# Who are Ronbay Technology's customers? Who does Ronbay Technology earn revenue from?
Canonical: https://valuechain.wiki/ronbay · Facet: customers · Updated: 2026-07-12T08:25:22.56643+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Ronbay Technology's confirmed revenue counterparties include CATL, SK이노베이션(SK온). Per the valuechain.wiki graph: 2 revenue edges, backed by 7 dated sources, 2 of them primary filings (as of 2026-07-12).

### CATL (high)  → /catl.md
- metric: customer concentration 54.54% · FY2024 · Largest single customer (=CATL) share of annual revenue; anonymized in filing, identified via media
- note: CATL is Ronbay's largest customer. The FY2024 report's anonymized 'largest customer' (RMB 8.23bn, 54.54% of sales) is identified as CATL via media cross-referencing. Ronbay is CATL's #1 ternary cathode-powder supplier (2022-2025) and #1 sodium-ion cathode-powder supplier, with CATL committing to source ≥60% of its sodium cathode powder from Ronbay through 2029. This concentration is Ronbay's central risk.
- [mentions] Analyst (via BigGo) (EN, research, published 2026-07-01) https://finance.biggo.com/news/35c20ff1-f922-41a4-baff-51e41b8314dc: "Ronbay FY2025 revenue RMB 12.268bn (-18.7%); sodium-ion/LMFP and Q2 2026 profit surge signal turnaround"
- [mentions] Shanghai Stock Exchange STAR Market (ZH, filing, published 2025-04-30) https://star.sse.com.cn/disclosure/listedinfo/announcement/c/new/2025-04-30/688005_20250430_CSLQ.pdf: "Major customers include CATL-SAIC and other global top power-battery makers; 2024 ternary cathode global market share exceeded 12%."
- [confirms] Shanghai Stock Exchange (hosted via Sina Finance) (ZH, filing, published 2025-04-10) http://file.finance.sina.com.cn/211.154.219.97:9494/MRGG/CNSESH_STOCK/2025/2025-4/2025-04-10/10858685.PDF: "Top-5 customer sales were RMB 11.94bn, 79.10% of total annual sales; the largest customer's sales were RMB 8.23bn, 54.54% of total."
- [confirms] NE Time (ZH, news, published 2024-11-01) https://ne-time.cn/web/article/37116: "Ronbay was formally established as CATL's #1 sodium-ion cathode-powder supplier; CATL commits to purchase no less than 60% of its annual sodium cathode-powder demand from Ronbay; valid to Dec 31 2029 with auto-renewal."

### SK이노베이션(SK온) (mid)  → /sk-innovation.md
- metric: Amount ¥12.3B · Ronbay FY2025 매출(-18.7%)
- note: In March 2024 Ronbay signed an MOU with SK On for comprehensive cooperation in ternary and LMFP cathodes, technical cooperation, product development and sales, to introduce Ronbay materials into SK On and its downstream automakers. Ronbay also runs Chungju subsidiary JAESE (JS Energy, 70kt/yr high-nickel cathode) to serve Korean battery giants and bypass US/EU tariffs. Marked mid as large-scale commercial supply is not yet confirmed.
- [confirms] THE ELEC (KO, news, published 2025-04-01) https://www.thelec.kr/news/articleView.html?idxno=54237: "Held a 3rd-plant startup ceremony in Chungju's foreign industrial complex, building a 70,000-t/yr cathode production system to strengthen material supply to battery and automaker customers."
- [confirms] China Securities Journal (cs.com.cn) (ZH, news, published 2024-03-26) https://www.cs.com.cn/ssgs/gsxw/202403/t20240326_6397164.html: "The company signed an MOU with SK On Co., Ltd. for full, deep cooperation in ternary and LMFP cathodes—including technical cooperation, product development and sales; Ronbay materials will be introduced into SK On and its end customers."
- [confirms] Yicai Global (EN, news, published 2024-01-01) https://www.yicaiglobal.com/news/chinas-ronbay-to-invest-usd362-million-to-build-two-battery-materials-plants-in-south-korea: "Ningbo Ronbay New Energy Technology will spend CNY2.6 billion (USD362 million) to construct two battery materials factories in Chungju, South Korea, to better meet demand from South Korean battery giants."

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

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