近年来，动力电池生产厂商、车企、第三方回收公司等主体纷纷布局废旧动力电池综合利用业务。有预测显示， 2023年，我国废旧电池退役量超过58万吨；2025年，我国动力电池退役量将达82万吨；2028年开始，动力电池退役 量将超过260万吨。废旧电池中富含有价值的金属元素，如镍、钴、锰和锂等。面对价格波动明显加剧的原材料市 场，新能源企业如何对回收的元素进行套保变得愈发重要。 东证期货风险管理公司——东证润和资本管理有限公司（简称东证润和）基于行情研判，在满足新能源企业风险管 理需求的情况下，为其定制了个性化的期权方案。 新能源企业回收动力电池后进行拆解，并提取碳酸锂，企业碳酸锂销售收入占比超过60%。2024年9月，企业回收 了400吨废旧电池，预计能提取60吨碳酸锂（电池回收比为15%）。彼时，提取碳酸锂价格与现货价格相比存在倒 挂现象，且碳酸锂价格下跌导致企业利润缩水。企业希望对未来产出的碳酸锂进行套保，既能提高利润又能降低价 格下跌风险。 东证润和针对企业的敞口风险，设计衍生品风险管理创新方案，将企业需求与期权产品融合，在管理风险的同时增 厚收益。 海南一家涉及动力电池回收的新能源企业（简称新能源企业）在 ...

香港品质保证局作为中国香港地区最具领导地位的评定机构之一，长期致力于推动绿色创新与可持续发 展标准建设。此嘉许活动旨在表扬不同机构在推动楼宇、设施及电动车的能源效益优化、新能源设施及 网络发展、低碳建筑及相关产品发展、银发经济、碳披露与核查、促进ESG 生态圈、可持续设计和绿 色金融科技发展等范畴的承诺和贡献，藉此推动碳交易市场及低碳经济圈的建设工作。 晋景新能旗下"香港首间动力电池处理设施"今年被列入香港《2025年施政报告》，预计2026年上半年启 用。作为 ESG 领域的持续践行者，公司加速打造国际化动力电池回收平台，并在全球设立超过70个服 务点，其绿色实践正是对 HKQAA 奖项倡导的 "新能源资源循环利用""低碳转型" 等核心方向的精准呼 应 —— 这一实践既形成了新能源产业链的绿色闭环，为行业低碳发展提供了切实可行的解决方案，也 成为其在环保贡献与可持续发展层面持续获得外部正面评价的核心支撑，进一步巩固了其在绿色领域的 行业口碑。 智通财经APP获悉，12月17日，由香港品质保证局(HKQAA)主办的首届"香港绿色和可持续创科贡献大 奖2025"颁授典礼中，晋景新能(01783)凭借在绿色领域的 ...

香港品质保证局作为中国香港地区最具领导地位的评定机构之一，长期致力于推动绿色创新与可持续发 展标准建设。此嘉许活动旨在表扬不同机构在推动楼宇、设施及电动车的能源效益优化、新能源设施及 网络发展、低碳建筑及相关产品发展、银发经济、碳披露与核查、促进ESG生态圈、可持续设计和绿色 金融科技发展等范畴的承诺和贡献，藉此推动碳交易市场及低碳经济圈的建设工作。 12月17日，由香港品质保证局(HKQAA)主办的首届"香港绿色和可持续创科贡献大奖2025"颁授典礼 中，晋景新能(01783)凭借在绿色领域的杰出表现，荣获绿色和可持续贡献"金章"，这一殊荣不仅彰显 了晋景新能在推动绿色转型方面的领先实力，也标志着其在环保与可持续发展领域的努力获得了权威机 构的高度认可。 晋景新能旗下"香港首间动力电池处理设施"今年被列入香港《2025年施政报告》，预计2026年上半年启 用。作为ESG领域的持续践行者，公司加速打造国际化动力电池回收平台，并在全球设立超过70个服务 点，其绿色实践正是对HKQAA奖项倡导的"新能源资源循环利用""低碳转型"等核心方向的精准呼应 ——这一实践既形成了新能源产业链的绿色闭环，为行业低碳发展提供了 ...

在近日新鲜出炉的2025三湘民营企业百强榜单上，宁乡9家企业集体亮相，如同9颗璀璨星辰，在湖南民 营经济的天空中绽放夺目光芒。这些企业横跨新能源储能材料、高端制造、智能家电、基建等多个核心 赛道，既是宁乡产业升级的"主力军"，更是湖南民营经济高质量发展的"硬支撑"，每一家都自带硬核基 因与发展密码。 新能源赛道的"领航者"，执掌产业升级方向盘 在新能源储能材料这条黄金赛道上，宁乡企业已然形成"集团军"作战态势，成为全国产业版图中不可忽 视的力量。 湖南中伟控股集团有限公司作为全球新能源材料领域的领军者，深耕锂电池正极材料与循环利用产业， 以技术创新为矛、以全产业链布局为盾，不仅撑起了宁乡新能源产业的"顶梁柱"，更在全球市场中抢占 了话语权，其产品广泛应用于国内外顶尖新能源车企与储能项目，成为行业技术迭代的"风向标"。 长沙晚报全媒体记者 张禹 在高端制造领域，宁乡企业以匠心铸精品，以创新破壁垒，彰显了"中国智造"的精度与深度。 楚天科技股份有限公司作为制药装备行业的领军者，深耕医药装备研发数十年，从智能化生产线到核心 零部件制造，始终以技术创新引领行业发展，产品远销全球数十个国家和地区，成为医药健康产业 的" ...

此份财报清晰表明了晋景新能向全球循环经济服务商转型已取得巨大成功，其搭建的全球循环经济服务 体系的庞大商业化价值正爆发式兑现。 若说强劲的业绩表现为投资者注入了坚定信心，那么与FMG(Fortune Metal Group Inc)的战略绑定，则真 正打开了晋景新能面向全球资源循环市场的战略发展空间。继今年5月与中资环国际达成战略伙伴后， 此次合作是晋景新能在海外再生资源体系布局的重要里程碑。这代表晋景新能不仅成为了保障国家战略 资源安全的"新样本"，也将为其成长为综合型的回收网络渠道商巨头以及全球领先的金属材料贸易循环 经济平台奠定坚实基础。 业绩爆发再度提速，加速驶入战略转型收获期 作为全球循环经济领域中的领先玩家，晋景新能(01783)横跨亚、美、欧三大洲的全球电芯循环服务体 系的巨大价值正迎来加速释放，这在其最新的财报中有直接体现。 12月10日，晋景新能发布了2026财年中期报告。数据显示，在截至9月30日止的6个月内，晋景新能的收 入约为8.16亿港元，同比增长228.6%，股东净利润成功实现扭亏为盈，录得盈利1510万港元。 收入大增、净利润扭亏的背后，得益于晋景新能逆向供应链管理及环保相关服务 ...

若说强劲的业绩表现为投资者注入了坚定信心，那么与FMG(Fortune Metal Group Inc)的战略绑定，则真 正打开了晋景新能面向全球资源循环市场的战略发展空间。继今年5月与中资环国际达成战略伙伴后， 此次合作是晋景新能在海外再生资源体系布局的重要里程碑。这代表晋景新能不仅成为了保障国家战略 资源安全的"新样本"，也将为其成长为综合型的回收网络渠道商巨头以及全球领先的金属材料贸易循环 经济平台奠定坚实基础。 作为全球循环经济领域中的领先玩家，晋景新能(01783)横跨亚、美、欧三大洲的全球电芯循环服务体 系的巨大价值正迎来加速释放，这在其最新的财报中有直接体现。 12月10日，晋景新能发布了2026财年中期报告。数据显示，在截至9月30日止的6个月内，晋景新能的收 入约为8.16亿港元，同比增长228.6%，股东净利润成功实现扭亏为盈，录得盈利1510万港元。 收入大增、净利润扭亏的背后，得益于晋景新能逆向供应链管理及环保相关服务的爆发式成长。报告期 内，晋景新能逆向供应链管理及环保相关服务的收入约为7.9亿港元，同比暴增401.78%，该业务占总收 入的比例上升至96.81%。 此份财报清晰表明 ...

Core Viewpoint - The global energy transition towards green and low-carbon solutions is accelerating, and battery recycling is emerging as a key growth opportunity within the new energy industry. The company, JinJing New Energy, has demonstrated significant progress in its recent semi-annual performance report, showcasing a successful strategic transformation and core competitiveness in the battery recycling sector [1]. Financial Performance Highlights - The company achieved a turnaround from loss to profit, with a reported profit attributable to shareholders of HKD 15.121 million, compared to a net loss in the same period last year [3]. - Total revenue reached HKD 816 million, marking a substantial year-on-year increase of 228.6%, positioning the company at the forefront of the new energy and environmental protection industry [3]. - Revenue from reverse supply chain management and environmental services accounted for over 90% of total revenue, growing by 401.6% year-on-year, indicating a successful strategic shift from traditional construction to green environmental services [3]. - Adjusted EBITDA increased from approximately HKD 15.9 million to about HKD 36.1 million, reflecting a growth rate of over 127%, highlighting improved profitability and operational efficiency [4]. - The company maintained healthy cash flow and reasonable debt levels while rapidly expanding its business, establishing a solid financial foundation for future growth [4]. Strategic Layout and Growth Drivers - The impressive financial performance is a direct result of the company's effective strategic implementation across three dimensions: business focus, global network development, and ecosystem construction [6][7]. - The strategic pivot towards the environmental sector is crucial for the recent performance surge, as the company has aligned its resources with the growing demand for battery recycling driven by the rapid development of electric vehicles and energy storage [8]. - JinJing New Energy has established itself as the first company in Hong Kong to obtain a full-chain battery disposal license, facilitating compliance in battery recycling operations [8]. - The company has made significant strides in global service network development, holding various government licenses and international certifications, which support its business expansion [9]. - Key strategic moves include securing exclusive trading rights with Fortune Metal Group in the U.S. and acquiring Green Jade Group, enhancing the company's operational network in Europe and Southeast Asia [9][10]. - The company has established over 70 service nodes across 28 countries, enabling localized operations and a global recycling service network, which enhances its ability to respond to diverse market demands [10]. - Collaborative efforts with industry leaders and cross-sector partnerships are extending the company's operational scope, integrating battery recycling with energy storage solutions [11]. Conclusion - As the global green economy continues to advance, JinJing New Energy is positioned at the forefront of the industry, demonstrating a clear strategic evolution path through significant mid-term performance growth, optimized business structure, and orderly global strategy implementation [13].

Core Insights - The article highlights the significant growth in the number of applications for vehicle trade-ins, with over 10 million applications by October 22, 2025, of which more than 3.4 million are for scrapping and over 6.6 million for replacement, with 57.2% being new energy vehicles [1][3]. Group 1: Market Trends - The main drivers for scrapping and replacing old new energy vehicles are their aging, rapid battery degradation, and safety concerns, with owners eligible for subsidies up to 20,000 yuan [3][4]. - The first wave of battery retirements is expected as the initial batch of new energy vehicles, which were popular from 2014 to 2017, reaches the end of their battery life, with a projected retirement volume of 820,000 tons by 2025 [4][8]. Group 2: Battery Recycling and Utilization - The article discusses two main pathways for handling retired batteries: "cascade utilization" for secondary applications and "recycling" for extracting valuable metals, which are essential for environmental sustainability and resource efficiency [10][11]. - The number of companies involved in battery recycling has surged to 172,000, indicating a growing interest and investment in this sector [8][10]. Group 3: Channels for Battery Disposal - There are four primary channels for disposing of retired batteries: official channels (government and manufacturer networks), third-party commercial channels (scrap yards and second-hand dealers), gray market channels (informal recyclers), and innovative models (like battery-as-a-service) [12][17][20]. - Official channels have established a network of over 10,908 battery recycling service points across China, with prices ranging from 150 to 400 yuan per kilowatt-hour depending on battery quality [15][17]. Group 4: Economic Considerations for Consumers - Consumers can maximize their returns by carefully choosing disposal methods, with potential earnings from battery sales and government subsidies reaching up to 22,000 yuan [29][33]. - The article emphasizes the importance of adhering to legal and environmental standards when disposing of batteries to avoid penalties and environmental harm [31][36]. Group 5: Policy Implications - Recent policy changes, such as the suspension of vehicle scrapping subsidies in certain regions, may impact consumer decisions regarding trade-ins and replacements [35][36]. - The article concludes that the transition in the new energy vehicle sector is not just a commercial challenge but also a test of sustainability and social responsibility in the context of battery recycling [36][37].

北京商报记者在采访中发现，正规回收企业普遍面临"无米下炊"的窘境，因为大量分散的"小作坊"在抢购废旧电池时能开出比正规企业高出10%—15%的价 格。 "上门回收、半小时到场、现场结算"……网络平台上，像这样"服务周全"的动力电池回收广告随处可见。随着新能源汽车普及提速，叠加储能、便携装备等 多元应用场景持续扩容，回收市场也呈现出供需两旺的态势。 但这番热闹背后，动力电池回收市场正深陷内忧外困："白名单"内的正规企业受技术投入大、合规运营成本高等因素制约，在价格竞争中明显处于劣势；与 之形成鲜明对比的是，无资质的小作坊凭借低成本优势，以低价策略致使超六成退役电池流入非法渠道，带来多重隐患。 正规军窘境：成本倒挂下的"无米之炊" 市场监管总局近日披露，2024年国内动力电池回收量超30万吨，市场规模达480亿元，动力电池回收市场迅速崛起。回收动力电池兼具环保与经济价值，从 环保角度，其含有的化学物质若随意丢弃会严重污染土壤和水源；从经济角度，退役电池可梯次循环利用，且富含锂、钴、镍等有价金属，回收再利用能降 低生产成本、提高资源利用率、形成新经济增长点。 然而，在目前的动力电池回收领域，全面符合国家标准规范的" ...

Core Viewpoint - The article discusses the growing issue of retired electric vehicle batteries in China, emphasizing the importance of recycling and repurposing these batteries to prevent environmental harm and to recover valuable metals like lithium, cobalt, and nickel, which are crucial for the industry [1][3]. Group 1: Battery Recycling and Utilization - China's electric vehicle battery stock has surpassed 40 million units, with the first generation of batteries entering a phase of large-scale retirement [1]. - The recycling of retired batteries can be categorized into two main methods: regeneration, which involves extracting valuable metals through processes like disassembly and smelting, and cascade utilization, which repurposes batteries for other applications such as emergency power sources [2][3]. - The market for battery recycling has already exceeded 300,000 tons, corresponding to a market size of over 48 billion yuan, with projections indicating it could surpass 100 billion yuan by 2030 [3]. Group 2: Challenges in Recycling - The battery recycling market in China is large but lacks standardization, leading to issues with unregulated small workshops profiting from the recycling process [4][5]. - The competition in the recycling market is intense, with many legitimate companies struggling to compete against informal channels that offer higher prices for retired batteries [5]. - There are significant challenges in the technical aspects of battery recycling, including reliance on manual labor for disassembly, which can lead to safety hazards and inefficiencies [5]. Group 3: Regulatory Framework and Standards - The Chinese government has introduced 22 national standards for battery recycling, covering various aspects such as collection, transportation, and processing to ensure safety and environmental protection [6][7]. - New standards have been established to improve the efficiency of battery disassembly by over 50% and to ensure that harmful substances are managed properly during the recycling process [6][7]. - The development of international standards for battery recycling is underway, with Chinese experts actively participating in international standardization efforts [8].