Huayou Cobalt Posts 55–68% Net Profit Surge in First Half, Three Consecutive Quarters of Triple-Digit Growth

Huayou Cobalt has released its performance forecast, revealing that net profit attributable to shareholders is expected to reach 2.6–2.8 billion yuan for H1 2025, a year-on-year surge of 55.62% to 67.59%. This marks the company’s third consecutive quarter of triple-digit net profit growth.

The company attributes its booming profits to its integrated business model, the rebound in cobalt prices, management reforms, and ongoing cost optimization. In the first quarter of 2025 alone, Huayou Cobalt achieved revenue of 17.842 billion yuan, up 19.24%, and net profit jumped 139.68% to 1.252 billion yuan.

Huayou’s core new energy business focuses on NCM and lithium cobalt oxide cathode materials, widely used in EVs, energy storage, and consumer electronics. The company’s 2024 revenue hit 60.946 billion yuan, with a net profit of 4.155 billion yuan. Q4 2024 saw the highest revenue and a net profit leap of 235.92% to 1.134 billion yuan.

Investment remains robust, with nearly 100 billion yuan deployed since 2008. At the end of 2024, Huayou had six mega-projects in progress, with a total budget of 25.211 billion yuan, emphasizing cobalt, nickel, NCM, and lithium salts as core growth areas.

In June, the company’s Zimbabwe lithium project entered a key installation phase, reinforcing Huayou’s strategic control of global lithium resources and manufacturing capability in Africa. As Huayou Cobalt nears the end of its 14th Five-Year Plan, it is firmly laying the groundwork for future expansion and global supply leadership.