Performance analysis of 38 energy storage material companies

The performance analysis of energy storage material companies in the first quarter of 2024 shows that 11 companies achieved year-on-year revenue growth, while 28 companies saw a year-on-year decline in net profit. Affected by the cyclical nature of the lithium battery industry, the profits of material companies shrank significantly in the first quarter of 2024. The net profits of the "two giants of the lithium industry" Ganfeng Lithium and Tianqi Lithium both turned from profit to loss in the first quarter of 2024, down 118.31% and 179.93% year-on-year respectively; the net profits of Salt Lake Co., Ltd. and Zangge Mining in the first quarter of 2024 also fell by 58.03% and 42.51% year-on-year respectively; in terms of negative electrode material companies, B&T and Putailai fell by 25.52% and 36.64% year-on-year in the first quarter of this year.