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Sen Yue Holdings Ltd. ( (SG:5BS) ) just unveiled an update.
Sen Yue Holdings Limited has faced a significant revenue decline in its resource recovery segment, primarily due to an industry shift from nickel cobalt manganese (NCM) to lithium iron phosphate (LFP) batteries, which reduced demand for ‘black mass’ powder. Despite this, the company has invested $3.58 million in a new battery processing line to enhance its lithium-ion battery recovery capabilities, increasing its processing capacity and recovery rate. The company is actively monitoring industry developments and exploring new technologies to capitalize on the potential growth of LFP batteries, positioning itself to adapt to market changes.
More about Sen Yue Holdings Ltd.
Sen Yue Holdings Limited operates in the resource recovery industry, focusing on the treatment and recycling of industrial waste, electronic waste, and lithium-ion batteries. The company is particularly focused on serving the electric vehicle (EV) industry, aiming to be a key player in the EV ecosystem’s circular economy.
Current Market Cap: S$21.65M
For a thorough assessment of 5BS stock, go to TipRanks’ Stock Analysis page.