Core Viewpoint - Guangdong Jinsing 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, thereby enhancing its market share and industry position [1][2]. Group 1: Company Overview - Jinsing New Energy is a leading domestic enterprise in lithium battery recycling and regeneration, focusing on mainstream battery systems such as ternary lithium batteries and lithium iron phosphate batteries [1][2]. - The company has established three production bases in Zhaoqing, Guangdong Province, and Yichun and Ganzhou in Jiangxi Province, with a total production capacity of approximately 76,600 tons per year for lithium carbonate, nickel sulfate, and cobalt sulfate by the end of 2024 [2]. Group 2: Financial Performance - The company's revenue from 2022 to 2024 was approximately 2.905 billion yuan, 2.892 billion yuan, and 2.157 billion yuan, respectively, with net profits of 151 million yuan, -471 million yuan, and -344 million yuan [3]. - The decline in lithium carbonate prices has significantly impacted the company's financial performance, leading to losses in 2023 and 2024, with continued losses expected in the first half of 2025 [3]. Group 3: Market Position and Strategy - According to a Frost & Sullivan report, Jinsing New Energy is the second-largest lithium battery recycling and regeneration company globally, with a lithium metal recovery rate exceeding 95%, surpassing the industry average of 90% [2]. - The company plans to use part of the raised funds for the construction of a lithium iron phosphate battery recycling plant in Ganzhou, expand upstream raw material resources, and enhance research and development capabilities [4].