Nuode Investment Co LtdNuode swung to profit with net income of 103 million yuan vs loss last year, driven by improved supply-demand and higher processing fees.

Nuode Shares disclosed its half-year report, showing first-half operating revenue of 6.433 billion yuan, up 113.33 percent year-on-year, and net profit attributable to shareholders of the listed company of 103 million yuan, compared with a loss of 72.4329 million yuan in the same period last year, swinging to profit. Basic earnings per share were 0.0598 yuan. The company said the supply-demand pattern in the lithium battery copper foil industry has completely reversed, with low-end backward capacity continuously eliminated and new capacity additions slowing down. Coupled with the release of demand from both power batteries and energy storage, copper foil processing fees have bottomed out and rebounded. Relying on its differentiated product layout of ultra-thin lithium battery copper foil and high-end electronic copper foil, the company's overall profitability has improved significantly both quarter-on-quarter and year-on-year.
Nuode Investment Co LtdNuode swung to profit with net income of 103 million yuan vs loss last year, driven by improved supply-demand and higher processing fees.