COSMO AM&T Posts Q2 Operating Profit of KRW 4.6 Billion

Korea’s domestic NEV sales rose 22.1% month on month to 93,722 units in June, while combined BEV, HEV and PHEV exports increased 23.3% to 102,551 units. HEVs accounted for about 78% of incremental growth in both markets. BEV volumes also posted double-digit gains, but their share declined as HEVs expanded faster, highlighting a gap between overall vehicle-market recovery and the pace of BEV-led electrification.

On the evening of July 20, Furih Group Co., Ltd. issued an announcement stating that it plans to acquire 78.80% of the equity of Bosilis (Nanjing) Co., Ltd. for 399.6 million yuan. The transaction has been approved by the second meeting of the ninth board of directors of Furih Group. Upon completion of the transaction, Bosilis (Nanjing) will become a holding subsidiary of Furih Group and will be included in its consolidated financial statements. As of the date of the agreement signing, Bosilis Co., Ltd. holds 78.8% of its equity, while Nanjing Zhongli Enterprise Management Partnership (Limited Partnership) holds 21.2%.

It was recently learned that the main construction work of Zhiliang New Materials' annual 30,000-ton lithium iron manganese phosphate powder production line project has been largely completed. The No. 1 workshop is expected to be topped out in August this year, with trial production scheduled to begin by the end of the year. The project is invested and constructed by Zhongke Zhiliang New Energy Materials (Zhejiang) Co., Ltd., located in the Keqiao Economic Development Zone, Shaoxing City, Zhejiang Province, with a total investment of 1.1 billion yuan. The project plans to produce 30,000 tons of lithium iron manganese phosphate powder annually, with an estimated annual operating revenue of 2 billion yuan upon reaching full capacity.