# Who are Chunbo's customers? Who does Chunbo earn revenue from?
Canonical: https://valuechain.wiki/chunbo · Facet: customers · Updated: 2026-07-12T06:17:21.21515+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Chunbo's confirmed revenue counterparties include LG Energy Solution, Samsung SDI, CATL plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 4 revenue edges, backed by 5 dated sources, 2 of them primary filings (as of 2026-07-12).

### LG Energy Solution (high)  → /lg-energy-solution.md
- note: Supplies electrolyte salts and additives to LG Energy Solution — with Samsung SDI, a materials-bottleneck position serving Korea's two leading cell makers.
- [confirms] THE ELEC (EN, news, published 2021-01-25) https://www.thelec.net/news/articleView.html?idxno=2238: "Chunbo supplies LiPO2F2 and other salts and additives to cell makers including LG Energy Solution."

### Samsung SDI (high)  → /samsung-sdi.md
- note: The largest customer for Chunbo's electrolyte additives — supplying electrolyte salts (LiFSI, LiPO2F2) and functional additives. The concentration on Samsung SDI is both stable volume and single-customer risk.
- [confirms] DART (FSS) (KO, filing, published 2026-03-16) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260316001151: "Battery-materials segment FY2025 revenue KRW 67.9bn; consolidated revenue KRW 133.8bn, OP KRW 3.7bn (returned to profit)."
- [mentions] Shinyoung Securities (KO, research, published 2025-12-09) https://news.nate.com/view/20251209n05559: "Analysts: P-electrolyte monopoly, non-China LiFSI leader; LiFSI confirmed for Tesla Cybercab."
- [mentions] KRX KIND (KO, filing, published 2024-03-13) https://kind.krx.co.kr/common/disclsviewer.do?method=searchInitInfo&acptNo=20240313002364: "Chunbo's annual business report filed with the Korea Exchange."
- [confirms] THE ELEC (EN, news, published 2021-01-25) https://www.thelec.net/news/articleView.html?idxno=2238: "Chunbo supplies LiPO2F2 and other salts and additives to LG Energy Solution, Samsung SDI, SK Innovation, CATL and Japan's Central Glass, with Samsung SDI the main additives customer."
- [confirms] BusinessKorea (EN, news, published 2020-09-22) https://www.businesskorea.co.kr/news/articleView.html?idxno=52177: "Chunbo manufactures electrolytes and the world's widest range of electrolyte additives; its key products are LiPO2F2 (P derivatives) and LiFSI (F derivatives)."

### Central Glass (mid)
- note: Beyond cell makers, it supplies LiPO2F2 and other salts to Japanese electrolyte formulator Central Glass — a dual channel of direct-to-cell and via-formulator sales.
- [confirms] THE ELEC (EN, news, published 2021-01-25) https://www.thelec.net/news/articleView.html?idxno=2238: "Chunbo's LiPO2F2 is supplied to Japan's Central Glass and the major battery makers."

### CATL (mid)  → /catl.md
- note: Also supplies electrolyte salts and additives to CATL, the world's largest cell maker, but with China localizing materials, the China mix has shrunk versus the past — a growth option and a geopolitical variable.
- [confirms] THE ELEC (EN, news, published 2021-01-25) https://www.thelec.net/news/articleView.html?idxno=2238: "Chunbo supplies LiPO2F2 and other salts to major battery makers including CATL."

Reverse side: https://valuechain.wiki/chunbo/suppliers.md · Ripple: https://valuechain.wiki/chunbo/ripple.md

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Full node: https://valuechain.wiki/chunbo.md · JSON: https://valuechain.wiki/chunbo.json