Core Viewpoint - The automotive industry is at a critical juncture, transitioning from a linear economy to a circular economy, emphasizing resource reduction, reuse, and recycling as key drivers for innovation and high-quality development [3][4]. Group 1: European Market Challenges - The European electric vehicle market is facing significant challenges, with a projected 5.9% decline in electric vehicle sales in 2024, indicating a slowdown in the electrification process [6]. - Europe heavily relies on imports for battery raw materials, with 98% of lithium and 80% of natural graphite sourced externally, leading to increased supply chain risks and costs [7]. - The EU's stringent new battery regulations require comprehensive lifecycle management, including carbon footprint reporting and recycling targets, which pose significant pressure on local automotive manufacturers [8][12]. Group 2: Potential in European Electrification - Despite challenges, the European electric vehicle market holds substantial potential, with 1.45 million new pure electric vehicles expected to be registered in 2024, and a total of 5.87 million pure electric vehicles by year-end [12]. - The EU's new carbon emission targets necessitate that manufacturers achieve at least 20% of their sales from pure electric vehicles to avoid hefty fines, driving the urgency for electrification [12]. - The first five months of 2024 saw a 25% increase in electric vehicle registrations in the EU compared to the previous year, indicating a growing acceptance of electric vehicles [12]. Group 3: Opportunities for Industry Collaboration - The global energy circular plan is seen as a potential platform for collaboration between Chinese and European companies, leveraging China's established battery recycling capabilities and Europe's regulatory expertise [15]. - Chinese companies, such as CATL, have developed a comprehensive closed-loop system for battery production, usage, recycling, and material regeneration, positioning them favorably in the global market [16][17]. - European automotive giants like Mercedes and BMW are increasingly recognizing the benefits of collaborating with established Chinese supply chains to accelerate their electrification efforts and meet regulatory requirements [19][21]. Group 4: Strategic Shifts in the Battery Materials Industry - The battery materials industry is undergoing a transformation, with companies shifting from being mere consumers of raw materials to providers of integrated solutions that include recycling and material regeneration [23][24]. - The collaboration between Chinese battery companies and European automakers is not just about procurement but serves as a strategic lever to navigate regulatory, cost, and technological challenges [22][24]. - Early involvement in global initiatives like the energy circular plan allows companies to transition from compliance followers to co-shapers of industry standards and technologies, enhancing their competitive positioning [25].

Group 1: Industry Overview - The automotive dealership industry is undergoing significant transformation due to the decline in traditional fuel vehicle sales and the rise of electric vehicles (EVs) [3][4] - The top 100 dealerships in China are projected to see a 2.5% decrease in total revenue to 1.7213 trillion yuan in 2024, with a 6.7% reduction in asset investment [3] - The penetration rate of new energy vehicles among the top dealerships reached 23%, a year-on-year increase of 31.1%, with total new energy vehicle sales reaching 15.02 million units, up 30.9% year-on-year [3] Group 2: Company Strategies - Jiangsu Wanbang Jinzhixing Automotive Investment Co., the parent company of Star Charging, has leveraged its existing dealership network to enhance its charging infrastructure business [6][8] - Yongda Group has established a new company, Juhui Battery Technology, focusing on intelligent battery maintenance equipment, addressing key pain points in battery health management [11][12] - Hunan Dezong Automotive Sales Service Co. reported a 299.92% increase in revenue from its vehicle recycling and dismantling business, indicating a strategic pivot towards battery recycling and circular economy projects [15][17] Group 3: Financial Performance - The financial performance of listed automotive dealers in Hong Kong shows that 8 out of 9 companies experienced a year-on-year revenue decline, with only 3 achieving profitability [4] - Yongda Group's Juhui Electric Technology has serviced over 15,000 vehicles, achieving a customer satisfaction rate of over 99% [13] - Dezong Automotive's revenue from vehicle recycling reached 45.665 million yuan, with a gross margin of 9.46%, reflecting significant growth potential in this segment [17] Group 4: Future Outlook - The automotive dealership industry is expected to face ongoing challenges, with over 52.6% of dealers reporting losses in the first half of 2025, indicating a worsening survival situation [3][4] - Companies like Changxin Automotive Group are investing heavily in battery manufacturing, with plans to establish a large-scale lithium battery production base, aiming for an annual industrial output exceeding 100 billion yuan [20][21] - The competitive landscape for battery manufacturing is intensifying, with new entrants like Chunan New Energy aiming to establish themselves alongside established players like CATL and BYD [21][22]

2025年9月17日，一则公告在全球电池行业内引发高度关注。 中国回收巨头格林美宣布，与美国技术创新企业Ascend Elements（AE）签署谅解备忘录，双方 将联手开拓欧洲动力锂电池回收市场。 这并非一次常规的海外业务拓展。在一个地缘政治日益复杂的时代，这起中美企业的深度结盟显得 尤为突出，它不仅是一个商业决策，更是对一个正由法规强力重塑的未来市场的精准回应。 倒计时59天 2025（第十五届）高工锂电年会 暨十五周年庆典&高工金球奖颁奖典礼 主办单位： 高工锂电、高工产研（GGII） 协办单位： 卡洛维德 总冠名： 海目星激光 年会特别赞助： 大族锂电 专场冠名： 英联复合集流体、逸飞激光、华视集团、欧科工业空调 金球奖全程特约赞助： 思客琦 时间&地点： 2025年11月18-20日 深圳前海华侨城JW万豪酒店 会议合作： 陈女士 13560731836（微信同号） 进入欧洲为何重要？ 要理解这盘棋的精妙之处，必须先看懂其背后的棋盘——由欧盟亲手绘制的、极具雄心的电池循环 经济蓝图。 这份蓝图的核心是于2023年8月生效、并将从2024年2月起逐步强制执行的新《电池法》。 该法规通过一系列前所未有的 ...

在专题讨论中，宁德时代副总经理、董事会秘书蒋理号召全行业"为循环而生"。他强调，实现电池循环 经济不仅是技术问题，更是系统工程，需要构建协同网络、共享知识、整合价值链。 蒋理表示："我们必须从电池设计的源头就融入循环理念，通过技术创新和商业模式重构，让每一块电 池的价值都得到最大化利用。全球能源循环计划正致力于打造这样一个全球协作平台，推动形成标准统 一、数据透明、全员参与的循环生态。" 本报讯(记者李婷)9月7日，欧洲最大汽车展德国慕尼黑国际汽车展(IAA)期间，由艾伦.麦克阿瑟基金会 (Ellen MacArthur Foundation)主办，宁德时代（300750）支持的全球电池循环经济高端论坛成功举办。 宁德时代、宝马、梅赛德斯-奔驰、巴斯夫等全球汽车产业链领军企业，以及全球电池联盟、欧洲电池 联盟等权威机构代表参与论坛。现场汇聚了来自汽车产业链、国际组织、研究智库代表逾百人。与会嘉 宾围绕"电池价值链的循环实现路径"与"政策与金融协同推动循环经济"两大核心议题深入探讨，推 动"全球能源循环计划"向规模化落地。 全球能源循环计划是全球首个由中国企业参与推动的循环经济公益项目，该项目致力于推动电池循环 ...

在德国慕尼黑国际汽车展（IAA）期间，由艾伦·麦克阿瑟基金会主办、宁德时代支持的全球电池循环 经济高端论坛成功举办。宁德时代、宝马、梅赛德斯-奔驰、巴斯夫等全球汽车产业链企业，以及全球 电池联盟、欧洲电池联盟等权威机构代表参与论坛。现场会聚了来自汽车产业链、国际组织、研究智库 代表逾百人。与会嘉宾围绕"电池价值链的循环实现路径"与"政策与金融协同推动循环经济"两大核心议 题深入探讨，推动"全球能源循环计划"向规模化落地。 在专题讨论中，宁德时代副总经理、董事会秘书蒋理号召全行业"为循环而生"。他强调，实现电池循环 经济不仅是技术问题，更是系统工程，需要构建协同网络、共享知识、整合价值链。 欧洲电池联盟总经理Emma Nerenheim、基准矿物情报机构（BMI）关键矿物分析师Zoe Zhang以及国际 战略咨询公司Xynteo董事总经理Amy Marshall等与会者还表示，欧盟《新电池法》等强制性规范为行业 发展指明了方向，但要真正实现规模化，离不开创新的商业模式和资本市场的支持。全球电池联盟执行 董事Inga Petersen表示："将'循环力'量化为可被资本市场定价的绿色资产，是吸引更多社会资本参与的 ...

在德国慕尼黑国际汽车展(IAA)期间，由艾伦.麦克阿瑟基金会主办、宁德时代（300750）支持的全球电 池循环经济高端论坛成功举办。宁德时代、宝马、梅赛德斯-奔驰、巴斯夫等全球汽车产业链企业，以 及全球电池联盟、欧洲电池联盟等权威机构代表参与论坛。现场会聚了来自汽车产业链、国际组织、研 究智库代表逾百人。与会嘉宾围绕"电池价值链的循环实现路径"与"政策与金融协同推动循环经济"两大 核心议题深入探讨，推动"全球能源循环计划"向规模化落地。 在专题讨论中，宁德时代副总经理、董事会秘书蒋理号召全行业"为循环而生"。他强调，实现电池循环 经济不仅是技术问题，更是系统工程，需要构建协同网络、共享知识、整合价值链。 本次论坛成功凝聚产业共识，标志着全球能源循环计划进入实质性推进阶段。下一步，计划将联合全球 合作伙伴开展试点项目，探索全链条解决方案，形成可复制、可推广的循环经济新模式，为全球汽车产 业绿色转型提供系统性支持。(易知微) 梅赛德斯-奔驰循环经济负责人Jens Rubi表示："我们必须深入理解整个供应链和价值链中的合作机制。 特别是在质量责任、供应链管理、本地化策略等方面，尤其是需要创新的合作理念。" 与会者还 ...

Group 1 - The forum focused on the "path to achieving a circular battery value chain" and "policy and financial collaboration to promote a circular economy" [1][3] - CATL's Vice President emphasized the need for the entire industry to be "born for recycling," highlighting that achieving a battery circular economy is a systematic project requiring a collaborative network and knowledge sharing [1][3] - Mercedes-Benz's circular economy head stressed the importance of understanding cooperation mechanisms within the entire supply chain and value chain, particularly in quality responsibility and localization strategies [3] Group 2 - Participants discussed the significance of digital tools like battery passports and the Catena-X project for enhancing supply chain transparency and traceability, which are essential for efficient recycling and repurposing [3] - Key design principles for promoting battery pack circularity and the selection of chemical materials affecting recycling rates were also key topics of discussion, leading to a broad consensus on establishing cross-industry cooperation mechanisms [3] - The Global Energy Circular Program, the first circular economy initiative involving a Chinese company, aims to create a collaborative network across the entire industry chain, targeting a 50% reduction in new mineral extraction for battery production over the next 20 years [3]

Core Viewpoint - The battery circular economy is emerging as a significant investment opportunity, driven by the global energy circular plan announced by CATL and the Ellen MacArthur Foundation, highlighting the importance of efficient battery recycling and ESG investment principles [1][4]. Group 1: ESG and Battery Circular Economy - Battery companies are increasingly focusing on environmental, social responsibility, and corporate governance, with ESG reports becoming essential for corporate transparency [3]. - The traditional linear model of battery production and disposal poses potential ESG risks, as battery manufacturing accounts for 40% of the carbon footprint in the electric vehicle lifecycle [3]. - The battery circular economy offers a systematic solution to ESG risks by treating retired batteries as "urban mines," allowing for the recovery of high-purity materials like lithium, cobalt, and nickel [3][4]. Group 2: Regulatory Environment and Market Opportunities - The EU's new battery regulation mandates compliance for all batteries sold within the EU, emphasizing the use of recycled materials to reduce carbon emissions and ensure market access [4]. - By 2030, the global retired battery volume is expected to reach approximately 831 GWh, with a corresponding recycling market space of 189.5 billion yuan, indicating a compound annual growth rate of 33% from 2023 to 2030 [6]. - The Chinese government is actively promoting the establishment of a comprehensive recycling system for used batteries, further enhancing the market potential for battery recycling [5][6]. Group 3: Corporate Strategies and Innovations - Leading companies like CATL are restructuring their business models to focus on shared services and efficient recycling systems, aiming to maximize battery utilization and reduce reliance on raw material mining [7]. - Companies with advanced recycling technologies, such as hydrometallurgy and pyrometallurgy, are positioned for significant growth, particularly those capable of efficiently recovering high-value metals [7][8]. - The concept of "second-life" applications for retired batteries, such as energy storage, aligns with ESG principles and presents a blue ocean market opportunity [8]. Group 4: Financial Implications and Policy Support - Higher ESG ratings correlate with better long-term stock performance, indicating that companies with strong ESG practices may experience financial advantages [8][9]. - Recent policies from the People's Bank of China and other departments support the recycling industry, reducing financing difficulties and costs for companies involved in the circular economy [9]. - The future valuation of battery companies will increasingly depend on their ability to extract "regenerative" value from retired batteries, emphasizing the importance of circular capabilities as a key ESG metric [9].

Carbon Neutrality Policy - The Ministry of Ecology and Environment released reports on product carbon footprint and climate change adaptation during the National Low Carbon Day, highlighting significant progress in carbon footprint management with over 70 national standards and 100 group standards by the end of 2024 [2] - The year 2024 is projected to be the hottest on record, necessitating urgent improvements in climate change adaptation capabilities [2] - A public engagement event showcased over 20 low-carbon technologies with significant carbon reduction effects, emphasizing the importance of technology in addressing key challenges [2] Climate Dynamics - The China Meteorological Administration predicts that 2025 will likely be one of the three warmest years on record, with extreme heat events already affecting multiple provinces [4] - The average national precipitation in June was 85.8 mm, which is 3.4% higher than the historical average, indicating a regional imbalance in rainfall distribution [4] - The occurrence of extreme weather events underscores the need for enhanced disaster prevention and low-carbon transition strategies to improve societal resilience [4] Renewable Energy Developments - In May 2025, the National Energy Administration issued 215 million green certificates, a slight decrease of 0.59% from the previous month, with 60.31% being tradable [5] - From January to May 2025, a total of 1.093 billion green certificates were issued, indicating a steady progress in the green certificate trading mechanism that supports renewable energy consumption [5] Local Initiatives - The Shanghai Carbon Inclusive Platform was launched, allowing citizens to track their low-carbon activities and accumulate carbon credits for rewards [7] - The platform aims to create a closed-loop system for low-carbon behavior, enhancing public participation in carbon reduction efforts [7] Corporate Practices - CATL announced its "Global Energy Circulation Plan" during the London Climate Action Week, aiming to promote a circular economy in battery production and reduce reliance on raw mineral resources [8] - The company predicts that by 2040, the global battery recycling market could exceed 1.2 trillion yuan, creating over 10 million jobs in the battery value chain [8] - Achieving 50% of new battery production through material recycling will require technological breakthroughs and collaborative efforts across the industry [8]

Core Insights - During the "London Climate Action Week," the Vice President and Secretary of the Board of Ningde Times, Jiang Li, stated that within the next 20 years, 50% of new battery production globally will move away from mineral extraction [1] - Jiang emphasized that the battery industry chain will drive the energy system towards a more efficient, low-carbon, and sustainable transformation [1] - The concept of a circular economy for batteries is highlighted, aiming to transform the entire lifecycle of batteries from design, manufacturing, usage, to recycling, which will open up vast market opportunities [1] - It is predicted that by 2040, the global battery recycling market size will exceed 1.2 trillion yuan [1]