LG New Energy Adjusts Its Goal

Cited from: https://pixabay.com/zh/photos/busan-night-scene-bridge-busan-1747130/

On July 27th, LG New Energy announced its second quarter earnings, with steady growth in quarterly revenue and strong performance in the first half of the year. Despite facing uncertainty in the electric vehicle and battery markets, LG New Energy still sets its growth target for 2023 to be around 30% year-on-year growth in annual revenue, an increase from the 25% to 30% growth target announced in January. LG New Energy's comprehensive revenue in the second quarter was 8.774 trillion won, breaking the all-time high quarterly record reached in the previous quarter with a growth rate of 0.3%, with a year-on-year increase of 73%. LG New Energy's operating profit in the second quarter was 461 billion won, a decrease of 27% from the previous quarter and an increase of 136% from the same period last year.