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On February 28, Nuode Investment Co., Ltd has disclosed its 2021 annual performance, achieving a total operating revenue of USD 709 million, a year-over-year growth of 107.88%. The company also gained a net profit of USD 64 million and exceeds more than seven times over the same period of the previous year.
nuode investment co., ltd
Today, the company's share closed at CNY 14,88, up 1.92% compared to yesterday. In the company's earnings statement, it stated that in 2021, the company grasped the rising development opportunities of the new energy industry market, along with the thriving electrodeposited copper foils market.
Nuode Investment Co., Ltd is a company manufacturing and distributing new materials, such as new energy products, electric wires and cables, electronic information materials, and petrochemical products. From 2016 to 2020, the company's net income experienced strong growth in 2017 with over 600% CAGR.
In benefits of improvements in operational efficiency and product structure, the company has witnessed a skyrocketing performance in its profitability while the downstream sector saw a surging demand for new energy power batteries.
Since 2021, China's market has experienced a boom of new energy vehicles with an astonishing growth in demand for consumer electronics. The new energy battery industry has consequently become one of the most favorable markets.
In China, 15 battery manufacturers, including Contemporary Amperex Technology Co., Limited (CATL), SVOLT Energy Technology, Farasis Energy, and others, harvested more than 50 orders. 20 companies that produce lithium equipment gathered orders worth up to CNY 38.1 billion.
In addition, it is worth noting that the company completed the technical transformation and upgrade of Qinghai Electronic Material Industry Development Co., Ltd, increasing the production and sales volume. At the same time, the company also reduced the unit processing cost and therefore increased the product profitability.