Ronbay Technology recently released its performance forecast for the year 2024, expecting a decrease in revenue and net profit compared to the previous year. Despite facing profitability pressure in the first half of 2024 due to market competition and raw material price fluctuations, the company saw improvement in operational conditions in the second half. The company’s performance was still impacted by these factors, leading to a decline in profitability for the year.
In terms of operational performance, Ronbay Technology highlighted achievements such as the full capacity utilization of its production site in South Korea and strong sales growth in the ternary materials segment, maintaining its position as the global leader in the industry. The company also saw success in other product segments, with plans for further breakthroughs in 2025.
With the increasing adoption of high-nickel ternary materials in emerging markets such as humanoid robots and solid-state batteries, Ronbay Technology expects new support points for market demand in 2025. The company’s focus on international customer development has also led to significant sales growth and partnerships with top battery and EV customers worldwide.
Overall, despite challenges in the first half of 2024, Ronbay Technology remains optimistic about its future prospects, with plans to continue expanding its product portfolio and tapping into new application scenarios for its materials. The company’s performance forecast aligns with similar projections from other industry players, all of whom expect a decline in performance for the year.
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