Recently, LG Chem released its first-quarter results. The company achieved sales of US $ 5.96 billion, a decrease of 4.5% month-on-month, and an increase of 7.5% year-on-year; operating profit of US $ 200 million, which turned losses into profit, decreased 15.8% year-on-year. Among them, the petrochemical segment sales were US $ 3.1 billion and the operating profit was US $ 200 million; the battery segment sales were US $ 1.89 billion and the operating profit was -US $ 40 million; the cutting-edge materials segment sales were US $ 930 million and the operating profit was US $ 50 million; the life science segment Sales of 130 million US dollars, operating profit of 20 million US dollars.

LG Chemical CFO Che Dongxi said that the first quarter achieved good results that exceeded market expectations, mainly due to improved profitability of major petrochemical products, battery business cost savings led to reduced losses, and cutting-edge materials business structure and cost efficiency optimization . In the later period, the global new coronary pneumonia epidemic and the sharp drop in crude oil prices will bring uncertainty to the performance of the second quarter. LG Chem will focus on improving business efficiency, stabilizing cash flow management, adhering to the three major strategies for expanding future-oriented investment projects, while strengthening risk management, and continuing to expand the foundation of the company's future growth.

In terms of market promotion, LG Chem plans to actively apply carbon nanotubes to the field of lithium batteries to enhance product competitiveness. In addition, it will gradually increase the supply of carbon nanotubes to North American, European, Chinese and other global IT material companies and vehicle customers, and plans to continue to study and expand the production capacity of carbon nanotubes in 2022.