Huh Je-hong, CEO of L&F, said, "This year is a turning point to move beyond the chasm (a temporary demand lull) and enter a new growth phase," adding, "Based on two growth engines, NCM (nickel cobalt manganese) and LFP (lithium iron phosphate), we will achieve the highest shipments ever this year and enhance shareholder value."
According to L&F on the 26th, at the 26th annual general meeting of shareholders held the previous day at L&F's Daegu headquarters, Huh emphasized this year's goals and made the remarks.
Huh said, "Even amid a global slowdown in electric vehicle demand over the past two years, we built a foundation for growth through outstanding technology and preemptive investment," adding, "In the fourth quarter of last year, we ranked No. 1 in the industry in both sales and operating profit."
L&F plans to grow this year with a focus on NCM and LFP. In NCM, it aims to expand shipments of 46-diameter batteries and target the North American market, leveraging its exclusive supplier status for ultra high-nickel NCMA95.
The LFP business plans to expand its applications from energy storage systems (ESS) to electric vehicles and data centers. It is also planning next-generation material development, including solid-state batteries, and expansion into new applications such as robotics, space, and defense.
At the shareholders meeting, L&F reported to shareholders on the status of audits, sales, and internal accounting control systems, and submitted a total of eight agenda items, including ▲ approval of financial statements ▲ transfer of capital surplus to retained earnings ▲ partial amendments to the articles of incorporation ▲ appointment of directors ▲ approval of director compensation limits, all of which were approved as proposed.
At the meeting, Ryu Seung-heon, CFO of L&F, was newly appointed as an inside director. Outside director Park Ki-seon was reappointed. Outside director Kim Kyoung-hee was also newly appointed.