GEM(002340) 证券时报网·2024-11-21 17:26Core Viewpoint - The company is strategically positioned to benefit from potential export bans on nickel and cobalt in Indonesia, enhancing its long-term development prospects in the region [1][2]. Group 1: Nickel Resource Projects - The company has a planned smelting capacity of 150,000 metal tons of Mixed Hydroxide Precipitate (MHP) in Indonesia, with 65,000 tons already in full production and an additional 25,000 tons project completed in October 2023 [1]. - A recent investment cooperation framework agreement was signed with Vale Indonesia to build a high-pressure acid leaching (HPAL) green smelting plant in Central Sulawesi, with a design capacity of 66,000 tons per year and a capital expenditure not exceeding $1.42 billion [2]. Group 2: Recycling Business - The company is the largest recycler of nickel, cobalt, and tungsten globally, and is leveraging the national "old-for-new" policy to enhance its recycling business in home appliances and automotive dismantling [3]. - In the first three quarters of 2024, the company recycled 23,000 tons (2.63 GWh) of power batteries, a year-on-year increase of 16.78%, establishing five recycling and processing centers in China [4]. - The company has formed partnerships with over 800 global partners, including BYD and Mercedes-Benz China, to create a nationwide recycling network, contributing to the entire lifecycle value chain of the new energy vehicle industry [4].