CNGR Advanced Material

What CNGR Advanced Material does

CNGR Advanced Material Co., Ltd. (中伟新材料股份有限公司) is a publicly listed Chinese new energy battery materials company founded in 2014 and headquartered in Tongren, Guizhou Province. It is dual-listed on the Shenzhen Stock Exchange ChiNext (300919.SZ, since December 2020) and the Hong Kong Stock Exchange (2579.HK, since November 2025). The company is the world's dominant supplier of nickel-based and cobalt-based precursor cathode active materials (pCAM) used in lithium-ion batteries, holding approximately 35% market share in 9-series ternary precursors and 60% in 8-series precursors as of 2023 H1.

CNGR operates a vertically integrated new energy materials technology platform spanning four precursor families — nickel-based (NCM ternary precursors, including ultra-high-nickel >95% variants), cobalt-based (cobalt tetroxide and battery-grade cobalt sulfate/chloride), phosphorus-based (iron phosphate for LFP cathode applications), and sodium-based (sodium-ion battery precursors scaled to 8,000 tons/year at Tongren). The company's proprietary OESBF (Oxygen-Enriched Side-Blown Furnace) process converts low-grade nickel matte to high-grade nickel matte at the Qinzhou Industrial Base, with full ramp-up targeting 80,000 metal tons annually. Manufacturing execution is supported by integrated MES/ERP/PLM systems with RFID-based material tracking, recognized as a National-Level Intelligent Manufacturing Pilot Demonstration Project by China's MIIT. The platform also includes battery recycling and circular materials operations spanning China, Germany, and Singapore.

The business model centers on direct enterprise B2B sales of precursor and cathode materials to global Tier-1 battery cell manufacturers (CATL, BYD, LG Energy Solution, Samsung SDI, SK On, CALB, SVOLT) and cathode producers (POSCO, Ecopro, L&F, Ronbay, BTR, Easpring). Revenue is generated through hardware sales of materials rather than licensing, complemented by JV-driven co-distribution through POSCO Future M (Korea), Al Mada (Morocco), and Cronimet (Germany). The company maintains a global industrial footprint spanning China (Guizhou, Hunan, Guangxi), Indonesia (four bases in Morowali, Weda Bay, North Morowali, South Kalimantan), Morocco (Jorf Lasfar), South Korea (Pohang, in preparation), Hong Kong (regional entity), and Germany (Frankfurt office, Bitterfeld recycling JV), with global headcount exceeding 13,000 employees as of 2024.

Name

CNGR Advanced Material

Legal name

中伟新材料股份有限公司 (CNGR Advanced Material Co., Ltd.)

Website

https://cngrgf.com.cn

Company type

Public

Founded year

2014

Operating status

Ipo

Headcount range

5,001–10,000 employees

Short description

CNGR Advanced Material is a Chinese new energy battery materials company and the world's dominant supplier of nickel-based and cobalt-based precursor cathode active materials (pCAM), serving global Tier-1 battery cell makers and cathode producers across EV, energy storage, and consumer electronics applications.

Ownership category

akta.pro rank

Headquarters

HQ city

Tongren

HQ country

China

HQ region

Asia

Offices13 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. New Energy Battery Materials Sales (pCAM and Cathode Materials): Core revenue stream from R&D, production, and sales of new energy battery precursor (pCAM) and cathode materials across the four-series matrix (nickel-based, cobalt-based, phosphorus-based/LFP, sodium-based). Sold B2B to global battery cell makers (CATL, BYD, LG, Samsung SDI, SK On, CALB, SVOLT) and cathode manufacturers (POSCO, Ecopro, L&F, Ronbay, Easpring, BTR, XTC, Tianjin Bamo).
2. Integrated Recycling & Battery Materials Services: Recycling-derived revenue from used lithium-ion battery recycling and resource regeneration (spoke of national MIIT 'whitelist' for new energy vehicle waste power battery comprehensive utilization). Includes JVs with SVOLT (常青藤再生资源) for domestic recycling and partnerships with GLC Recycle (Singapore) and Cronimet (Germany) for international recycling operations.
3. Capital Markets / Equity Financing: US$450 million A+H share listing on Hong Kong Stock Exchange completed November 17, 2025 (H-share code 2579.HK, alongside A-share 300919 on Shenzhen Stock Exchange ChiNext). Capital raise used to fund global expansion including Indonesia, Morocco, South Korea, and Germany operations.

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

CNGR Advanced Material researches, develops, produces, and sells new energy battery precursor cathode active materials (pCAM) and cathode materials across a four-series matrix — nickel-based, cobalt-based, phosphorus/LFP-based, and sodium-based. Its portfolio also includes battery-grade nickel sulfate, cobalt sulfate, and high-grade nickel matte produced via its proprietary OESBF process, plus integrated lithium-ion battery recycling and resource regeneration services.

Product overview

CNGR Advanced Material is a vertically integrated new energy battery materials platform rather than a single product. Its core offering spans four precursor families (nickel-based, cobalt-based, phosphorus-based/LFP-related, and sodium-based precursors) supplied into three downstream application areas: 动力交通 (power transportation/EVs), 智能终端 (smart terminals/consumer electronics), and 绿色储能 (green energy storage). The portfolio is built around core products including 三元前驱体 (ternary NCM precursor — 8- and 9-series), 四氧化三钴 (cobalt tetroxide), 钠电前驱体 (sodium battery precursor), and emerging LFP cathode materials (via the POSCO Future M / FINO JV at Pohang, South Korea). The platform is supported by vertically integrated intermediates — battery-grade nickel sulfate / cobalt sulfate / cobalt chloride solutions produced at the Hunan central base, and high-grade nickel matte (高冰镍) produced via CNGR's proprietary OESBF process at the Qinzhou base using low-grade matte feedstock from Indonesia. The architecture also includes a battery recycling & circular materials business (China + Germany + Singapore), which feeds recovered metals back into precursor production, completing the raw-material-to-cathode-material loop across Indonesian mining, Chinese refining, Korean processing (via JV) and Moroccan-European markets (via the Al Mada JV).

Differentiator

Problem solved

Functional benefit

Brands

• 海益 (Haiyi): Haiyi brand used for the company's nickel-cobalt-manganese (NCM) hydroxide precursor products, which received the 2018 Guizhou Province Famous Brand Product designation.

Products and services

• Ternary Precursor (NCM/Nickel-Cobalt-Manganese Precursor) Nickel-cobalt-manganese hydroxide precursor for ternary cathode materials used in power batteries, including high-nickel 8-series and 9-series variants. Per CNGR's 2023 H1 report, 9-series products held approximately 35% market share and 8-series held approximately 60%.
• Cobalt Tetroxide (Co3O4) Cobalt-based cathode precursor used primarily in consumer electronics (3C) lithium-ion batteries and small-format power applications, with high-voltage Co3O4 variants.
• Sodium Battery Precursor Sodium-ion battery cathode precursor in mass production since March 2023 at the Tongren (Guizhou) base with first-phase 8,000 tons/year capacity.
• LFP Cathode Materials Lithium iron phosphate cathode materials for energy storage systems (ESS) and entry-level/mid-priced EVs, scaled via CNP JV with POSCO Future M and FINO for a 50,000 tons/year dedicated plant at Pohang, South Korea.
• High-Grade Nickel Matte (OESBF Process Output) High-grade nickel matte produced via CNGR's proprietary OESBF (Oxygen-Enriched Side-Blown Furnace) process converting Indonesian low-grade nickel matte to high-grade nickel matte. World's first such line; full ramp target 80,000 metal tons/year.
• Battery-Grade Nickel Sulfate / Cobalt Sulfate / Cobalt Chloride Solutions Solutions produced at the Hunan (central) industrial base for internal use as raw material for ternary precursor and Co3O4 lines, plus commercial supply.
• Battery Recycling and Circular Materials Used lithium-ion battery recycling, cascade utilization, and material regeneration producing battery-grade nickel sulfate and cobalt sulfate. Operates via Guizhou CNGR Recycling, Ivy Regeneration Resources JV with SVOLT in Shangrao, and international JVs with GLC Recycle (Singapore) and Cronimet (Germany).
• Ultra-High-Nickel (>95%) Cathode Materials Ultra-high-nickel cathode precursor materials exceeding 95% nickel content, targeted at long-range EV battery applications.

Quantifiable outcome

• 35% market share in 9-series ternary precursors and 60% in 8-series (per 2023 H1 disclosure)
• +7 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered flagship, core and minor.

• POSCO Future M & FINO (CNP New Material Technology JV)flagshipStrategic or Co-development Partner · 28 May 2026Joint venture CNP New Material Technology between POSCO Future M, CNGR, and CNGR's Korean subsidiary FINO to build a dedicated LFP cathode materials plant at the Yeongilman 4 Industrial Complex in Pohang, South Korea. The facility is scheduled to begin mass production in 2027 with maximum annual output capacity of 50,000 tons. POSCO Future M is also converting part of its existing ternary cathode production lines at its Pohang plant to LFP production. Groundbreaking held on May 28, 2026.
• Cronimet (Germany)coreStrategic or Co-development Partner · 1 December 2023CNGR signed an agreement in Karlsruhe, Germany in December 2023 with Cronimet, a global recycling leader, to jointly invest in and build a lithium battery recycling and disassembly plant in Bitterfeld, Germany. Positions CNGR among the first batch of operators running battery recycling plants in Western Europe, completing CNGR's closed-loop European lithium battery supply chain.
• GLC Recycle (Singapore)coreStrategic or Co-development Partner · 1 October 2023CNGR signed an MOU with GLC Recycle during the 16th Singapore International Energy Week (SIEW) in October 2023. Together with Siemens, the parties are developing an AI-driven, traceable, low-carbon lithium battery recycling solution to ensure traceability of raw materials and support green battery circular recycling.
• Al Mada (Morocco)flagshipStrategic or Co-development Partner · 1 September 2023CNGR signed a cooperation agreement in Casablanca, Morocco in September 2023 with Al Mada, one of Africa's largest private investment funds, to jointly establish a JV building an integrated new energy materials base including ternary precursor, LFP, and used battery recycling lines at Jorf Lasfar industrial park (near OCP Group's El Jadida complex). Project began construction in 2023, with phased commissioning targeted from Q4 2024; will supply battery materials for over 1 million EVs annually when complete, serving Europe and US EV markets.
• POSCO Group (Nickel Refining & pCAM JV)flagshipStrategic or Co-development Partner · 1 June 2023Joint venture signed in June 2023 in Seoul between CNGR and POSCO Group for nickel refining and pCAM production. Total investment ~1.5 trillion KRW, planned capacity of 50,000 metal tons of battery-grade nickel sulfate and 110,000 tons of pCAM, capable of supplying batteries for over 1.2 million EVs. Establishes the first Korean-scale (>100,000 tons) nickel refining and pCAM integrated base from a China-Korea collaboration.
• Central South University (中南大学)coreStrategic or Co-development Partner · 1 January 2023CNGR signed another agreement with Central South University in January 2023 to jointly pursue zero-carbon emission targets for the oxygen-enriched side-blown process for laterite nickel ore at CNGR's Indonesia industrial base, building a zero-carbon-emission laterite nickel ore smelting plant.
• SVOLT Energy (蜂巢能源) — Ivy Regeneration Resources (常青藤再生资源) JVcoreStrategic or Co-development Partner · 1 January 2023CNGR and SVOLT signed a JV agreement establishing Ivy Regeneration Resources (Shangrao) Co., Ltd. (常青藤再生资源上饶有限公司) to jointly deploy battery recycling and resource regeneration capacity domestically.
• PT PLN (Indonesia National Electric Power Company)minorStrategic or Co-development Partner · 6 June 2022In June 2022, CNGR signed an MOU with PT. PLN (Indonesia State Electricity Company) for the provision of 80MVA green electricity to support the development of CNGR's Indonesia industrial base.
• Cronimet / Siemens (Battery Recycling Partners)coreStrategic or Co-development Partner · 1 June 2021CNGR collaborates with Siemens on developing AI-driven, traceable, low-carbon battery recycling solutions as part of the circular battery ecosystem partnership (alongside GLC Recycle in Singapore and Cronimet in Germany).
• RIGQUEZA (Indonesia) — Hong Kong CNGR JVflagshipStrategic or Co-development Partner · 1 April 2021CNGR Hong Kong New Energy Technology Co., Ltd. and RIGQUEZA formed a joint venture with total investment of approximately US$243 million to build a laterite nickel ore smelting project in Indonesia's Sulawesi Island Qingshan Industrial Park (a Belt and Road demonstration cooperation project). The project is designed to produce 30,000 tons of nickel metal annually as high-grade nickel matte, providing reliable raw material supply and building an integrated industry chain.

Scale indicators13 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• Huayou Cobalt: Huayou Cobalt is one of China's largest integrated cobalt/nickel pCAM and cathode material producers, with similar upstream Indonesian nickel exposure and supply into LG, POSCO, and other Tier-1 cell makers — the closest direct competitor to CNGR in nickel-based and cobalt-based pCAM.
• GEM Co., Ltd. GEM is a Chinese leader in battery materials and battery recycling (also MIIT whitelist-qualified), directly competing with CNGR in cobalt pCAM and recycling/circular materials, with similar customer overlap in Chinese cell makers.
• POSCO Future M: POSCO Future M is Korea's largest cathode active material producer and CNGR's JV partner for both the LFP (Pohang) and nickel refining (1.5 trillion KRW) JVs; it competes head-to-head in high-nickel pCAM for LG/Samsung SDI/SK On while collaborating via JV.
• Ecopro BM: Ecopro BM is a Korean high-nickel cathode material leader serving Samsung SDI and SK On — CNGR supplies it as a pCAM customer but Ecopro competes at the cathode layer with POSCO Future M and increasingly Chinese entrants.
• Ronbay Technology: Ronbay is one of China's largest high-nickel ternary cathode material producers, with comparable customer base to CNGR (CATL, CALB, etc.) and overlapping high-nickel NCM product portfolio — competing directly in 8- and 9-series cathode segments.
• L&F Co., Ltd. L&F is a Korean cathode material producer focused on high-nickel NCM for LG Energy Solution and SK On — directly comparable in customer set and chemistry, and a peer for CNGR's Korean supply ambitions.

Broad incumbents

• Umicore: Umicore is a Belgian materials technology group with a substantial Rechargeable Battery Materials business producing NMC and LFP cathode materials in Europe and Asia — competing with CNGR for European OEM wallet share targeted by the Morocco JV.
• Sumitomo Metal Mining: Sumitomo Metal Mining produces high-nickel NCA/NCM cathode materials from a Japanese/Indonesian upstream base; competes with CNGR in high-nickel segments and shares the Indonesian laterite nickel ore exposure.
• SVOLT Energy: SVOLT is a Chinese battery cell and materials company that partners with CNGR via the Ivy Regeneration Resources recycling JV; it competes with CNGR at the cell/cathode interface and shares exposure to the Chinese LFP and cobalt-based materials markets.

Others

• BASF Battery Materials: BASF's Catalysts division operates a global battery materials business (cathode active materials, precursors, recycling) and is competing for European and US OEM supply — directly overlapping with the markets CNGR's Morocco and Germany bases target.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pt-zhongtsing-new-energy

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CNGR Advanced Material