Market Overview - The A-share market showed mixed performance today, with the Shanghai Composite Index rising by 0.21% to close at 3387.57 points, while the Shenzhen Component Index increased by 0.44% to 10294.22 points. The ChiNext Index fell by 0.22% to 995.49 points, and the Growth Enterprise Market Index rose by 0.83% to 2065.39 points. Overall, there were more decliners than advancers, with 3599 stocks declining and 1615 stocks advancing across the market. The total trading volume in the Shanghai and Shenzhen markets reached 11734 billion yuan, an increase of 37.64 billion yuan compared to the previous trading day [1]. Industry Performance - Among the primary industries, coal, non-ferrous metals, electric equipment, banking, pharmaceutical biology, and transportation sectors led the gains, while beauty care, electronics, media, social services, machinery equipment, and retail sectors experienced declines [1]. - The top-performing concept sectors included gold and jewelry, selected air transport, power batteries, coal mining, central enterprise coal, lithium battery anodes, lithium iron phosphate batteries, solid-state batteries, sodium-ion batteries, complete vehicles, cobalt mines, battery recycling, new energy vehicles, germanium-gallium-antimony ink, and antibiotics [2].

Group 1: CATL's IPO - CATL has officially launched its public offering in Hong Kong, aiming to raise approximately 30.7 billion HKD (about 28.5 billion RMB) [1] - The upper limit of the offering price is set at 263 HKD per share, which represents about a 1% discount compared to its A-share price of 248.27 RMB as of May 9 [1] - The final pricing for the Hong Kong offering is expected to be completed by May 16, with the listing on the Hong Kong Stock Exchange scheduled for May 20 [1] Group 2: EVE Energy's Battery Recycling Network - EVE Energy plans to launch a global battery recycling network named "Cradle Plan" in June, which will include 1,000 collection points [2] - The network aims to address issues related to the fragmented traditional battery recycling system and high logistics costs for cross-border recycling [2] - Currently, EVE Energy has established 246 collection points, with 159 located domestically and 87 internationally across over 30 countries [2] Group 3: GM and LG Energy's New Battery Development - General Motors has announced a collaboration with LG Energy to commercialize a new lithium manganese rich (LMR) square battery cell for future electric trucks and full-size SUVs [4] - GM aims to be the first automaker to deploy LMR batteries in electric vehicles, with plans for commercial production in the U.S. by 2028 [4] - The new LMR battery cell is expected to achieve a 33% increase in energy density compared to the best-performing lithium iron phosphate (LFP) cells, while maintaining similar cost levels [4]

Conference Announcements - The 2025 High-Performance Sodium Battery Industry Summit will be held on June 9 at the Shangri-La Hotel in Suzhou, organized by GGII and sponsored by Zhongna Energy [2] - The 2025 High-Performance Solid-State Battery Technology and Application Summit is scheduled for June 10 at the same venue, organized by GGII and sponsored by Liyuanheng [3] Battery Innovations - Honeycomb Energy's second-generation Dragon Scale A battery is expected to enter mass production in mid-June, featuring an 800V system, a range exceeding 400KM, and a peak fast charging capability of 5C, with a system energy density of 185Wh/kg and over 1600 charge cycles [5] - Ruin New Energy launched a 21700-6.0Ah battery at CIBF 2025, boasting an energy density exceeding 300Wh/kg and focusing on large cylindrical cell technology with nearly 200 patents [6] Material Developments - Enjie Co., Ltd. introduced two new membrane products at CIBF 2025: the high-safety X series and the high-wetting I series, with the X series increasing the rupture temperature from 150℃ to 230℃ and reducing rupture area by 60%, while the I series enhances the wetting value and ionic conductivity for faster charging [9] Battery Recycling Initiatives - A strategic cooperation agreement was signed for a 30,000 tons/year waste lithium battery recycling project in Dushanzi District, in collaboration with Xinjiang Fengyan Resource Recycling Co., Ltd. [12] - A project for the recycling and regeneration of 10 tons of waste ternary lithium batteries has been launched in Fujian, with an investment of 50 million yuan, focusing on producing lithium carbonate and ternary materials [14]

Group 1: Industry Events - The 2025 High-Performance Sodium Battery Industry Summit will be held on June 9 at the Shangri-La Hotel in Suzhou, organized by GGII and sponsored by Zhongna Energy [2] - The 2025 High-Performance Solid-State Battery Technology and Application Summit is scheduled for June 10 at the same venue, organized by GGII and sponsored by Liyuanheng [3] Group 2: BYD's Market Expansion - BYD plans to enter the two-wheeler and three-wheeler battery market, with a product launch event scheduled for May 17 in Shenzhen, promoting the slogan "Lead-acid phase out, Iron-lithium new start" [5] Group 3: Investment in Lithium Battery Industry - In Q1 2025, China's new energy battery industry chain plans to invest approximately 254.9 billion yuan, with 72 new expansion projects reported, which is 51.4% of the total investment for 2024 [6] Group 4: Technological Developments - CATL has reached a technology licensing agreement with Mitsubishi Chemical regarding lithium-ion battery patents held by MU Ionic Solutions [8] - A new battery pack from Funeng Technology has successfully passed stringent safety tests, marking a significant achievement in electric vehicle safety standards [11] Group 5: Battery Recycling Initiatives - Hubei Ecology and Jingzhou Industrial Investment Group have signed a strategic cooperation agreement focusing on resource recycling and green industry development, particularly in the recycling of used batteries and plastics [12]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ENVISION GREENWISE HOLDINGS LIMITED 晉景新能控股有限公司 （股份代號：1783） （於開曼群島註冊成立的有限公司） 自願性公告 有關 簽署戰略合作諒解備忘錄之 業務更新資料 本公司從事逆向供應鏈管理及綠色能源解決方案業務。本公司已於香港開展電動車電池 回收項目，並已在美洲、歐洲及亞洲建立全球服務網絡。 中資環國際為一間在中華人民共和國成立的有限公司，為中國資源循環集團有限公司的 附屬公司。中資環國際專注於海外戰略性資源佈局，是暢通國內外再生資源（包括退役電 池領域）供應鏈的重要樞紐。透過再生資源全生命周期管理，致力深化國際產能合作與綠 色標準輸出，保障國家戰略資源安全。中國資源循環集團有限公司為在中華人民共和國 註冊成立的國有企業。 本公告乃由晉景新能控股有限公司（「本公司」）自願作出，以知會其股東及潛在投資者有 關本公司之最新發展。 諒解備忘錄 於2025年5月8日 ...

Investment Rating - The report recommends a "Buy" rating for the industry, predicting that the industry index will outperform the Shanghai Composite Index by 10% or more in the upcoming months [4]. Core Insights - In Q1 2025, LG Energy Solution (LGES) reported a revenue increase of 2.2% year-on-year to 6.27 trillion KRW (approximately 340.2 billion RMB), despite a quarter-on-quarter decrease of 2.9% [1]. - The operating profit for Q1 2025 was 375 billion KRW (approximately 20.25 billion RMB), a significant recovery from a loss of 2.26 trillion KRW in the previous quarter, marking a year-on-year increase of 138.85% [1]. - The net profit for Q1 2025 was 227 billion KRW, up 7.08% year-on-year, compared to a loss of 411 billion KRW in the previous quarter [1]. - The company’s total debt reached 17.61 trillion KRW at the end of Q1 2025, reflecting a quarter-on-quarter increase of 14.4% and a year-on-year increase of 36.98% [2]. Financial Performance Summary - Revenue for Q1 2025 was 6.27 trillion KRW, with a gross profit margin of 16.2% [7]. - The operating profit margin, excluding IRA tax credits, was -1.3% for Q1 2025, indicating challenges in profitability without tax incentives [7]. - Cash and cash equivalents at the end of Q1 2025 were 3.57 trillion KRW, down 8.34% quarter-on-quarter and down 32.4% year-on-year [1]. Operational Developments - LGES has adjusted its North American production capacity in response to market demand, pausing the construction of its ESS battery plant in Arizona and instead utilizing existing capacity in Michigan to produce LFP batteries [3]. - The company is acquiring a joint venture with General Motors in Michigan, which will significantly expand its North American operations [3]. - LGES has secured new orders for 10GWh of batteries from a traditional automaker in North America and has won contracts for ESS batteries in Europe and the U.S. [3]. Future Outlook - The company plans to streamline operations and reduce costs while actively seeking strategic opportunities in light of regulatory changes affecting the battery industry [6]. - LGES will focus on essential investments and adjust its capacity expansion plans according to market demand [6]. - The company aims to mitigate tariff impacts by collaborating with material companies entering North America and accelerating the development of new technologies to lower production costs [6].

中国经营报《等深线》记者陈茂利北京报道 广州的白名单回收厂里，机械臂正井然有序地拆解着退役电池。与此同时，200多公里外东莞村落的一 工厂内，散落一地的废旧电池，正在被工作人员借着昏暗的光线撬开，更有人抡着大锤拆解着。 两种场景，共同承接着汹涌而来的电池"退役潮"。有机构预计，2025年，我国动力电池退役量将达到82 万吨，2028年后则会达到260万吨。 "大概七成的退役电池被小作坊以更高的价格收走，流入非正规渠道，这些企业对废旧动力电池进行简 单修复包装，或粗暴破碎后再次流入市场。"一家动力电池上市公司人士告诉《等深线》记者。 锂电池含有不少有害物质，其正极材料镍化合物，被国际癌症研究机构（IARC）列为1类致癌物，长期 接触可导致鼻癌、肺癌；负极材料石墨长期吸入可导致尘肺病；而电解液中的六氟磷酸锂，遇水分解为 氟化氢，后者具有强腐蚀性，可灼伤皮肤、眼睛，吸入后损伤肺部…… 然而吞下七成退役电池的小作坊，往往既无环评许可，也无安全生产资质，更遑论正规拆解执照，有的 甚至没有进行工商登记。反观仅吸收三成退役电池的白名单企业，却要遵循《新能源汽车废旧动力电池 综合利用行业规范条件（2024年本）》的严格标准： ...

1.【亚马逊公司发射卫星互联网计划首批卫星】美国亚马逊公司28日使用美国联合发射联盟公司运载火箭 首次发射其卫星互联网"柯伊伯计划"的首批量产卫星。"柯伊伯计划"是亚马逊旗下的近地轨道卫星宽带网 络项目。其目标是在近地轨道部署超过3200颗卫星，为全球用户提供快速、可靠的互联网服务。（环球 时报） 2. 【 索尼集团据悉考虑分拆半导体业务，或最快今年完成 】 4月29日消息，据知情人士透露，索尼集团 正在考虑分拆其半导体部门，此举将标志着这家PlayStation制造商精简业务并专注于娱乐领域的最新举 措。因讨论未公开信息而要求匿名的知情人士表示，索尼半导体解决方案集团的分拆和上市可能最快于 今年进行。其中一位知情人士称，索尼考虑将所持的半导体业务的大部分股份分配给股东，并可能在分 拆后保留少数股权。（财联社） 3. 【 我国成功发射卫星互联网低轨卫星 】 4月29日消息，4月29日4时10分，我国在文昌航天发射场使用 长征五号乙运载火箭/远征二号上面级，成功将卫星互联网低轨03组卫星发射升空，卫星顺利进入预定轨 道，发射任务获得圆满成功。这次任务是长征系列运载火箭的第573次飞行。（央视新闻） 此外，如果您 ...

据华友钴业官微发文称，旗下浙江华友循环科技有限公司、衢州华友资源再生科技有限公司与LG新能源正式签署合资协议，分别在南京、衢 州两地成立预处理和再生冶金两家合资公司，双方暂未披露合资公司的各自持股比例。双方计划分别在南京、衢州建设两座电池回收工厂。其 中，预处理工厂将建设在南京，后处理厂则将建设在衢州。 （ 来源：综合报道） LG新能源4月29日宣布，与法国环境服务商Derichebourg成立电池回收合资企业，将投建电池回收工厂。两家公司持股比例各为50%。工厂 选址于法国北部瓦兹河畔布吕耶尔，预计2026年动工，2027年投产，年处理能力超2万吨。 此前在2023年8月， LG新能源还曾 联手华友钴业，在华布局电池回收业务。 are 全球领导 的电子 2 2 2 台 服 务 内 容 FT 品牌服务 研究咨询 资本服务 政府服务 品牌 论坛 研究 数据 融资 Ibo 规划 招商 宣传 报告 调研 咨询 报告 服务 展会 服务 雷 销 会员 品牌 旋滑 豐拔 国专 政府 投资 定位 顾问 顾问 合作咨询 邱先生 189 3802 3176 2 12 2 1 1 1 1 2 - 2 1 - 2 - 2 1 - ...

Group 1 - Renowned private equity firm Zhengyuan Investment recently conducted research on five listed companies [1][2][3] - Kuaihua Pharmaceutical signed a cooperation intention letter with Peking University Medical Department to establish a joint laboratory for enzyme sources and innovative drugs in 2024 [1] - Qingda Environmental Protection provides energy-saving and environmental protection solutions for various industries including power, chemicals, and waste treatment [1] - Zhongjian Technology invested in 1X Holding AS, entering the artificial intelligence robotics sector [2] - Jinyang Co., Ltd. reported a main revenue of 324 million yuan in Q1 2025, a year-on-year increase of 26.59%, but a net profit decline of 14.49% [2] - Dongsheng Technology holds a 2.54% stake in Bluestar Wisdom, involved in battery recycling and utilization, and is a leader in lithium battery cathode materials [3] Group 2 - Zhengyuan Investment was established in 2015 in Shenzhen Qianhai Free Trade Zone and has a private securities investment fund license [4] - The firm focuses on China's economic transformation and aims to connect social capital with quality industries, enhancing asset value for clients [4]