innovative, green and common development, nurtured many breakthroughs and milestones, led to a gross revenue of more than CNY 10 billion for 3 successive years, and facilitated its historic ranking improvement from a Top 500 Chinese private manufacturing company to a Top 500 Chinese private company (ranking the 321st in the Top 500 private enterprises in China, and the 213rd in 2023 Fortune Top 500 Listed Companies in China).
By far, China has had an established industry chain of lithium battery and made spectacular achievements in technical innovation, brand building and market expansion. The events were designed to provide a support and communication platform to serve the local economic development, industry reform and upgrade, exchange of industry information, and matching of enterprise resources to promote mutual trust and cooperation between companies across the industry chain, as well as the sustainable and healthy development of the new energy industry of lithium battery.