动力电池退役后去了哪儿？这家回收企业告诉你

Core Viewpoint - The article discusses the emerging lithium battery recycling industry in China, highlighting the business model of Guangdong Jinseng New Energy Co., Ltd. and its upcoming IPO, while addressing the challenges the company faces in profitability and inventory management due to fluctuating raw material prices [3][6][12]. Industry Overview - The lithium battery recycling market is a burgeoning industry with significant growth potential, driven by the increasing volume of retired batteries from electric vehicles and consumer electronics [7][8]. - The total amount of retired lithium batteries in mainland China is projected to grow from 157,100 tons in 2020 to 455,100 tons in 2024, with a compound annual growth rate (CAGR) of 30.5% [7][8]. - By 2031, the total volume of retired lithium batteries in China is expected to reach approximately 4.8 million tons, with a CAGR of 40.1% from 2024 to 2031 [7][8]. Company Profile - Jinseng New Energy is positioned as a leading global provider of lithium battery recycling and regeneration solutions, being the second-largest in terms of sales revenue from recycling in 2024 and the largest third-party provider [6][7]. - The company operates three production facilities in Guangdong and Jiangxi provinces to prepare for the anticipated surge in retired lithium batteries [6][7]. Financial Performance - In 2022, Jinseng New Energy achieved revenue of 2.905 billion yuan and a net profit of 151 million yuan, driven by increased demand in the electric vehicle and energy storage sectors [12][14]. - However, the company has faced continuous losses in the following years, with net losses of 471 million yuan in 2023 and 344 million yuan in 2024, primarily due to significant fluctuations in product prices and inventory devaluation [12][14]. - The average price of lithium carbonate has seen drastic declines, from 426,900 yuan per ton in 2022 to 62,300 yuan per ton in the first half of 2025, impacting the company's profitability [12][13]. Challenges and Strategies - Jinseng New Energy has encountered "pricing mismatch risks" due to the time lag between raw material procurement and product sales, leading to inventory devaluation [12][13]. - The company plans to enhance profitability by improving price volatility resilience, optimizing procurement and inventory management, diversifying product offerings, and increasing operational efficiency [12][13].