Core Viewpoint - Greeenmei (002340.SZ) has submitted an application for the issuance of overseas listed shares (H-shares) and for listing on the main board of the Hong Kong Stock Exchange on September 22, 2025 [1] Group 1 - The company has filed its application with the Hong Kong Stock Exchange [1] - The application materials for this issuance and listing have been published on the Hong Kong Stock Exchange's website on the same day [1]

格林美公告，公司已于2025年9月22日向香港联合交易所有限公司递交了发行境外上市股份（H股）并 在香港联交所主板挂牌上市的申请，并于同日在香港联交所网站上刊登本次发行上市的申请资料。该申 请资料为公司按照香港证券及期货事务监察委员会及香港联交所的要求编制和刊发，为草拟版本，其所 载资料可能会适时作出更新和修订。 ...

Core Viewpoint - The company, Greeenmei (002340.SZ), has submitted an application for issuing overseas listed shares (H shares) and listing on the main board of the Hong Kong Stock Exchange on September 22, 2025 [1] Group 1 - The application for H shares listing has been officially filed with the Hong Kong Stock Exchange [1] - The application materials for this issuance and listing have been published on the Hong Kong Stock Exchange's website on the same day [1]

关于向香港联交所递交境外上市股份（H 股）发行上 市申请并刊发申请资料的公告 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。 格林美股份有限公司（以下简称"公司"）已于 2025 年 9 月 22 日向香港联 合交易所有限公司（以下简称"香港联交所"）递交了发行境外上市股份（H 股） 并在香港联交所主板挂牌上市（以下简称"本次发行上市"）的申请，并于同日 在香港联交所网站上刊登本次发行上市的申请资料。该申请资料为公司按照香港 证券及期货事务监察委员会（以下简称"香港证监会"）及香港联交所的要求编 制和刊发，为草拟版本，其所载资料可能会适时作出更新和修订。 鉴于本次发行上市的认购对象仅限于符合相关条件的境外投资者及依据中 国相关法律法规有权进行境外证券投资的境内合格投资者，公司将不会在境内证 券交易所的网站和符合境内监管机构规定条件的媒体上刊登该申请资料，但为使 境内投资者及时了解该等申请资料披露的本次发行以及公司的其他相关信息，现 提供该申请资料在香港联交所网站的查询链接供查阅： 中文： https://www1.hkexnews.hk/app/sehk/20 ...

Core Insights - The solid-state battery industry is entering a "sprint phase" towards commercialization, with significant advancements in sodium-based solid-state batteries [1][2] - A new sodium-based solid-state battery developed by the University of Chicago and Singapore's Agency for Science, Technology and Research can operate stably in sub-zero temperatures, enhancing its competitiveness [1] - The global solid-state battery shipment is expected to reach 614.1 GWh by 2030, with a market size projected to exceed 100 billion yuan [2] Industry Developments - The solid-state battery industry is experiencing accelerated progress driven by both policy and technology, with a key conference scheduled for September 2025 to discuss future trends and challenges [2] - The demand for solid-state battery materials is expected to grow significantly, with investments in equipment projected to reach hundreds of billions [2] - Several A-share listed companies are making strides in solid-state battery technology, with Li Yuan Heng successfully developing manufacturing processes for solid-state battery equipment [2][3] Market Activity - Recent data shows that financing clients have significantly increased their positions in 26 solid-state battery concept stocks, with notable net purchases exceeding 1 billion yuan [4] - Leading companies in this sector include Xian Dao Intelligent, CATL, and others, with some stocks projected to have a net profit growth rate exceeding 20% in the coming years [4][5] - As of September 22, 2023, several stocks in this sector have rolling price-to-earnings ratios below 40, indicating potential investment opportunities [4][5]

Group 1 - The Democratic Republic of Congo (DRC) will end its cobalt export ban on October 15 and implement an export quota system starting October 16, allowing over 18,000 tons of cobalt to be exported for the remainder of the year [1][2] - The DRC's cobalt production accounts for 74% of global output, and the recent export ban led to a 62% decrease in China's imports of cobalt intermediate products from June to August [1][2] - Companies like Liqin Resources, which operates in Indonesia, saw a stock price increase of 17% following the announcement, as their cobalt supply is unaffected by the DRC's export quota [1] Group 2 - The DRC's export quota for 2025 is set at 18,000 tons, with a maximum annual export of 96,600 tons for 2026 and 2027, representing a 56% decline from 2024 production levels [2] - The demand for cobalt is expected to rise due to increased lithium battery demand, particularly in the electric vehicle sector, which may lead to a significant inventory replenishment among downstream companies [2] - The DRC's policy shift highlights the importance of Indonesian cobalt products, as Indonesia's nickel-cobalt resources may help fill the supply gap created by the DRC's export restrictions [2] Group 3 - Liqin Resources is a nickel supply chain company with a designed annual production capacity of 400,000 tons of nickel metal, including 120,000 tons of nickel-cobalt compounds from its wet processing projects in Indonesia [3] - Huayou Cobalt also has nickel-cobalt resources in Indonesia, with ongoing projects to enhance its resource reserves and production capabilities [4] - Greenme's cobalt recycling business is expected to see increased profitability during the current cobalt price upcycle, with significant production increases projected for 2024 and 2025 [5][6]

Core Viewpoint - Greeenme (002340) has submitted an application for listing on the Hong Kong Stock Exchange, with JPMorgan, CITIC Securities, and CITIC Jianye International as joint sponsors. The company is already listed on the Shenzhen Stock Exchange [1]. Group 1: Company Overview - Greeenme is a leader in the recycling of critical metal resources and lithium-ion batteries, as well as a prominent player in the global new energy materials manufacturing industry [4]. - The company operates a comprehensive business model centered around a circular economy, focusing on three core areas: critical metal resources, lithium-ion battery and end-of-life vehicle recycling, and new energy materials [4]. Group 2: Critical Metal Resources - Greeenme recycles critical metal resources including nickel, cobalt, tungsten, lithium, germanium, titanium, copper, manganese, gold, silver, and platinum, ranking first in China for the recovery of nickel, cobalt, and tungsten based on 2024 recovery volume [4]. - The company is a pioneer in developing smelting technologies for nickel, cobalt, and tungsten, and has built the world's largest high-pressure autoclave for red mud nickel ore, producing MHP of industry-leading quality [4]. - Greeenme has established a production base in Indonesia with an annual MHP production capacity of 150,000 tons, ranking among the top three globally based on 2024 MHP equity output [4]. Group 3: Lithium-Ion Battery and End-of-Life Vehicle Recycling - Greeenme procures retired lithium-ion batteries from third parties and recycles batteries from end-of-life electric vehicles (EVs), utilizing some batteries for secondary use while others are processed to produce metal intermediates for battery manufacturing [5]. - The company has partnerships with over 1,000 automotive and battery manufacturers globally and has established six lithium-ion battery recycling subsidiaries in China, all included in the MIIT whitelist. It ranks first in the domestic market for third-party retired lithium-ion battery recycling based on 2024 recovery volume [5]. Group 4: New Energy Materials - Greeenme supplies products such as ternary precursors and cathode materials for lithium-ion batteries, and cobalt oxide for 3C batteries, having established stable long-term relationships with nine of the top ten lithium-ion battery companies globally [6]. - Based on 2024 shipment volume, Greeenme ranks second globally in the supply of ternary precursors and cobalt oxide, and has the capability to achieve self-sufficiency in key raw materials needed for new energy materials production [6]. Group 5: Financial Performance - For the fiscal years ending December 31 and the six months ending June 30, Greeenme reported revenues of 29.39 billion RMB, 30.53 billion RMB, 33.20 billion RMB, and 17.56 billion RMB for 2022, 2023, 2024, and the first half of 2025, respectively [6][7]. - The company's profits for the same periods were approximately 1.33 billion RMB, 1.16 billion RMB, 1.33 billion RMB, and 842.77 million RMB [6][7].

Core Viewpoint - Greenmei Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with JPMorgan, CITIC Securities, and CITIC Construction Investment International as joint sponsors. The company is already listed on the Shenzhen Stock Exchange [1]. Group 1: Company Overview - Greenmei is a leader in the recycling of critical metal resources and lithium-ion batteries, as well as a prominent player in the global new energy materials manufacturing industry [4]. - Since its establishment in 2001, the company has developed a comprehensive business model centered around a circular economy, focusing on three core areas: critical metal resources, lithium-ion battery and end-of-life vehicle recycling, and new energy materials [4]. Group 2: Critical Metal Resources - The company recycles critical metal resources, including nickel, cobalt, tungsten, lithium, germanium, titanium, copper, manganese, gold, silver, and platinum, leveraging its technological advantages [4]. - According to Frost & Sullivan, by 2024, Greenmei ranks first in China for the recycling volume of nickel, cobalt, and tungsten [4]. - The company is a pioneer in developing smelting technologies for nickel, cobalt, and tungsten, and has created the world's largest high-pressure autoclave for nickel laterite ore, producing MHP of industry-leading quality [4]. - Greenmei has established a production base in Indonesia with an annual MHP production capacity of 150,000 tons, ranking among the top three globally in terms of MHP equity output by 2024 [4]. Group 3: Lithium-Ion Battery and End-of-Life Vehicle Recycling - Greenmei procures retired lithium-ion batteries from third parties and recycles batteries from end-of-life electric vehicles (EVs), utilizing a tiered reuse approach for some batteries [5]. - The company has established partnerships with over 1,000 automotive companies and battery manufacturers globally and has set up six lithium-ion battery recycling subsidiaries in China, all included in the MIIT whitelist [5]. - By 2024, Greenmei ranks first in the domestic market for third-party retired lithium-ion battery recycling [5]. Group 4: New Energy Materials - Greenmei supplies products such as ternary precursors and cathode materials for lithium-ion batteries, as well as cobalt oxide for 3C batteries, leveraging its advanced manufacturing technology and stable relationships with leading companies in the new energy materials sector [6]. - By 2024, Greenmei ranks second globally in terms of supply volume for ternary precursors and cobalt oxide [6]. - The company has the capability to achieve self-sufficiency in some key raw materials required for new energy materials production, thanks to its integrated capabilities in MHP production, critical metal resource recycling, and lithium-ion battery recycling [6]. Group 5: Financial Performance - For the fiscal years ending December 31 and the six months ending June 30, the company reported revenues of CNY 29.39 billion, CNY 30.53 billion, CNY 33.20 billion, and CNY 17.56 billion respectively [6][7]. - The corresponding profits for the same periods were approximately CNY 1.33 billion, CNY 1.16 billion, CNY 1.33 billion, and CNY 842.77 million [6][7].

Core Viewpoint - Greenmei Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with JPMorgan, CITIC Securities, and CITIC Construction Investment International as joint sponsors. The company is already listed on the Shenzhen Stock Exchange [1]. Group 1: Company Overview - Greenmei is a leader in the recycling of critical metal resources and lithium-ion batteries, as well as a prominent player in the global new energy materials manufacturing industry. The company operates a comprehensive business model centered around a circular economy, focusing on three core areas: critical metal resources, lithium-ion battery and end-of-life vehicle recycling, and new energy materials [4]. - The company has established itself as a pioneer in the recovery of critical metal resources, including nickel, cobalt, tungsten, lithium, germanium, titanium, copper, manganese, gold, silver, and platinum. According to Frost & Sullivan, Greenmei ranks first in China for the recovery of nickel, cobalt, and tungsten resources based on projected recovery volumes for 2024 [4]. Group 2: Business Segments - In the lithium-ion battery and end-of-life vehicle recycling sector, Greenmei procures retired lithium-ion batteries from third parties and recycles batteries from scrapped electric vehicles (EVs). The company has established partnerships with over 1,000 automotive and battery manufacturers globally and has set up six lithium-ion battery recycling subsidiaries in China, all of which are included in the Ministry of Industry and Information Technology's whitelist. Greenmei ranks first in the domestic market for third-party retired lithium-ion battery recycling based on projected recovery volumes for 2024 [5]. - In the new energy materials sector, Greenmei supplies products such as ternary precursors and cathode materials for lithium-ion batteries, as well as cobalt oxide for 3C batteries. The company has established long-term stable partnerships with nine of the top ten lithium-ion battery manufacturers globally. Based on projected shipment volumes for 2024, Greenmei ranks second in the global supply of ternary precursors and cobalt oxide [6]. Group 3: Financial Performance - For the fiscal years ending December 31 and the six months ending June 30, the company reported revenues of 29.39 billion RMB, 30.53 billion RMB, 33.20 billion RMB, and 17.56 billion RMB for 2022, 2023, 2024, and the first half of 2025, respectively. The corresponding profits were approximately 1.33 billion RMB, 1.16 billion RMB, 1.33 billion RMB, and 842.77 million RMB [6][7].

据港交所文件：格林美股份有限公司向港交所提交上市申请书。 ...