Core Viewpoint - Greeenme plans to initiate an "A+H" dual financing model to support its global expansion and enhance its international brand image and competitiveness through the issuance of H-shares in Hong Kong [2][3]. Company Overview - Greenme, established in 2001 and headquartered in Shenzhen, focuses on "battery materials" and "battery recycling" [2]. - The company is currently the largest battery recycling enterprise globally, processing over 10% of retired power batteries in China and recovering more than 20% of the country's nickel resources [2]. Financial Performance - Greenme's revenue for 2024 is projected to be 33.2 billion yuan, reflecting an 8.75% year-on-year increase, with a net profit of 1.02 billion yuan, up 9.19% [3]. - The revenue from ternary materials reached 25.76 billion yuan, a 10.24% increase, accounting for 77.6% of total revenue, while battery recycling generated 7.44 billion yuan, a 3.87% increase, making up 22.4% of total revenue [3]. Market Trends - The battery recycling industry is expected to see a peak in battery retirements between 2027 and 2030, with Greenme aiming to recycle over 500,000 tons of batteries and achieve sales exceeding 10 billion yuan by 2030 [4]. - The actual recovery volume of used lithium-ion batteries in China is estimated at 654,000 tons in 2024, with projections of 4.246 million tons by 2030 [4]. Strategic Partnerships - Greenme has established strategic partnerships with several major battery manufacturers and automotive companies, including CATL, GAC Group, and others, to enhance its battery recycling capabilities [5]. Industry Challenges - Despite being a leading player, Greenme faces challenges such as intense competition for battery sources and the need to improve recycling and reuse technologies while ensuring safety [5][6]. Regulatory Environment - The regulatory framework for battery recycling is evolving, with new guidelines being implemented to strengthen the recycling system and enhance compliance [6]. - The recent wave of companies from the lithium battery supply chain, including Greenme, seeking to list in Hong Kong reflects a strategic response to global energy transformation and capital market opportunities [6].
动力电池“退役潮”前夜 格林美拟赴港上市