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| Shanshan |
Lower Feedstock Costs and Rising EV Demand Drive Performance
Ningbo Shanshan, a diversified Chinese new energy firm, increased both anode material production and sales in 2024. The company responded to rising demand from China’s rapidly expanding new energy vehicle (NEV) sector.
Shanshan produced 354,605 tons of battery-grade anode materials in 2024, up 27% from 279,019 tons in 2023. Sales volumes climbed 28%, reaching 339,536 tons, compared to 264,361 tons the previous year.
The company’s anode segment revenue reached 8.2 billion yuan (US$1.1 billion), growing 12% year-on-year. This increase aligns with higher sales and cost efficiencies across its production chain.
Falling Graphite Prices Support Margins
Shanshan's feedstock costs declined to 2.9 billion yuan, down 3.3% from 3 billion yuan in 2023. The reduction stems from falling prices of graphite flake, a key raw material for anode production.
These favorable input costs helped the company maintain profitability while scaling its output. As NEV demand accelerates, Shanshan is poised to remain a key player in China's battery materials supply chain.
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