# Who are Yunnan Energy New Material (SEMCORP)'s customers? Who does Yunnan Energy New Material (SEMCORP) earn revenue from?
Canonical: https://valuechain.wiki/yunnan-energy · Facet: customers · Updated: 2026-07-12T08:25:21.877391+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Yunnan Energy New Material (SEMCORP)'s confirmed revenue counterparties include CATL, LG Energy Solution, BYD plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 4 revenue edges, backed by 5 dated sources, 3 of them primary filings (as of 2026-07-12).

### CATL (high)  → /catl.md
- metric: Amount ¥13.6B · Enjie FY2025 매출(+34.13%, 흑자전환)
- note: CATL is a core customer for Enjie's wet-process separators. The two run a 51:49 Xiamen JV separator plant whose output is primarily destined for CATL.
- [confirms] SZSE / Yunnan Energy (ZH, filing, published 2026-04-23) http://file.finance.sina.com.cn/211.154.219.97:9494/MRGG/CNSESZ_STOCK/2026/2026-4/2026-04-23/12145665.PDF: "FY2025 revenue CNY 13.63bn (+34.13%), net profit CNY 143M (turnaround from CNY -556M); separator revenue CNY 12.21bn dominates."
- [mentions] Brokerage view (Stockstar) (ZH, research, published 2026-04-23) https://4g.stockstar.com/detail/RB2026042300058594: "FY2025 turnaround as separator prices bottom; non-GAAP profit CNY 111M, recovery at its start."
- [confirms] Yunnan Energy New Material FY2024 Annual Report (English) (EN, filing, published 2025-06-10) https://www.semcorp.com/Public/Uploads/uploadfile/files/20250610/enjiegufen2024nianniandubaogaoyingwenban.pdf: "States the Company takes large-scale orders from leading battery makers such as LGES, Panasonic, ACC, Ultium Cells, CATL, CALB, EVE and Gotion High-tech, listing CATL among its 50-plus cell customers."
- [confirms] Yunnan Energy New Material FY2024 Annual Report (Chinese) (ZH, filing, published 2025-05-23) https://www.semcorp.com/Public/Uploads/uploadfile2/files/20250523/enjiegufen2024nianniandubaogao.pdf: "The report states the Company has entered the supply chains of over 50 Chinese and overseas cell makers including Panasonic, LGES, ACC, Ultium Cells and CATL, CALB, EVE, BYD and Gotion High-tech."
- [confirms] Yicai Global (EN, news, published 2022-06-21) https://www.yicaiglobal.com/news/catl-yunnan-energy-jv-to-complete-usd770-million-li-ion-separator-plant-by-next-year: "Reports the CATL and Yunnan Energy JV (Yunnan 51%, CATL 49%) built a CNY5.2B (USD770M) Xiamen wet-process separator plant, with output primarily destined for CATL."

### LG Energy Solution (high)  → /lg-energy-solution.md
- metric: Amount ¥13.6B · Enjie FY2025 매출(+34.13%, 흑자전환)
- note: Enjie has signed a long-term supply agreement (LTA) with LG Energy Solution, one of its key overseas customers.
- [confirms] Yunnan Energy New Material FY2024 Annual Report (English) (EN, filing, published 2025-06-10) https://www.semcorp.com/Public/Uploads/uploadfile/files/20250610/enjiegufen2024nianniandubaogaoyingwenban.pdf: "The report states the Company entered into long-term supply agreements with overseas customers such as LGES and Ultium Cells, listing LGES among its leading overseas battery customers."

### BYD (mid)  → /byd.md
- metric: Amount ¥13.6B · Enjie FY2025 매출(+34.13%, 흑자전환)
- note: BYD is listed among Enjie's 50-plus Chinese and overseas cell customers.
- [confirms] Yunnan Energy New Material FY2024 Annual Report (English) (EN, filing, published 2025-06-10) https://www.semcorp.com/Public/Uploads/uploadfile/files/20250610/enjiegufen2024nianniandubaogaoyingwenban.pdf: "The report names over 50 Chinese and overseas lithium-battery firms as customers, including CATL, EVE, CALB, BYD, Gotion High-tech, Farasis and Lishen."

### Panasonic Energy (mid)  → /panasonic-energy.md
- metric: Amount ¥13.6B · Enjie FY2025 매출(+34.13%, 흑자전환)
- note: Panasonic is one of the large overseas battery customers from which Enjie takes large-scale separator orders.
- [confirms] Yunnan Energy New Material FY2024 Annual Report (English) (EN, filing, published 2025-06-10) https://www.semcorp.com/Public/Uploads/uploadfile/files/20250610/enjiegufen2024nianniandubaogaoyingwenban.pdf: "States the Company has entered the supply chains of overseas lithium-battery giants including Panasonic, LGES, ACC and Ultium Cells."

Reverse side: https://valuechain.wiki/yunnan-energy/suppliers.md · Ripple: https://valuechain.wiki/yunnan-energy/ripple.md

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Full node: https://valuechain.wiki/yunnan-energy.md · JSON: https://valuechain.wiki/yunnan-energy.json