CNGR reported FY2025 revenue of RMB 48.14 billion, a 19.70% increase from FY2024, driven by stronger sales of nickel-, cobalt- and phosphorus-based battery materials as well as nickel products.

Profit attributable to shareholders reached RMB 1.57 billion, up 7.10% year-on-year, while overall net profit slipped to RMB 1.61 billion as minority contributions declined. Basic earnings per share edged up 4.43% to RMB 1.65.

Gross profit expanded 19.34% to RMB 5.78 billion; the gross margin held at 12.0%. Sales to mainland customers accounted for 50.1% of revenue, with overseas markets—led by South Korea, Singapore, Indonesia and Hong Kong—contributing 49.9%.

Revenue from new-energy battery materials rose to RMB 22.67 billion, representing 47.1% of total sales. Nickel-based materials remained the largest contributor at RMB 16.68 billion. Cobalt-based material sales almost doubled to RMB 4.40 billion, supported by firmer cobalt prices. Phosphorus-based materials rose to RMB 1.57 billion as fresh capacity ramped up, narrowing segment losses.

New-energy metal products, chiefly nickel intermediates and electrolytic nickel, delivered RMB 17.81 billion, up 32.1% year-on-year.

Operating expenses reflected the Company’s expansion: administrative costs rose 13.10% to RMB 1.31 billion, and R&D spending increased 5.50% to RMB 1.17 billion. Net finance costs eased slightly to RMB 1.02 billion as interest-bearing borrowings held steady at RMB 26.96 billion.

The Board proposed a cash dividend of RMB 3.8 per 10 shares (tax inclusive), subject to shareholder approval, equivalent to a payout of approximately RMB 0.38 per share.

Total assets climbed to RMB 81.61 billion, while total equity rose 14.1% to RMB 33.62 billion following the Hong Kong listing in November 2025 and the issuance of perpetual debt instruments. The gearing ratio (interest-bearing debt, bonds and related balances to equity) improved to 83.1% from 97.2% a year earlier.

Looking ahead, management will focus on reinforcing its leadership in high-nickel precursor and cobalt-based products, accelerating scale-up of phosphorus-based materials, and deepening its global resource footprint—particularly in Indonesia, Morocco and South Korea—while continuing cost-reduction and digitalisation initiatives.

Key post-balance-sheet events include a partial divestment of Indonesian subsidiary PT Anugerah Barokah Cakrawala and confirmation of the proposed 2025 final dividend.

No other material subsequent events were disclosed.