Core Viewpoint - Guangdong Jingsheng New Energy Co., Ltd. has submitted a new listing application to the Hong Kong Stock Exchange, aiming to expand its lithium battery recycling and regeneration business, and establish an integrated ecosystem for lithium battery recycling [1][2]. Company Overview - Jingsheng New Energy focuses on lithium battery recycling and regeneration, covering mainstream battery systems such as ternary lithium batteries and lithium iron phosphate batteries. Its products include lithium carbonate, nickel sulfate, and cobalt sulfate, widely used in electric vehicles, energy storage systems, and consumer electronics [3]. - According to a report by Frost & Sullivan, Jingsheng New Energy is the second-largest lithium battery recycling and regeneration company globally based on 2024 sales revenue. The company has a lithium metal recovery rate exceeding 95%, surpassing the industry average of 90% [3]. Production Capacity and Expansion Plans - Jingsheng New Energy has established three production bases in Zhaoqing, Guangdong Province, and Yichun and Ganzhou in Jiangxi Province. By the end of 2024, the company's production capacity for lithium carbonate, nickel sulfate, and cobalt sulfate is expected to be approximately 76,600 tons per year [3]. - The company plans to expand upstream and downstream in lithium materials, continuously improve its integrated ecosystem for lithium battery recycling, enhance production capacity, and increase market share to solidify its leading position in the industry [3][6]. Financial Performance - Financial data shows that Jingsheng New Energy's operating revenues for 2022, 2023, and 2024 were approximately 2.905 billion yuan, 2.892 billion yuan, and 2.157 billion yuan, respectively. Net profits for the same years were 151 million yuan, -471 million yuan, and -344 million yuan [5]. - The company reported continued losses in 2023 and 2024, primarily due to a significant decline in lithium carbonate prices. In the first half of 2025, the company continued to incur losses attributed to increased administrative and R&D expenses [5]. Price Trends and Market Impact - Lithium carbonate prices have been on a downward trend, with the average price reported at 73,250 yuan per ton as of September 30. The average selling price of lithium carbonate for Jingsheng New Energy in the first half of 2025 was 59,400 yuan per ton, down from 85,800 yuan per ton in the first half of 2024 [5]. - The company indicated that fluctuations in the prices of lithium carbonate, nickel sulfate, and cobalt sulfate could significantly impact its financial condition and operating performance [5].
锂电池回收龙头 再次申请赴港上市
Zhong Guo Zheng Quan Bao·2025-10-05 00:47