GEM(SZ:002340) 3 6 Ke·2025-08-27 02:03Core Viewpoint - The company Greeenme plans to initiate an "A+H" dual financing model by issuing H-shares and listing on the Hong Kong Stock Exchange, aiming to enhance its global development strategy and international brand image [1][2]. Company Overview - Greenme, established in 2001 and headquartered in Shenzhen, focuses on battery materials and battery recycling. It is currently the largest battery recycling company globally, processing over 10% of retired power batteries in China and recovering over 20% of the country's nickel resources [1][2]. Financial Performance - Greenme reported a revenue of 332 billion yuan for 2024, an increase of 8.75% year-on-year, with a net profit of 10.20 billion yuan, up 9.19%. The ternary materials business contributed 257.62 billion yuan, accounting for 77.6% of total revenue, while the battery recycling business generated 74.37 billion yuan, making up 22.4% [2][5]. Market Trends - The company anticipates a peak in battery retirements between 2027 and 2030, with plans to increase its recycling capacity to over 500,000 tons and sales exceeding 10 billion yuan by 2030. The actual recycling volume of lithium-ion batteries in China is projected to reach 424.6 million tons by 2030 [3][4]. Strategic Partnerships - Greenme has formed strategic partnerships with several major battery manufacturers and automotive companies, including CATL, GAC Group, and Mercedes-Benz, to expand its recycling channels and enhance its competitive position in the industry [4]. Industry Context - The current trend of companies in the lithium battery industry seeking to list in Hong Kong reflects a strategic response to global energy transformation and capital market opportunities. This trend is supported by favorable policies from the China Securities Regulatory Commission [2][5].