XTC New Energy Materials( Xiamen) Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 26, 2022 at 08:26 am EDT
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XTC New Energy Materials( Xiamen) Co., Ltd. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was CNY 5,909.07 million compared to CNY 2,906.11 million a year ago. Revenue was CNY 5,909.07 million compared to CNY 2,906.11 million a year ago. Net income was CNY 206.9 million compared to CNY 115.59 million a year ago. Basic earnings per share from continuing operations was CNY 0.82 compared to CNY 0.61 a year ago. Diluted earnings per share from continuing operations was CNY 0.82 compared to CNY 0.61 a year ago.
XTC New Energy Materials Xiamen Co Ltd is a China-based company principally engaged in the research and development, production and sales of cathode materials for lithium-ion batteries. The Company's main products are lithium cobalt oxide and Nickel-Cobalt-Manganese (NCM) ternary materials. Its lithium cobalt oxide covers 4.35V, 4.4V and 4.45V models. Its lithium cobalt oxide is mainly used in electronic products such as smart phones, notebook computers, tablet computers, drones, e-cigarettes, and wearable devices. Its NCM ternary materials cover Ni5, Ni6, Ni7 and Ni8 models. Its NCM ternary materials are used in electric vehicle, electric bicycle and consumer electronics fields.