Core Viewpoint - The company, together with its partners, has signed an investment cooperation agreement to establish a joint venture focused on the green recycling of used lithium-ion batteries in Jiangsu Province, indicating a strategic move towards sustainable practices in the battery industry [1] Group 1: Joint Venture Details - The joint venture, named Beikang Resource Technology (Jiangsu) Co., Ltd., will have a registered capital of 788 million yuan, with the company contributing 78.8 million yuan for a 10% equity stake [1] - The joint venture aims to develop a project for the green recycling of used lithium-ion batteries, located in the chemical park of the Pizhou Economic Development Zone [1] Group 2: Project Phases and Capacities - The project will be constructed in two phases, with the first phase targeting a battery pack dismantling and crushing capacity of 10,000 tons per year, processing 32,000 tons of ternary black powder, and handling 1,500 tons of waste catalysts [1] - The first phase also includes production targets of 11,000 tons per year of ternary precursors and 5,460.5 tons per year of lithium carbonate [1]

Core Viewpoint - The company is actively engaging in the battery recycling sector to align with global carbon reduction trends and meet sustainability regulations for battery products [1] Group 1: Investment and Partnerships - The company signed an investment cooperation agreement on October 16, 2025, with Beijing Beikang Resource Recycling Technology Co., Ltd., Pizhou Circular Economy Industrial Park Development Co., Ltd., and Chengtong Kechuang Investment Fund (Beijing) Partnership (Limited Partnership) to establish a joint venture in Pizhou, Jiangsu Province [1] - The joint venture, named Beikang Resource Recycling Technology (Jiangsu) Co., Ltd., will focus on the green recycling of used lithium-ion power batteries [1] Group 2: Project Details - The joint venture will invest in a "Green Recycling Project for Used Lithium-Ion Power Batteries" located in the Pizhou Economic Development Zone [2] - The project will be constructed in two phases, with the first phase planned to have a battery pack dismantling and crushing capacity of 10,000 tons per year, a processing capacity for ternary black powder of 32,000 tons per year, and a waste catalyst processing capacity of 1,500 tons per year [2] - The first phase aims to produce 11,000 tons per year of ternary precursors and 5,460.50 tons per year of lithium carbonate [2]

Core Viewpoint - The company is actively engaging in the battery recycling sector to align with global carbon reduction trends and meet sustainability regulations, thereby enhancing its supply chain stability and fulfilling its corporate responsibility towards green development [1]. Group 1: Investment and Partnerships - The company has signed an investment cooperation agreement with Beijing Beikang Resource Recycling Technology Co., Ltd., Pizhou Circular Economy Industrial Park Development Co., Ltd., and Chengtong Kechuang Investment Fund (Beijing) Partnership (Limited Partnership) to establish a joint venture in Pizhou, Jiangsu Province [1]. - The joint venture, named Beikang Resource Recycling Technology (Jiangsu) Co., Ltd., will focus on the green recycling of used lithium-ion power batteries [1]. Group 2: Project Details - The joint venture will invest in a "Green Recycling Project for Used Lithium-Ion Power Batteries," located in the Pizhou Economic Development Zone Chemical Park [2]. - The project will be developed in two phases, with the first phase aiming for a battery pack dismantling and crushing capacity of 10,000 tons per year, processing 32,000 tons of ternary black powder, and handling 1,500 tons of waste catalysts [2]. - The first phase will also produce 11,000 tons of ternary precursors and 5,460.50 tons of lithium carbonate annually [2].

Core Viewpoint - The company plans to establish a joint venture with several partners to focus on the green recycling of used lithium-ion batteries, indicating a strategic move towards sustainability and innovation in the battery industry [1] Group 1: Joint Venture Details - The joint venture will be named Beikang Zihuan Technology (Jiangsu) Co., Ltd. and will be responsible for the green recycling of used lithium-ion power batteries [1] - The registered capital of the joint venture is set at 78.8 million yuan, with the company committing to contribute 7.88 million yuan, representing a 10% equity stake in the venture [1] Group 2: Management and Governance - The company has also approved the assessment indicators for the Chairman and senior management for the year 2025, reflecting a focus on governance and performance metrics [1]

Core Insights - The battery recycling market, valued at over a trillion, is witnessing a significant shift where licensed companies are exiting the market while unlicensed small workshops are profiting substantially from the situation [1] Group 1 - The battery recycling market is estimated to be worth over a trillion [1] - Licensed companies are collectively withdrawing from the battery recycling sector [1] - Unlicensed small workshops are reportedly making significant profits in the battery recycling space [1]

Group 1 - The company does not engage in rare earth business but has a battery recycling operation [2] - The company utilizes a rich oxygen side-blowing process in nickel smelting, which allows for the production of certain precious metals [2] - The company has pioneered a centrifugal extraction technology that can be applied to the recovery of precious metals, enhancing its competitive advantage through efficient and environmentally friendly modern processes [2]

Core Viewpoint - JinkoSolar (02945) shares surged over 60%, currently up 58.21% at HKD 6.17, with a trading volume of HKD 106 million due to the announcement of its stock split and inclusion in the Hong Kong Stock Connect list effective September 23, 2025 [1] Group 1 - The Shanghai and Shenzhen Stock Exchanges announced the adjustment of the Hong Kong Stock Connect securities list, which includes JinkoSolar (01783) due to its stock split [1] - The Hong Kong government is promoting the establishment of the first large-scale electric vehicle battery recycling facility, which is expected to enhance the industry landscape [1] - JinkoSolar's project, the first power battery processing facility in Hong Kong, is set to commence construction in June 2024, with basic infrastructure already completed and operations expected to start in 2026 [1]

Group 1 - Jin Jing New Energy (02945) surged over 60%, currently up 58.21% at HKD 6.17, with a trading volume of HKD 106 million [1] - The Shanghai and Shenzhen Stock Exchanges announced that due to the share split of Jin Jing New Energy (01783), the Hong Kong Stock Connect eligible securities list will be adjusted, effective from September 23, 2025, adding Jin Jing New Energy (02945) [1] - The recent Hong Kong policy address highlighted the government's push for the city's first large-scale electric vehicle battery recycling facility, with Jin Jing New Energy's project expected to commence construction in June 2024 and be operational by 2026 [1]

Core Viewpoint - Hong Kong's strong support for the development of the new energy industry is a significant catalyst for the accelerated growth of Jin Jing New Energy (01783) [1][2] Group 1: Government Support and Policy - The Hong Kong government aims to achieve carbon neutrality by 2050, with the new energy industry playing a crucial role [1] - The first large-scale electric vehicle battery recycling facility in Hong Kong is expected to be operational in the first half of 2026, which will convert retired batteries into regenerated black powder for supply to mainland China and surrounding areas [1][2] - The facility, being constructed by Jin Jing New Energy, has received official endorsement from the government, ensuring its smooth production [1][2] Group 2: Market Demand and Strategic Positioning - The battery recycling facility is designed to meet the electric vehicle battery processing needs outlined in Hong Kong's 2035 plan, with an expected trial operation by the end of 2025 [2] - Jin Jing New Energy has secured strategic partnerships with leading global electric vehicle manufacturers to ensure a steady supply of retired batteries, establishing a competitive advantage [2][3] - The rapid growth of electric vehicles in Hong Kong, with approximately 128,600 electric vehicles as of July 2025, necessitates the development of battery recycling and disposal facilities [2][3] Group 3: Future Market Potential - If all private cars are converted to electric vehicles by 2035, the total electric vehicle ownership could reach around 600,000, creating a battery recycling market worth over 100 billion [3] - The Hong Kong government's support for Jin Jing New Energy's facility aligns with the broader trend of new energy industry development [3] Group 4: Global Expansion and Strategic Alliances - Jin Jing New Energy is expanding its global battery recycling service network, with over 70 service points in 28 countries, enhancing local operational capabilities [4] - The establishment of a global battery recycling network platform aims to achieve a recycling capacity of 120,000 tons per year by 2030 [7] - The recent rebranding of a subsidiary to Jin Jing International Development signifies the integration of Jin Jing New Energy's global market network with national policy and resource platforms [6] Group 5: Financial Performance and Growth - Jin Jing New Energy's revenue from reverse supply chain management and environmental services surged by 710.41% to 229 million in the fiscal year ending March 31, 2024 [8] - The revenue for the fiscal year 2025 is projected to reach 696 million, reflecting a year-on-year increase of 204.21%, with this segment accounting for approximately 80% of total revenue [8][9] - The company is poised for explosive growth as it approaches the peak period for battery retirements, with multiple favorable factors contributing to its development [9]

Core Viewpoint - Hong Kong's strong support for the development of the new energy industry is a significant catalyst for the accelerated growth of Jin Jing New Energy (01783) [1] Group 1: Government Support and Industry Growth - The Hong Kong government aims to achieve carbon neutrality by 2050, with the new energy industry playing a crucial role [1][2] - The first large-scale electric vehicle battery recycling facility in Hong Kong, supported by the government, is expected to be operational in the first half of 2026 [1][2] - The facility, being constructed by Jin Jing New Energy, is designed to meet the battery processing needs outlined in Hong Kong's 2035 electric vehicle plan [2][3] Group 2: Market Demand and Strategic Partnerships - The rapid growth of electric vehicles in Hong Kong has led to an increasing demand for battery recycling and disposal facilities [2] - As of July 2025, the total number of electric vehicles in Hong Kong is approximately 128,600, accounting for about 14.3% of all vehicles [2] - Jin Jing New Energy has established strategic partnerships with leading global electric vehicle manufacturers to secure sources of retired batteries, creating a competitive advantage [2][6] Group 3: Global Supply Chain and Strategic Significance - Jin Jing New Energy's operations in Hong Kong are strategically significant for building a global supply chain for recycled resources [4][5] - The company has a presence in over 28 countries with more than 70 service points, enhancing its local operational capabilities [4] - The establishment of a battery disposal facility in Hong Kong is seen as a key initiative for the city's transition to an "international green technology hub" [5] Group 4: Financial Performance and Future Growth - Jin Jing New Energy's revenue from reverse supply chain management and environmental services surged by 710.41% to 229 million yuan in the fiscal year 2024 [8] - The revenue for fiscal year 2025 is projected to reach 696 million yuan, a year-on-year increase of 204.21%, with this segment accounting for approximately 80% of total revenue [8][9] - The company is well-positioned to capitalize on the upcoming peak in battery retirements, with significant growth potential anticipated [9][10]