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Company Name: Tianjin Shengfan Technology Corporation
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| LG Chem's operating profit has significantly decreased |
| Recently, LG Chem released statistical data showing that in the second quarter of this year, the company’s operating profit reached 405.9 billion Korean won, a significant decrease of 34.3% year-on-year. The quarterly sales revenue was 12.30 trillion Korean won, a year-on-year decrease of 14.2%; Net profit was 59.8 billion Korean won, a year-on-year decrease of 91.1%. According to business department statistics, LG Chem Petrochemicals’ sales revenue was KRW 4.97 trillion and operating profit was KRW 32.3 billion. Despite the bullish trend in raw material prices, due to the seasonal off-season in markets such as home appliances, sales of major products have increased, and profits have returned for the first time in three quarters. The sales revenue of the advanced materials business department was 1.73 trillion Korean won, and the operating profit was 169.9 billion Korean won. In terms of battery materials, despite concerns about a slowdown in the growth of electric vehicles, sales and profit margins have improved due to an increase in exports of positive electrode materials. The profit margins of electronic materials and engineering materials have also improved due to the increase in the proportion of high value-added products. The life science business department benefited from the strong performance of key products such as diabetes and vaccines, with sales of 404.4 billion won and operating profit of 109 billion won. LG Energy Solutions, responsible for the battery business, had sales of KRW 6.16 trillion and operating profit of KRW 195.3 billion. Although the decline in metal prices has had an impact on sales prices, sales and advanced manufacturing production tax credits have increased due to the increase in sales of new electric vehicles launched to North American customers. |
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| Release time: 2024-08-15 Click: 81 |
Company Name: Tianjin Shengfan Technology Corporation
Mobile Phone: 86-16600237486
Email: chris@dyessf.com
Website: www.dyessf.com
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