Financial Performance - In 2024, the company achieved a revenue of CNY 33.2 billion, a year-on-year increase of 8.75%, marking a historical high [3] - The net profit attributable to shareholders reached CNY 1.02 billion, up 9.19% year-on-year [3] - In Q1 2025, the company reported a revenue of CNY 9.496 billion, a 13.67% increase compared to the same period last year [3] - The net profit for Q1 2025 was CNY 511 million, reflecting a 12.10% year-on-year growth [3] Market Trends and Challenges - The global ternary battery market share is declining, with domestic share dropping to 18% in 2024, posing strategic challenges [2] - By 2030, the global market for ternary batteries and lithium iron phosphate (LFP) batteries is expected to balance out [2] - The company anticipates a significant increase in the recycling of retired power batteries, with an estimated utilization of over 300,000 tons in 2024 [6] Innovation and Technology - The company has invested CNY 8 billion in technology, achieving significant breakthroughs in nickel resources, ternary precursors, and battery recycling [2][3] - The company has developed a complete CTP battery pack disassembly process with a disassembly yield exceeding 92%, significantly higher than the industry average of 80% [5] - The company is focusing on digital upgrades and AI integration to enhance operational efficiency and innovation [3] Strategic Initiatives - The company aims to achieve a revenue target of CNY 60 billion by 2027, emphasizing resource recycling and new energy material manufacturing [6] - Plans for 2025 include expanding production capacity and forming strategic alliances to enhance competitiveness [3][4] - The company is actively pursuing global partnerships to mitigate trade challenges and enhance market stability [6] Environmental and Regulatory Factors - The company is adapting to changes in electronic waste subsidy policies, which have led to a reduction in electronic waste dismantling scale [4] - The company is committed to sustainable practices, focusing on low-carbon nickel resource products to align with global environmental standards [17] Talent and Management - The company has implemented a talent reserve strategy, focusing on recruiting innovative and globally-minded individuals to strengthen its management team [4] - A new management team has been appointed to navigate future challenges and drive international expansion [4] Financial Strategy - The company plans to optimize its capital structure and enhance shareholder value through share buybacks and dividend policies [22] - The company is exploring overseas financing options, including issuing H-shares and green bonds, to support its global expansion [20]

证券代码：002340 证券简称：格林美 公告编号：2025-067 截至2025年4月30日，公司通过回购专用证券账户以集中竞价交易方式累计 回购公司股份20,358,500股，占公司目前总股本的0.40%，最高成交价为人民币 7.01元/股，最低成交价为人民币5.85元/股，成交总金额为人民币136,743,597元（不 含交易费用）。本次回购股份资金来源为公司自有资金和股票回购专项贷款资金。 本次回购符合相关法律法规及公司既定的回购股份方案的要求。 二、其他说明 公司回购股份的时间、回购股份的数量、回购股份的价格及集中竞价交易的 委托时间段均符合《深圳证券交易所上市公司自律监管指引第9号——回购股份》 及公司回购股份方案的相关规定。 格林美股份有限公司 关于回购公司股份的进展公告 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。 格林美股份有限公司（以下简称"公司"）基于对公司未来发展前景的信心 以及对公司价值的高度认可，分别于2025年1月19日召开第六届董事会第三十三 次会议和第六届监事会第二十八次会议、2025年2月13日召开2025年第二次临时 股 ...

Investment Rating - The report maintains a "Strong Buy" investment rating for the company [2][7]. Core Insights - The company's revenue for 2024 reached 33.2 billion yuan, a year-on-year increase of 8.7%, with a net profit attributable to shareholders of 1.02 billion yuan, up 9.2% year-on-year [1]. - The company has seen significant growth in its key products, with a notable increase in the sales volume of nickel resources and precursor materials [7]. - The report highlights a strong performance in Q1 2025, with revenue of 9.5 billion yuan, a year-on-year increase of 13.7%, and a net profit of 510 million yuan, up 12.1% year-on-year [1][7]. Financial Performance - In 2024, the company achieved a gross profit margin of 15.3%, with a net profit margin of 3.1% [16]. - The projected revenue growth for 2025 is estimated at 31%, reaching 43.5 billion yuan, with net profit expected to increase by 70% to 1.74 billion yuan [9][15]. - The company's return on equity (ROE) is projected to improve from 5.3% in 2024 to 8.6% in 2025 [16]. Production and Capacity - The company plans to increase its production capacity significantly, targeting 200,000 tons of ternary precursors and 40,000 tons of cobalt products by 2025 [1][7]. - The nickel resource project in Indonesia is expected to produce 52,000 tons of nickel metal in 2024, a 91% increase year-on-year [7]. Market Position - The company holds a market capitalization of 31.4 billion yuan, with a price-to-earnings (PE) ratio of 30.7 for 2024, expected to drop to 18.0 by 2025 [2][9]. - The report indicates that the company is well-positioned to benefit from the growing demand for new energy battery materials, with a focus on maintaining profitability through controlled capacity growth [1][7].

Group 1 - The core viewpoint of the news is that Greeenmei (002340.SZ) reported its Q1 2025 results, highlighting the institutional investor landscape and changes in shareholding [1] - As of April 30, 2025, 53 institutional investors disclosed holding shares in Greeenmei A-shares, totaling 842 million shares, which represents 16.43% of the total share capital [1] - The top ten institutional investors collectively hold 15.20% of the shares, with a decrease of 1.05 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, there were 7 funds that increased their holdings, including major funds like the China Merchants CSI Battery Theme ETF and Tianhong CSI New Energy Index Enhanced A [2] - Conversely, 36 public funds reduced their holdings, with a decrease rate of 0.50%, including funds like Southern CSI 500 ETF and Huaxia CSI New Energy Vehicle ETF [2] - There were 5 newly disclosed public funds this quarter, while 287 funds were not disclosed again, indicating a significant turnover in the public fund landscape [2] Group 3 - Foreign investment sentiment showed a decrease in holdings from one foreign fund, Hong Kong Central Clearing Limited, with a reduction rate of 0.23% [2]

6月会议预告 2025高工钠电 产业峰会 主办单位： 高工钠电、高工产业研究院（GGII） 总冠名： 众钠能源 会议时间： 6月9日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025高工固态电池 技术与应用峰会 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 总冠名： 利元亨 会议时间： 6月10日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 全球锂电池回收赛道正变得日益拥挤和复杂。行业参与者面临双重压力：一边是欧盟等地日趋严格的回收法规与材料再生目标步步紧逼，另一边则是 上游材料价格波动对回收经济性构成的严峻考验。 此背景下，从电池制造商、材料巨头到专业的第三方回收商乃至汽车主机厂，各路玩家纷纷加速布局。 同时 ，他们的路径选择、技术侧重和商业模式呈现出显著差异，推动着整个产业链加速形成闭环。 市场 近况 ：产能增长趋缓，盈利挑战浮现 中国作为全球最大的电池市场，已初步建立起庞大的回收处理体系。 截至 2024 年底，官方认证的锂离子电池梯次利用和拆解回收总产能合计达到 423.3 万吨 / 年，其中回收拆解利用产能略超梯次利用产能。 一个值得关注的信号是，行 ...

Core Viewpoint - The company has reported significant growth in its first quarter of 2025, with record high sales revenue, net profit, and operating cash flow, driven by strong demand in its dual-track business model of urban mining and new energy materials manufacturing [24][25]. Financial Performance - The company achieved operating revenue of 9.496 billion yuan, a year-on-year increase of 13.67% [24] - Net profit attributable to shareholders reached 511 million yuan, up 12.10% year-on-year [24] - The net cash flow from operating activities was 634 million yuan, reflecting a substantial increase of 77.92% compared to the previous year [24] - Investment income surged by 1.35 billion yuan, marking a growth of 4,103.55% due to the sale of ECOPRO MAT shares [4] Business Operations - The average capacity utilization rate for core products exceeded 97%, with a strong average shipment growth rate of approximately 42% [24] - Nickel resource MHP shipments exceeded 25,000 tons, showing a significant year-on-year increase of over 138% [7] - The company has successfully completed the election of a new management team, focusing on attracting young and innovative talent to enhance its competitive edge [9][10] Strategic Initiatives - The company has initiated a global supplier alliance to address trade challenges and enhance market stability, involving over 120 global suppliers [13][25] - Strategic partnerships have been established with ECOPRO and other firms to develop an integrated supply chain for nickel resources and precursor materials in Indonesia [14][25] - The company is actively pursuing overseas capital market development, including plans for H-share issuance in Hong Kong [16] ESG and Social Responsibility - The company has signed a memorandum of understanding with UNU Yogyakarta University in Indonesia to promote higher education cooperation, reflecting its commitment to social responsibility and cultural exchange [17] - The company has achieved ISO37301 compliance management system certification, enhancing its risk management capabilities [19] Governance and Shareholder Engagement - The company has completed a new round of share repurchase amounting to 137 million yuan, aimed at boosting market confidence [16][37] - The company has consistently maintained high standards in information disclosure, receiving an A rating for eleven consecutive years from the Shenzhen Stock Exchange [36]

证券代码：002340 证券简称：格林美 公告编号：2025-064 格林美股份有限公司 第七届监事会第三次会议决议公告 本公司及监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。 一、监事会会议召开情况 2025年4月28日，格林美股份有限公司（以下简称"公司"）第七届监事会第三次 会议在公司会议室以现场和视频相结合的表决方式召开，会议通知已于2025年4月 26日分别以书面、传真或电子邮件等方式发出。应出席会议的监事4名，实际参加会 议的监事4名。出席会议的人数超过监事总数的二分之一，表决有效。会议由监事会 主席鲁习金先生主持，本次会议召开的时间、地点及方式均符合《中华人民共和国 公司法》及《公司章程》的有关规定。 二、监事会会议审议情况 1、会议以4票同意、0票反对、0票弃权，审议通过了《2025年第一季度报告》。 公司监事会对《2025年第一季度报告》发表如下审核意见：经审核，监事会认 为董事会编制和审核公司《2025年第一季度报告》的程序符合法律、行政法规和中 国证监会的规定，报告内容真实、准确、完整地反映了公司的实际情况，没有虚假 记载、误导性陈述或者重大遗漏 ...

格林美股份有限公司 第七届董事会第四次会议决议公告 《2025年第一季度报告》详见公司指定信息披露媒体《中国证券报》《证券 时报》《上海证券报》《证券日报》和巨潮资讯网（http://www.cninfo.com.cn）。 证券代码：002340 证券简称：格林美 公告编号：2025-063 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。 一、董事会会议召开情况 格林美股份有限公司（以下简称"公司"）第七届董事会第四次会议通知已于 2025年4月26日分别以书面、传真或电子邮件等方式向公司全体董事发出，会议 于2025年4月28日在公司会议室以现场和视频相结合的表决方式召开。本次会议 应参加会议的董事6人，实际参加会议的董事6人。出席会议的人数超过董事总数 的二分之一，表决有效。会议由公司董事长许开华先生主持，会议召开的时间、 地点及方式均符合《中华人民共和国公司法》及《公司章程》的有关规定。 二、董事会会议审议情况 1、会议以6票同意、0票反对、0票弃权，审议通过了《2025年第一季度报告》。 三、备查文件 经与会董事签字并加盖董事会印章的第七届董事会第四次 ...

证券代码：002340 证券简称：格林美 公告编号：2025-066 格林美股份有限公司（以下简称"公司"或"格林美"）基于对公司全球竞争力、 未来盈利能力与公司股票中长期价值的充分认可，为切实维护公司和全体股东利 益，积极践行"以投资者为本"的上市公司发展理念，提升上市公司治理质量和投 资价值，提振投资者信心，于2024年3月9日发布了《关于"质量回报双提升"行动 方案的公告》（公告编号：2024-011），现将行动方案相关进展情况公告如下： 一、夯实双轨驱动业务模式，提升全球行业核心地位 公司基于"资源有限、循环无限"的产业理念，形成了"城市矿山开采+新能源 材料制造"的双轨驱动业务模式。在城市矿山开采领域，公司回收利用镍钴锂钨 关键矿产资源、退役动力电池、电子废弃物、报废汽车、废塑料等典型废弃物， 构建了"电池回收箱—废弃物回收超市—废弃资源集散大市场—低碳循环工厂— 城市矿山开采产业园"等多层次开采城市矿山的示范模式，实现镍、钴、锂、铜、 锰、钨、金、银、铂、锗、镓、钪等20余种关键矿产资源的再制造，是全球城市 矿山开采的领导者与世界领先的废物循环企业；在新能源领域，公司"把红土镍 矿投进去，把电池材 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥9,495,947,222.52, representing a 13.67% increase compared to ¥8,354,162,360.57 in the same period last year[4] - Net profit attributable to shareholders was ¥511,283,142.90, up 12.10% from ¥456,098,177.39 year-on-year[4] - The net cash flow from operating activities increased by 77.92% to ¥633,949,270.71, compared to ¥356,303,843.48 in the previous year[4] - The total assets at the end of the reporting period reached ¥72,320,115,493.13, an increase of 8.27% from ¥66,796,724,457.19 at the end of the previous year[4] - The company's weighted average return on equity was 2.58%, up from 2.37% in the previous year[4] - The company reported a net profit of ¥445,704,904.86 after deducting non-recurring gains and losses, which is a 17.70% increase from ¥378,679,540.49 in the same period last year[4] - In Q1 2025, the company achieved a revenue of RMB 9.496 billion, representing a year-over-year growth of 13.67%[12] - The net profit attributable to shareholders reached RMB 511 million, up 12.10% year-over-year, while the net profit excluding non-recurring items was RMB 446 million, an increase of 17.70%[12] - The total comprehensive income for the current period was ¥657,367,814.52, compared to ¥440,029,951.54 in the previous period, reflecting an increase of 49.5%[34] - Basic and diluted earnings per share increased to ¥0.10 from ¥0.09 in the previous period[34] Operational Highlights - The average capacity utilization rate for core products exceeded 97%, with a shipment growth rate of approximately 42%[14] - Nickel resource MHP shipments exceeded 25,000 tons, a significant increase of over 138% year-over-year[14] - The company experienced a 235.91% increase in taxes payable, amounting to ¥2.22 billion, due to the sale of ECOPRO MAT shares and the transfer of subsidiary equity[8] - The company achieved a significant increase in inventory, totaling approximately 8.90 billion yuan, compared to 8.77 billion yuan previously[29] Strategic Initiatives - The company completed the election of a new management team, focusing on attracting young, innovative talents to enhance competitiveness[16] - The new generation of ultra-high nickel 9-series core-shell ternary precursors was successfully mass-produced, marking a significant technological achievement and expected to generate over 50,000 tons of incremental market annually[18] - A strategic cooperation agreement was signed with Puhua Co., Ltd. to optimize the nickel resource project in Indonesia, enhancing profitability and competitiveness[19] - The company established a global supplier alliance to effectively respond to tariff trade challenges, involving over 120 global suppliers[19] - A memorandum of understanding was signed with ECOPRO to jointly develop a green industrial park in Indonesia, focusing on a complete supply chain for battery materials[21] - The company signed a strategic cooperation framework agreement with JD Industrial to stabilize the overseas supply chain, aiming to procure goods worth no less than 5 billion yuan through JD's platform[23] - The company plans to issue H shares and list on the Hong Kong Stock Exchange within the year 2025[24] - A new round of share repurchase was launched in January 2025, with the amount reaching 137 million yuan to bolster market confidence[25] - The company signed a memorandum of understanding with UNU Yogyakarta University in Indonesia to promote cooperation in higher education and ESG values[26] Financial Position - Current assets totaled approximately 27.63 billion yuan, up from 25.82 billion yuan at the beginning of the period[29] - Total liabilities increased to approximately 47.13 billion yuan from 43.30 billion yuan[32] - The company's net profit attributable to shareholders reached approximately 6.46 billion yuan, compared to 5.95 billion yuan at the beginning of the period[32] - Long-term borrowings rose to approximately 14.67 billion yuan from 11.70 billion yuan[31] Cash Flow Analysis - Cash flow from operating activities generated a net amount of ¥633,949,270.71, compared to ¥356,303,843.48 in the previous period, marking an increase of 77.57%[36] - Cash flow from investing activities resulted in a net outflow of ¥4,206,412,518.04, worsening from a net outflow of ¥2,660,295,882.32 in the previous period[36] - Cash flow from financing activities yielded a net inflow of ¥4,041,643,992.49, significantly higher than the previous period's net inflow of ¥1,742,451,327.58[37] Other Information - The first quarter report is unaudited[38] - The new accounting standards will be implemented starting in 2025[38] - The financial statement adjustments will be applicable from the beginning of the year in which the new standards are first executed[38] - The board of directors of Greenme Co., Ltd. issued the report on April 28, 2025[38]