# Who are BTR New Material Group Co., Ltd's customers? Who does BTR New Material Group Co., Ltd earn revenue from?
Canonical: https://valuechain.wiki/btr-new-material · Facet: customers · Updated: 2026-07-12T06:19:05.041782+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: BTR New Material Group Co., Ltd's confirmed revenue counterparties include CATL, BYD, Panasonic Energy plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 4 revenue edges, backed by 7 dated sources, 2 of them primary filings (as of 2026-07-12).

### CATL (high)  → /catl.md
- metric: Market share 21% · 2025 · BTR global anode shipment share (retained No.1; FY2025 shipments ~600kt)
- note: BTR supplies anode material to CATL, the world's largest battery cell maker, as a core customer.
- [confirms] Exchange filing (cninfo/BSE) (ZH, filing, published 2026-04-24) http://dataclouds.cninfo.com.cn/sjother2/bse_onmarket/2026/20260424/7fb34b543ff011f18c72fa163e296ac0.pdf: "FY2025 annual report: revenue RMB16.983bn (+19.29%), anode shipments ~600kt (+40%), No.1; anode revenue RMB13.515bn (79.58%). Supplies major cell customers incl. CATL."
- [confirms] Securities Times (STCN) (ZH, news, published 2026-04-24) https://www.stcn.com/article/detail/3815875.html: "2025 revenue RMB16.983bn (+19.29%), net income attrib. RMB875m (-5.93%), operating profit RMB1.340bn (+16.71%)."
- [mentions] vzkoo research (ZH, research, published 2025-09-05) https://www.vzkoo.com/read/20250905b4c63a4fec80bc3b9de5418c.html: "Research: battery-materials solutions leader; anode volume growth and 70%+ silicon-anode share; ASP rebound is the key."
- [confirms] Sina disclosure (BSE filing) (ZH, filing, published 2025-04-25) https://money.finance.sina.com.cn/corp/view/vCB_AllBulletinDetail.php?stockid=835185&id=10880465: "Per the 2024 annual report: revenue RMB 14.237B, world No.1 anode shipments (21%+ share, 15 straight years), supplying CATL and other major cell makers."
- [confirms] BTR New Material (EN, ir, published 2024-08-07) https://www.btrchina.com/en/News/info.aspx?itemid=1243: "BTR states it supplies anode materials to major lithium-ion battery makers including Panasonic, Samsung SDI, LG Energy Solution, SK On, CATL and BYD."
- [confirms] OFweek Li-Battery (ZH, news, published 2021-11-17) https://libattery.ofweek.com/2021-11/ART-36002-8460-30535283.html: "The article names BTR's main customers as CATL, BYD, Panasonic, Samsung SDI, LG and SK."

### BYD (high)  → /byd.md
- note: BTR supplies anode material to BYD, China's largest EV and battery maker.
- [confirms] PR Newswire (EN, news, published 2024-08-07) https://www.prnewswire.com/news-releases/btrs-indonesian-facility-becomes-largest-anode-plant-outside-china-302216431.html: "The article names BTR's major clients as Panasonic, Samsung SDI, LGES, SK On, CATL and BYD."
- [confirms] OFweek Li-Battery (ZH, news, published 2021-11-17) https://libattery.ofweek.com/2021-11/ART-36002-8460-30535283.html: "The article names BYD among BTR's main customers alongside CATL and Panasonic."

### Panasonic Energy (high)  → /panasonic-energy.md
- note: BTR supplies anode material to Panasonic, a core overseas customer that makes cylindrical cells for Tesla.
- [confirms] BTR New Material (EN, ir, published 2024-08-07) https://www.btrchina.com/en/News/info.aspx?itemid=1243: "BTR states it supplies anode materials to major lithium-ion battery makers including Panasonic."
- [confirms] OFweek Li-Battery (ZH, news, published 2021-11-17) https://libattery.ofweek.com/2021-11/ART-36002-8460-30535283.html: "The article names Panasonic among the main buyers of BTR's natural-graphite anode material."

### Korean cell makers (LG Energy Solution, SK On, Samsung SDI) (mid)
- note: The three Korean cell makers (LG Energy Solution, SK On, Samsung SDI) are also major overseas customers of BTR.
- [confirms] BTR New Material (EN, ir, published 2024-08-07) https://www.btrchina.com/en/News/info.aspx?itemid=1243: "BTR supplies anode material to leading overseas cell makers including Samsung SDI, LG Energy Solution and SK On."

Reverse side: https://valuechain.wiki/btr-new-material/suppliers.md · Ripple: https://valuechain.wiki/btr-new-material/ripple.md

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