Zhenhua New Materials' ternary cathode material revenue fell 51% year-on-year

In 2023, Zhenhua New Materials' revenue from ternary cathode materials was 6.582 billion yuan, a year-on-year decrease of 51%, and its share dropped to 91%. Sales of ternary cathode materials were 31,700 tons, a year-on-year decrease of 28.5%, and inventory increased to 3,400 tons, with an average sales price of 207,000 yuan per ton.