Group 1: Liquidity and Performance of Rare Earth ETF - The liquidity of the Rare Earth ETF managed by Jiashi has a turnover rate of 2.9% with a transaction volume of 71.903 million yuan [2] - Over the past week, the average daily transaction volume of the Rare Earth ETF reached 174 million yuan, ranking first among comparable funds [2] - The fund's scale increased by 244 million yuan in the past week, also ranking first among comparable funds [2] - The number of shares increased by 22.2 million in the past week, achieving significant growth and ranking first among comparable funds [2] - In the last five trading days, there were net inflows on four days, totaling 338 million yuan [2] - As of June 17, the net value of the Rare Earth ETF has risen by 34.53% over the past year, ranking 284 out of 2854 in the index stock fund category, placing it in the top 9.95% [2] - The highest monthly return since inception was 41.25%, with the longest consecutive monthly increase being four months and the longest increase percentage being 83.89% [2] Group 2: Key Holdings and Market Dynamics - As of May 30, 2025, the top ten weighted stocks in the China Rare Earth Industry Index accounted for 57.28% of the index, including Northern Rare Earth, China Rare Earth, and others [2] - Recent reports indicate a phased relaxation of rare earth export controls, allowing some rare earth magnetic material companies to obtain export licenses, although controls are not fully lifted [4] - The demand for rare earth materials is expected to remain strong due to sectors like new energy vehicles, home appliances, and wind power, with potential upward pressure from humanoid robots [5] - The market anticipates a reversal in supply and demand dynamics, with rare earths expected to benefit from both profit and valuation increases due to tariff policies exceeding market expectations [5]

Core Viewpoint - The credit rating agency Oriental Jincheng has maintained the credit rating of Greenmei Co., Ltd. at AA+ with a stable outlook, reflecting the company's strong market position and operational capabilities in the new energy materials and urban mining sectors [3][4][9]. Company Overview - Greenmei Co., Ltd. specializes in the manufacturing of new energy battery materials and urban mining, forming a dual-track business model that emphasizes both sectors [10][11]. - The company is controlled by Shenzhen Huifengyuan Investment Co., Ltd., with key stakeholders being Xu Kaihua and Wang Min [11][15]. Financial Performance - As of March 2025, the company's total assets amounted to 723.20 billion, with equity of 251.85 billion and a profit of 16.18 billion [13]. - The company has seen a significant increase in its revenue from urban mining operations, benefiting from a robust waste recycling network [8][16]. Market Position and Competitive Advantage - Greenmei holds a leading position in the market for nickel resources, with a production capacity of 150,000 tons per year established in Indonesia, ranking among the top three globally in MHP nickel production [7][8]. - The company has a strong focus on research and development, enhancing its technological and scale advantages in the industry [7][9]. Industry Analysis - The new energy materials industry is expected to grow significantly due to the increasing demand for electric vehicles, with the market for power batteries and materials projected to expand [18][19]. - The competition in the new energy supply chain is intensifying, with major players concentrated in China, where companies like Greenmei are positioned to leverage their resource and technological advantages [20][21]. Future Outlook - The stable credit rating outlook suggests that the company is likely to benefit from the rapid development of the new energy vehicle industry and government policies promoting recycling and resource recovery [9][14]. - The urban mining sector is anticipated to grow as the market for battery recycling expands, driven by the increasing volume of retired batteries [28][29].

信用等级通知书 东方金诚债跟踪评字【2025】0070 号 格林美股份有限公司： 东方金诚国际信用评估有限公司根据跟踪评级安排对贵公司及发行 的"23 格林 G1"的信用状况进行了跟踪评级，经信用评级委员会 评定，此次跟踪评级维持贵公司主体信用等级为 AA+，评级展望为 稳定，同时维持"23 格林 G1"的信用等级为 AA+。 东方金诚国际信用评估有限公司 信评委主任 二〇二五年六月十日 东方金诚债跟踪评字【2025】0070 号 信用评级报告声明 为正确理解和使用东方金诚国际信用评估有限公司（以下简称"东方金诚"）出具的 信用评级报告（以下简称"本报告"），声明如下： 1.本次评级为委托评级，东方金诚与评级对象不存在任何影响本次评级行为独立、客 观、公正的关联关系，本次项目评级人员与评级对象之间亦不存在任何影响本次评级 行为独立、客观、公正的关联关系。 2.本次评级中，东方金诚及其评级人员遵照相关法律、法规及监管部门相关要求，充 分履行了勤勉尽责和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的 原则。 3.本评级报告的结论，是按照东方金诚的评级流程及评级标准做出的独立判断，未受 评级对象和第三方组 ...

格林美：公司赴港上市工作正有序推进中，公司将严格按照相关法律法规及时履行信息披露义务。 ...

规模方面，电池ETF基金近1年规模增长4781.50万元，实现显著增长，新增规模位居可比基金前2。份额方面，电池ETF基金近3月份额增长1050.00万份，实 现显著增长，新增份额位居可比基金第一。 值得注意的是，该基金跟踪的中证电池主题指数估值处于历史低位，最新市净率PB为2.82倍，低于指数近5年84.79%以上的时间，估值性价比突出。 截至2025年6月4日 11:13，中证电池主题指数强势上涨1.48%，成分股派能科技上涨4.09%，湖南裕能上涨3.91%，银轮股份上涨3.48%，富临精工、国轩高科 等个股跟涨。电池ETF基金(562880)上涨1.27%。 流动性方面，电池ETF基金盘中成交181.08万元。拉长时间看，截至6月3日，电池ETF基金近1年日均成交805.58万元。 消息面方面，德尔股份公告称，公司与浙江省湖州市吴兴区织里镇人民政府签订《投资合作协议》，在织里镇投资建设新型锂电池中试及产业化项目、智能 电机产业化项目，项目计划投资总额约3亿元。 国信证券发布研报显示，固态电池产业化加速推进：应用端，宝马、奔驰、奇瑞等车企已经开始进行全固态电池样车路测，金龙羽已与客户签署无人机固态 电池 ...

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 股东大会，审议通过了《关于回购公司股份方案的议案》，同意公司使用自有资 金和股票回购专项贷款资金通过二级市场以集中竞价交易的方式回购公司部分 股份，本次回购股份用于实施股权激励或员工持股计划和依法注销减少注册资本， 其中，用于依法注销减少注册资本的股份数量不低于实际回购总量的50%，用于 实施股权激励或员工持股计划的股份数量不高于实际回购总量的50%。本次回购 的资金总额不低于10,000万元人民币（含）且不超过20,000万元人民币（含）， 本次回购股份的价格为不超过人民币9.93元/股（含）。具体回购数量以回购期限 届满时实际回购的股份数量为准。本次回购股份的实施期限自股东大会审议通过 本次回购股份方案之日起12个月内。具体内容详见公司在指定信息披露媒体《中 ...

Industry Overview - The circular economy in China is in a stage of comprehensive construction and high-quality development, with a market size projected to reach 46,366 billion yuan in 2024, representing a year-on-year growth of 13.71% [1][12] - The "14th Five-Year Plan" for circular economy development sets a target for resource recycling industry output to reach 5 trillion yuan by 2025, supported by policies such as tax incentives and financial subsidies [1][12] - Technological advancements, including AI sorting systems and blockchain traceability platforms, have reduced recycling costs by 40% and improved sorting accuracy to over 95% [1][12] Industry Development History - The development of China's circular economy has gone through three main stages: advocacy and initial practice (1990s-2003), national decision-making and comprehensive pilot projects (2004-2015), and comprehensive construction and high-quality development (2016-present) [4][5][6] Industry Chain - The upstream of the circular economy industry chain includes raw materials and equipment sourced from waste and natural resources, while the midstream focuses on processing and recycling, and the downstream involves resource recovery and second-hand trading [8] Market Size - The total amount of recycled resources in China is expected to reach 401 million tons in 2024, with a recycling value of 1.33 trillion yuan, driven by policies and technological innovations [10][12] Key Enterprises - Leading companies in the circular economy sector include China Resources Recycling Group, which has a comprehensive recovery network and processes over 10 million tons annually [14][16] - Other notable companies include Guangdong Bangpu Recycling Technology, which specializes in battery recycling with high recovery rates, and Beijing High Energy Environment Technology, focusing on industrial waste treatment [14][16][18] Industry Development Trends - Future growth in the circular economy will heavily rely on technological innovation, with AI and high-value recycling technologies becoming core focuses [20] - Policy support will continue to be a key driver for the industry, with government initiatives aimed at standardizing and scaling operations [22] - Increasing market demand, particularly in electronic waste recycling, will create new growth opportunities, with significant volumes of electronic waste generated annually [23]

联合国全球契约组织驻华代表刘萌表示，格林美集团与印尼的人才培养项目合作是"一带一路"行动 平台上企业推动科技创新与可持续发展的典型案例，体现了"授人以鱼不如授人以渔"的中华智慧，是企 业积极践行高质量共建"一带一路"的可持续发展的深刻实践。 日惹纳哈达图乌拉玛大学校长威迪亚介绍，中印尼未来冶金学院是一个全球领先的专注湿法冶金学 科教育、研究与政策制定的先进综合中心，得到中印尼政府的共同支持，由该校与格林美集团联合创 办。他表示，这是为培养下一代冶金专业人才做出的开创性努力，目标是通过技术创新、知识融合和可 持续发展来加强印尼乃至区域和全球冶金工业，相信这个项目将推动冶金教育和中印尼两国工业可持续 发展向前迈出重要的一步。 人民网雅加达5月28日电（记者李培松）5月25日，由联合国全球契约组织与印尼政府联合主办的首 届全球企业共建高质量'一带一路'峰会在印尼首都雅加达开幕。由中资企业格林美集团捐助的中国—印 尼新能源材料与冶金工程技术联合研究实验室和中印尼未来冶金学院，凭借为"一带一路"可持续发展提 供人才支撑与科技赋能的前沿理念，被峰会作为联合国契约组织"一带一路"行动平台首个科技与文化合 作试点标杆项目向全 ...

从增长趋势看，2024年新注册登记新能源汽车1125万辆，占新注册登记汽车数量的41.83%，年新 增规模较2019年 （120万辆） 增长了837.50%。 在政策与市场强力驱动下，动力电池回收江湖很可能迎来爆发性增长周期。 首先看市场方面的一组数据。公安部的最新数据显示：截至2024年底，全国新能源汽车保有量达 3140万辆，占汽车总量的8.90%；其中纯电动汽车保有量2209万辆，占新能源汽车保有量的 70.34%。 再看政策方面动态。为进一步加强新能源汽车废旧动力电池综合利用行业管理，引导行业健康发 展，工业和信息化部对《新能源汽车废旧动力蓄电池综合利用行业规范条件（2019年本）》进行 修订，形成《规范条件（2024年本）》，于2024年12月16日发布 （中华人民共和国工业和信息 化部公告2024年第42号） 。 《规范条件》重点聚焦四方面内容： 一是优化技术指标体系。 将冶炼过程锂回收率的技术指标由不低于85%提高至不低于90%，新增 破碎分离后的电极粉料回收率不低于98%、杂质铝含量低于1.5%等技术指标，引导企业强化技术 创新，提升工艺水平。 二是更新完善标准规范。 增补《车用动力电池回收利 ...

电池ETF(159755)：紧密跟踪国证新能源车电池指数，国证新能源车电池指数反映沪深北交易所中新能 源车电池产业上市公司的市场表现。场外联接(A：013179；C：013180)。 政策面上，此前工信部发布《2025年汽车标准化工作要点》，在前瞻布局前沿领域标准研究中提到，推 动制定及发布车用人工智能、固态电池、电动汽车换电等标准子体系，加快全固态电池、动力电池在役 检测、动力电池标识标签等标准研制。 消息面上，国轩高科已推出G垣准固态电池，并在eVTOL、新能源汽车及人形机器人等领域取得实质性 进展。目前该电池已完成多家客户测试并实现样车超1万公里运行，产能达12 GWh。 招商证券最新研报观点认为，随着2025年中国工业机器人产量同比大幅增长，以及智能终端、智能制造 装备等新一代技术的发展，固态电池的市场需求显著提升，为其技术研发和产业化提供了广阔空间。 截至2025年5月21日 13:12，国证新能源车电池指数(980032)强势上涨2.55%，成分股国轩高科 (002074)10cm涨停，宁德时代(300750)上涨5.87%，当升科技(300073)上涨5.72%，贝特瑞(835185)，先 导智 ...