Yongxing Materials Technology Co., Ltd., located in Huzhou City, Zhejiang Province, was founded in 2000. Formerly known as Yongxing Special Stainless Steel Co., Ltd., it has gradually developed into a leading domestic manufacturer of specialty stainless steel and high-performance alloy materials and is actively expanding into new energy materials.
Company Overview
Yongxing Materials specializes in the production of high-end stainless steel, special steel, and high-temperature alloys. In recent years, it has gradually expanded into the new energy materials sector, forming a “dual-engine” business model.
Special Steel New Materials
Yongxing Materials’ special steel new materials segment covers stainless steel, alloy steel, high-temperature alloy, and super stainless steel, which are widely used in industries such as petrochemicals, power generation, aerospace, and marine engineering.
New Energy Materials
The company has entered the new energy lithium battery materials sector through its subsidiary, producing battery-grade lithium carbonate and lithium hydroxide, serving the power battery and energy storage battery markets. The rapid growth of this segment has provided the company with a new source of profit.
Stainless Steel Business Performance
According to its 2023 annual report, Yongxing Materials achieved significant growth in its special steel new materials business. Sales of stainless steel products reached 310,300 tons, a year-on-year increase of 3.62%. Operating revenue was 6.907 billion yuan, a year-on-year increase of 0.96%, and gross profit was 825 million yuan, a year-on-year increase of 37.38%.
Yongxing Materials has full-process production capabilities, from electric arc furnace refining to cold rolling, and is capable of producing a wide range of steel products, such as high-purity stainless steel and high-temperature alloys. The company possesses independent core technologies in corrosion-resistant alloys, high-purity stainless steel, and high-temperature alloys, ensuring the high quality and technological advantages of its products.
New Energy Materials Business Development
Yongxing Materials successfully entered the lithium battery materials field through the acquisition of Jiangxi Yongxing New Energy Materials Co., Ltd., constructing projects with an annual production capacity of 55,000 tons of lithium carbonate and 30,000 tons of lithium hydroxide. In 2023, revenue from the new energy materials business will grow significantly, becoming a key source of the company’s profits.
Future Outlook: Expanding High-End Stainless Steel Production Capacity
Yongxing Materials plans to further increase its stainless steel production capacity through technological transformation and capacity expansion, focusing on developing high-value-added products such as corrosion-resistant alloys, high-temperature alloys, and duplex stainless steel.
With increasing national demand for high-end steel, particularly in offshore engineering and nuclear power equipment, the company is expected to gain a larger share of these markets.
