Huayou Cobalt
Tongxiang-based, Shanghai-listed producer of cobalt chemicals and lithium battery materials with mining and refining in Africa and Indonesia. Founded in 2002.
Industry: Cobalt and lithium battery materials | Location: Tongxiang, China | Founded: 2002
About Huayou Cobalt
Zhejiang Huayou Cobalt Co., Ltd. is a Chinese maker of lithium battery materials and cobalt-based materials, headquartered in Tongxiang, Zhejiang. Its website groups the business into Africa resources, Indonesian nickel, non-ferrous metals, new materials, new energy and recycling, and says the group has more than 35,000 employees.
The company was founded in 2002 and listed on the Shanghai Stock Exchange in 2015 under the code 603799. Its history page says chairman Chen Xuehua first travelled to Africa in 2003 to invest in cobalt resources. Huayou New Energy Technology (Quzhou), founded in 2016, marked the move from cobalt into lithium battery materials, and the 2021 acquisition of B&M Science & Technology completed what the company calls an integrated industrial chain.
In Africa, Huayou lists the CDM copper mine project in the Democratic Republic of the Congo and, in Zimbabwe, the Arcadia lithium mine and a lithium sulfate smelter. In Indonesia it lists the Weda Bay industrial park and hydrometallurgical nickel projects in Sulawesi and Halmahera. Its new energy business makes cathode materials and ternary precursors at bases in Chengdu, Tianjin, Guangxi, Quzhou and Europe.
Huayou works with LG Chem. LG Chem's history lists a 2022 cathode joint venture in Gumi with B&M, a Huayou subsidiary, and in September 2023 the two companies signed a memorandum for a lithium iron phosphate cathode plant and a lithium conversion plant in Morocco. In September 2026 a Huayou subsidiary led four national industry standards for cobalt and nickel smelting, and its Zimbabwe subsidiary Arcadia Technology reported ISO 37301 compliance management certification from BSI.
For the first half of 2025 Huayou reported revenue of CNY 37.2 billion and net profit of CNY 2.71 billion. In the first quarter of 2026 operating income was CNY 25.8 billion, up 44.62 percent, and net profit attributable to shareholders was CNY 2.50 billion, up 99.45 percent. Total assets were CNY 174.7 billion on 31 March 2026. Huayou Holding Group ranked 78th on the 2026 list of China's top 500 private enterprises.
Leadership
- Chen Xuehua, Chairman, Huayou Holding Group