证券代码：002340 证券简称：格林美 公告编号：2025-104 格林美股份有限公司 关于变更公司办公地址的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 为满足格林美股份有限公司（以下简称"公司"）经营需要，开启公司发展 新篇章，创建世界一流绿色产业集团，公司于近日搬迁至新办公地址，为便于投 资者与公司沟通交流，做好投资者关系管理工作，现将公司办公地址变更的具体 情况公告如下： | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 办公地址 | 深圳市宝安区宝安中心区兴华路 | 深圳市宝安区新安街道海旺社区 | | | 南侧荣超滨海大厦A栋20层 | 宝兴路88号星通大厦43楼 | | 邮政编码 | 518101 | 518100 | 邮政编码：518100 联系电话：0755-33386666 传 真：0755-33895777 电子信箱：info@gem.com.cn 特此公告！ 格林美股份有限公司董事会 二〇二五年十月八日 公司董事会秘书、证券事务代表联系地址、信息披露及备置地点同步变更。 除上述变更外，公司联 ...

Core Viewpoint - The power battery recycling sector has experienced significant growth, with a notable increase of 3.28% on September 30, driven by strong performances from several companies in the industry [1] Company Performance - Hunan Youneng saw a remarkable increase of 10.86% in its stock price [1] - Xiongtao Co., Ltd. experienced a rise of 10.02% [1] - Huayou Cobalt's stock price increased by 10.01% [1] - Other companies such as Hanrui Cobalt and Tengyuan Cobalt also saw gains exceeding 5% [1]

Summary of Key Points Core Viewpoint The Hong Kong stock market has seen significant activity from September 21 to September 27, with 25 companies submitting prospectuses, 3 companies passing hearings, and 2 new stocks successfully listed. Group 1: Companies Submitting Prospectuses - A total of 25 companies submitted listing applications to the Hong Kong Stock Exchange during the specified period, including major players like 大洋电机, 天赐材料, and 格林美 [2][4][5] - Notably, 12 of these companies have already listed on the A-share market, indicating a trend towards dual listings in both A and H shares [2][4] Group 2: Companies Passing Hearings - Three companies successfully passed hearings: 长风药业, 挚达科技, and 金叶国际 [30] - 长风药业 focuses on biopharmaceuticals for respiratory diseases, with projected revenues of 6.08 billion RMB in 2024 [31] - 挚达科技 is the largest provider of home electric vehicle charging stations globally, with revenues of 5.9 billion RMB in 2024 [32] - 金叶国际 is a long-established electromechanical engineering contractor, specializing in HVAC systems [33] Group 3: Companies in the IPO Process - Five companies are currently in the IPO process, including 长风药业, 紫金黄金国际, 西普尼, 博泰车联, and 奇瑞汽车 [34] - 奇瑞汽车 successfully listed on September 25, with a first-day stock price increase of 13.75% [41][43] Group 4: Financial Performance of Companies - 大洋电机 reported total revenues of approximately 109.3 billion RMB in 2022, with a projected increase to 121.13 billion RMB in 2024 [5] - 天赐材料's revenues were approximately 223.17 billion RMB in 2022, expected to decline to 125.18 billion RMB in 2024 [6] - 格林美's revenues were around 293.92 billion RMB in 2022, projected to reach 332.00 billion RMB in 2024 [7] - 万辰集团, a leading snack and beverage retailer, reported revenues of 5.49 billion RMB in 2022, with a significant increase to 323.29 billion RMB in 2024 [10] Group 5: Market Trends and Insights - The trend of companies seeking dual listings in both A and H shares is becoming more prevalent, reflecting a strategic move to access broader capital markets [2][4] - The overall activity in the Hong Kong IPO market indicates a robust interest from companies looking to capitalize on the favorable market conditions [2][30]

Group 1 - The core viewpoint of the article is that Greeenmei Co., Ltd. is pursuing an H-share listing on the Hong Kong Stock Exchange to accelerate its global expansion in the circular economy sector [1][2][4] - Greenmei's business encompasses two main areas: the production of ternary precursor materials and resource recycling, establishing a comprehensive value chain in the new energy lifecycle [2][3] - In the first half of 2025, Greenmei achieved a revenue of 17.561 billion yuan, a year-on-year increase of 1.28%, and a net profit attributable to shareholders of 799 million yuan, reflecting a growth of 13.91% [2] Group 2 - The H-share listing faces dual challenges: intensifying competition in the global new energy supply chain and the immature valuation logic of circular economy companies in the Hong Kong market [3] - Successful H-share IPO would be a critical step in Greenmei's global capital layout, with significant funding needed for its nickel production expansion in Indonesia and the deployment of intelligent dismantling equipment [3] - The listing represents a deep engagement of a circular economy leader with the capital market and reflects the transformation and upgrading of China's manufacturing industry [4]

Group 1 - The rare earth permanent magnet sector experienced a significant upward trend on September 29, with notable stock performances [1] - Wolong New Energy reached the daily limit increase, while Hengdian East Magnetic surged over 8% [1] - Other companies such as Galaxy Magnet, Huicheng Environmental Protection, Lingyi Zhizao, and Greeenmei also saw increases in their stock prices [1]

Core Viewpoint - The rare earth permanent magnet sector is experiencing a significant upward trend, with notable stock price increases among key companies in the industry [1] Group 1: Company Performance - Wolong New Energy has reached its daily limit increase in stock price [1] - Hengdian East Magnetic has seen a stock price increase of over 8% [1] - Other companies such as Galaxy Magnetic, Huicheng Environmental Protection, Lingyi Zhizao, and Greeenmei have also experienced stock price increases [1]

Core Viewpoint - The article discusses the significant advancements in the industrialization of lithium manganese-rich (LMR) materials, particularly focusing on their applications in high-voltage and low-cost battery technologies, highlighting the parallel development paths and the potential for solid-state battery systems. Group 1: Industrialization Progress - The industrialization of lithium manganese-rich materials has accelerated since 2025, with companies like Ningxia Hanyao achieving an annual shipment of nearly 3,000 tons, primarily for applications below 4.5V [3][13][14] - Ningxia Hanyao has established a production line capable of producing tens of thousands of tons of LMR materials, while other companies like Ningbo Fuli and Rongbai Technology are also ramping up production capabilities [14][15][16] Group 2: High Voltage Applications - The global power battery industry is targeting energy densities of 500Wh/kg and above, with solid-state battery systems seen as a key pathway to achieve this goal [6] - Companies like Funeng Technology are making strides in solid-state battery industrialization, with plans to deliver high nickel ternary and high silicon anode systems [6][20] - High-voltage LMR materials are considered ideal for high energy density applications, although challenges such as irreversible anion oxidation reactions and interface stability remain [6][17] Group 3: Low-Cost Pathways - LMR materials are being explored for cost-effective applications, particularly in entry-level electric vehicles, with General Motors and LG Energy Solution planning to mass-produce LMR batteries by 2028 [2][10] - The cost advantages of LMR materials are expected to make them competitive with lithium iron phosphate (LFP) batteries, especially in the entry-level market [11][12] Group 4: Collaborative Development - Collaborative development models are emerging as crucial for the industrialization of LMR materials, with companies like Ningxia Hanyao working closely with battery manufacturers and research institutions to address engineering challenges [18][20] - The next five years are seen as a critical period for the industrialization of LMR materials, with expectations for multiple engineering samples to be launched by late 2026 or early 2027 [19][20]

Core Viewpoint - The Democratic Republic of Congo (DRC) has extended its cobalt export ban until October 15, leading to a significant increase in cobalt prices, which have risen nearly 40% this year [1][4]. Supply and Demand Dynamics - The DRC's cobalt production accounts for 76% of global supply, and the extension of the export ban is expected to reduce cobalt supply by approximately 141,600 tons during the ban period, nearly half of the global cobalt production in 2024 [3][5]. - Cobalt prices have increased from $14 per pound at the beginning of the year to $19.5 per pound as of September 24, reflecting a significant tightening of supply [4]. Industry Impact - Companies in the cobalt supply chain, such as Luoyang Molybdenum, Huayou Cobalt, and Greeenmei, have seen their stock prices rise significantly, with Luoyang Molybdenum up 10.87%, Huayou Cobalt up 7.85%, and Greeenmei up 4.41% in the week leading up to September 25 [3][8]. - Analysts predict that the rising cobalt prices will lead to improved earnings for related companies, with Luoyang Molybdenum's stock price increasing over 115% this year and Huayou Cobalt's stock price increasing over 92% [8]. Future Outlook - The export quota policy is expected to create a global cobalt supply gap of over 300,000 tons in the next three years, with significant shortages anticipated in domestic cobalt supply by February next year [6][7]. - The demand for cobalt is expected to rise due to the increasing need for electric vehicles and other technologies, suggesting that cobalt prices may continue to rise [5][7]. Strategic Positioning - Greeenmei has positioned itself well in the market, with its cobalt recycling capabilities exceeding 350% of China's cobalt mining output, and its production in Indonesia showing significant growth [9]. - Analysts suggest that companies with strong resource reserves and production capabilities, particularly in Indonesia, will be better positioned to benefit from the evolving market dynamics [10][12].

Battery - Chuangneng New Energy launched a new generation 588Ah energy storage battery with an energy density of 190Wh/kg and a volume energy density of 419Wh/L, achieving an energy efficiency of 96.5%. The company plans to have over 200GWh of production capacity, with small-scale production expected in Q2 2026 and full-scale production in Q3 2026 [1] - EVE Energy's first large-capacity sodium-ion battery energy storage system has successfully entered commercial operation, featuring a cycle life of over 30,000 times and operational capabilities in a temperature range of -40℃ to +60℃, significantly reducing lifecycle carbon emissions by over 42% compared to lithium-ion batteries [2][3] Materials - Greenme's Qingmeibang park has opened a nickel electroplating production line with an annual capacity of 30,000 tons, achieving a nickel plate product purity of over 99.97%, contributing to a total global production capacity of 60,000 tons for Greenme [5][6] - Tianqi Lithium's battery-grade lithium hydroxide project, with a total investment of approximately 1.8 billion yuan, has been completed and put into production in Jiangsu Zhangjiagang Free Trade Zone [7] - Tibet Mining's battery-grade lithium carbonate project has officially commenced production, utilizing a complex membrane separation and MVR lithium extraction process, marking a significant achievement in challenging high-altitude conditions [8] Equipment - Mannesmann has completed the dual-line product layout for solid-state batteries, with multiple devices shipped and customer validation achieved [10] Battery Recycling - A project for processing waste lithium batteries has been publicly announced, aiming to handle approximately 11,000 tons of waste batteries annually using a low-temperature physical crushing technology developed by Southern University of Science and Technology, which avoids the pollution and high energy consumption associated with traditional methods [11]

9月20日上午，格林美印尼青美邦园区举行年产3万吨电积镍产线开通仪式。随着产线开通，格林美电积 镍全球年产能达到6万吨。 ...