芳源股份：2025年下半年公司主要原料来源已经以回收料为主

Core Viewpoint - The company has established a diversified procurement system for nickel raw materials, primarily utilizing MHP and recycled materials, with plans to increase the proportion of recycled materials in the coming years [1] Group 1 - The company currently sources nickel raw materials from multiple origins, including MHP and recycled materials [1] - The procurement and usage ratio of different raw materials will be dynamically optimized based on market prices and cost-effectiveness [1] - By the second half of 2025, the main source of raw materials for the company is expected to be recycled materials, with a further increase in the proportion of recycled materials anticipated in 2026 [1]