证券日报网2月10日讯 ，赛恩斯在接受调研者提问时表示，由于金属铼储量稀少、独立矿床极少的特 性，使得铼市场区别于铜、铝等大宗商品市场，是一个供需高度集中且呈现供给刚性的战略性小市场， 公司在铼资源回收上的优势表现在如下三个方面：一是深厚的技术积累和强大的研发创新能力，公司在 2015年就已于研发污酸资源化技术过程中获得有关铼综合回收的专利技术，同时公司保持与中南大学、 中国矿业大学等专业院所进行产学研合作，积极攻关铼酸铵至金属铼的高价值化加工技术，力争在未来 实现更高附加值的产品布局；二是长期良好的合作关系，矿业企业作为公司的重要客户，也是铼产业链 的上游企业，多年合作积累有利于公司稳定原料供应；三是优质的项目管理经验，公司铼资源综合回收 技术在多地成功实现了工业化应用，与吉林紫金、黑龙江紫金等企业合作的铼回收项目已经实现铼资源 的连续稳定生产。公司现有的工业化生产管理经验和技术积累，为公司进行铼资源回收奠定了坚实的基 础。 （文章来源：证券日报） ...

Core Viewpoint - The company, Greeenmei (002340.SZ), anticipates a significant increase in net profit for 2025, with projections indicating a growth of 40% to 70% compared to the previous year, despite a slight decline in net profit excluding non-recurring gains and losses [1] Group 1: Financial Projections - The expected net profit attributable to shareholders for 2025 is between 1.429 billion to 1.735 billion yuan [1] - The net profit after excluding non-recurring gains and losses is projected to be between 1.226 billion to 1.549 billion yuan, reflecting a change of -5% to 20% compared to the previous year [1] Group 2: Nickel Resource Project - The company's nickel resource project in Indonesia is expected to ship over 110,000 tons of nickel metal in 2025, representing a year-on-year increase of over 110% [2] - The project is anticipated to achieve a record high in self-produced nickel resources, enhancing supply chain resilience and cost competitiveness [2] - The company plans to maintain a production capacity of 150,000 tons per year for the nickel resource project in 2026, which is expected to further drive performance growth [2] Group 3: Cobalt and Battery Recycling - The nickel resource project is also expected to ship nearly 10,000 tons of self-produced cobalt metal, while the company will recover approximately 15,000 tons of cobalt, effectively countering the six-month cobalt embargo from the Democratic Republic of Congo [2] - The company recycled over 52,000 tons of power batteries in 2025, marking a year-on-year increase of over 45%, indicating a promising outlook for recycling [2] Group 4: Other Resource Recovery - The company recovered over 10,000 tons of tungsten resources in 2025, establishing itself as a leading green tungsten resource industry base [2] - The shipment of cathode materials exceeded 23,000 tons in 2025, showing a year-on-year growth of over 15% and highlighting the company's competitive advantage [2] - The shipment of nickel-cobalt precursors surpassed 160,000 tons in 2025, despite a decline compared to 2024, with ongoing optimization of product structure contributing to quality and efficiency improvements [2]

Core Viewpoint - Greeenmei has established the world's largest recycling base for key metals such as nickel, cobalt, and tungsten, significantly enhancing its position in the global competition for these resources [1] Group 1: Company Achievements - The company has achieved an annual recycling capacity of cobalt resources that exceeds 350% of China's original cobalt mining output [1] - The annual recycled nickel resources account for 20% of China's original nickel mining output [1] - The annual recycled tungsten resources represent 10% of China's original tungsten mining output [1] Group 2: Production and Sales Data - By the third quarter of 2025, the company's nickel resource projects produced 6,534 tons of cobalt metal (including equity production capacity) [1] - Cobalt recovery exceeded 6,000 tons, while nickel-cobalt precursor shipments reached over 120,000 tons [1] - The shipment of cathode materials amounted to 17,000 tons, and the recycled tungsten resource shipment reached 5,590 tons (measured in WC) [1]

Core Viewpoint - Greeenme has established the world's largest recycling base for key metal resources, significantly enhancing its position in the global competition for critical metals [1] Group 1: Key Metal Resource Recycling - The company has built the largest recycling base for nickel, cobalt, and tungsten, with annual cobalt recycling exceeding 350% of China's original cobalt mining volume [1] - Annual nickel recycling accounts for 20% of China's original nickel mining volume [1] - Annual tungsten recycling represents 10% of China's original tungsten mining volume [1] Group 2: Future Projections - In 2024, the company plans to recycle 20,000 tons of nickel [1] - By the third quarter of 2025, cobalt recycling is expected to exceed 6,000 tons, significantly supplementing cobalt supply during the Congolese cobalt embargo [1]

Core Viewpoint - Greeenmei has submitted a listing application to the Hong Kong Stock Exchange, with joint sponsors being JPMorgan, CITIC Securities, and CITIC Securities International [1] Group 1: Company Overview - Greeenmei is a leader in the critical metal resource recycling and lithium-ion battery recycling industry, as well as a leading enterprise in the global new energy materials manufacturing sector [1] - The company's business encompasses critical metal resources (nickel, cobalt, tungsten, lithium, etc.), lithium-ion battery and end-of-life vehicle recycling, and the new energy materials field [1] Group 2: Key Achievements - In the critical metal resource recycling sector, Greeenmei ranks first in China for the recovery of nickel, cobalt, and tungsten, and is a pioneer in global nickel-cobalt-manganese (MHP) production, with an annual production capacity of 150,000 tons, ranking among the top three globally in terms of equity output [1] - In the lithium-ion battery and end-of-life vehicle recycling field, the company ranks first in the domestic third-party retired lithium-ion battery recycling market [1] Group 3: New Energy Materials - Greeenmei produces ternary precursors and cathode materials for lithium-ion batteries, as well as cobalt tetroxide for 3C batteries, ranking second globally in the supply of ternary precursors and cobalt tetroxide [1] - The company has established long-term partnerships with nine of the top ten lithium-ion battery companies worldwide, demonstrating its capability to achieve self-sufficiency in some key raw materials required for new energy materials production [1]

Core Viewpoint - The company, Feinan Resources, is enhancing its core competitiveness through the implementation of projects in Guangxi and Jiangxi, focusing on the comprehensive recycling of multiple metals, including copper, nickel, zinc, tin, gold, silver, and palladium [1] Group 1 - The company has achieved deep resource utilization of eighteen types of metals through its projects [1] - Feinan Resources aims to continue its focus on "urban mining" resources and the comprehensive recycling of multiple metals [1] - The company is closely monitoring the development trends and potential opportunities in the upstream and downstream of the industry chain [1] Group 2 - Currently, the company has no business related to rare earth elements [1]

Core Insights - Huanggang Mingbo Sheng Metal Resources Co., Ltd. has been established with a registered capital of 100,000 RMB [1] Company Overview - The company is engaged in various activities including processing and recycling of metal and non-metal waste materials, sales of metal products, and recovery of used batteries from new energy vehicles [1] - The business scope includes general projects such as metal scrap processing, recycling of renewable resources, and sales of construction materials and machinery [1] Industry Implications - The establishment of this company reflects a growing trend in the recycling and resource recovery industry, particularly in the context of increasing environmental regulations and sustainability initiatives [1] - The focus on new energy vehicle battery recovery indicates a strategic alignment with the rising demand for sustainable practices in the automotive sector [1]