On November 1st, Zhejiang Business Magazine released the full list of revenue and profit rankings for A-share listed companies in Zhejiang for the first three quarters of 2023, with a total of 691 companies on the list. Huayou Cobalt achieved an impressive milestone, ranking tenth with a revenue of 51.091 billion CNY and a net profit of 3.013 billion CNY, demonstrating our commitment to leading high-quality development with high-level openness.
In the first three quarters of 2023, amidst a challenging industrial landscape marked by slowing growth in the new energy automobile sector and intensified competition in lithium battery materials, Huayou people proactively focused on three key aspects, accentuating three main streams, and enhancing three crucial elements. We fortified industrial collaboration and coordination, oversaw major project developments, advanced IPD product research and development, implemented lean manufacturing, and wholeheartedly constructed ESG framework. Furthermore, we expanded our high-level openness and executed the "Two Leading" competitive strategy and "To be One of the Best" business strategy. By striving for excellence, improving quality and forging ahead,, we achieved commendable operational performance, maintaining a strong growth trajectory. Simultaneously, we debuted in the list of China's Top 500 Enterprises for the first time, marking a historic transition from China's Top 500 Private Enterprises to China's Top 500 Enterprises, an unprecedented milestone in our pursuit of quality advancement.
Throughout this year, the government's resolute support for the high-quality development of the private sector has reinforced our confidence and determination to expedite our growth. The decisions to vigorously support the development of strategic emerging industries like new energy vehicles are set to bring long-term prosperity to the new energy automobile sector. In the future, Huayou will remain steadfast in our mission of "creating value for customer and leading industry development", committed to green development as the foundation of the new industrialization, while illuminating the path to high-quality development for new energy enterprises through technological innovation. We are dedicated to writing a new chapter of Chinese-style modernization with our Huayou’s strength.