CNGR(SZ:300919) Chang Jiang Shang Bao·2025-04-14 00:07Group 1: Company Performance - In 2024, the company reported a revenue of 402.23 billion yuan, a year-on-year increase of 17.36%, but the net profit attributable to shareholders decreased by 24.64%, marking the first decline since its listing and the first drop in nearly seven years [1][7] - The company's stock price has been on a downward trend since reaching a historical high of 152.25 yuan per share on November 24, 2021, closing at 32.5 yuan per share on April 11, 2025 [1][7] - The wealth of the company's founder, Deng Weiming, has decreased significantly, dropping to 16.5 billion yuan in the 2024 Hurun Rich List, down 48 billion yuan from three years ago [7] Group 2: Strategic Adjustments - In response to the industry's downturn, the company has shifted from aggressive expansion to strategic contraction, terminating the nickel refining project in Pohang, South Korea, and extending the construction period for the nickel ore project in Indonesia [8][9] - The company is also pursuing an international strategy by planning to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange, aiming to enhance its global capital operation platform and support its global industrial layout [9] Group 3: Industry Context - The lithium battery industry is currently in a cyclical downturn, which has affected the company's performance and led to a slowdown in growth compared to the rapid expansion seen in 2020 and 2021 [6][8] - The company has faced challenges such as high technical barriers and low customer recognition during its transition to lithium battery materials, but it has successfully captured a 25% global market share in ternary precursors by 2019 [3][4]