POSCO approves definitive agreement with Australia’s Anson for North American DLE project

Kangwon Energy announced on May 15 that it posted consolidated revenue of KRW 52.2 billion for the first quarter, down 2.6% from a year earlier. The decline partly reflected reduced equipment investment amid a slowdown in the secondary battery market. However, the company’s secondary battery materials business, led by lithium materials, continued to grow and helped support overall earnings. Revenue from the secondary battery materials segment increased by around 65% year on year in the first quarter, offsetting a significant portion of the decline in equipment sales, according to the company.

Secondary battery materials company FINO disclosed on May 15 that its consolidated operating profit for the first quarter reached KRW 9.5 billion, up 17,620.8% from a year earlier. Revenue for the same period increased 96.8% year on year to KRW 109.1 billion, while net profit turned positive at KRW 8.9 billion.

Recently, CATL and Xiamen City deepened their strategic cooperation. Through this signing, CATL will focus on advancing three major directions. First, CATL will establish a regional production base for high-performance automotive and energy storage lithium batteries, integrating the entire chain of cell, module, and PACK manufacturing, further strengthening Xiamen's new energy battery industrial cluster. Second, AutoFlight's eVTOL will enhance cooperation with the Xiamen municipal government in the low-altitude sector. Third, the two parties will focus on cutting-edge technological research and development and high-end talent cultivation in the new energy field, providing intellectual support for the development of Xiamen's new energy industry.