News: Demand for battery materials increases, CNGR's profit surges in the first quarter
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CNGR Co., Ltd.; announced on Wednesday that driven by strong demand for battery materials, it expects net profit in the first quarter to reach between 530 million yuan and 590 million yuan, a year-on-year increase of 72% to 92%. The company's battery material sales approached 130,000 tons, benefiting from rising nickel prices. On Thursday, CNGR's Hong Kong stock rose 0.4% to HKD 36.5, while its A-shares increased by 1.4% to 51.2 yuan, 7.4% higher than the listing price in November last year
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