格隆汇1月29日丨格林美(002340.SZ)公布，预计2025年归属于上市公司股东的净利润14.29亿元～17.35 亿元，比上年同期增长40.00%～70.00%，扣除非经常性损益后的净利润12.26亿元～15.49亿元，比上年 同期变动-5.00%～20.00%。 2025年，公司印尼镍资源项目（含参股产能）镍金属实现出货超11万吨，同比增长110%以上，镍资源 自主产出创历史新高。面对镍价波动及复杂的全球贸易环境，公司根据不同的市场情况，通过构建灵活 的内部供应与外部销售体系，有效增强了供应链的韧性，确保了成本竞争力，为公司业绩的稳定与增长 奠定了坚实基础。2025年，公司印尼镍资源项目（含参股产能）自产钴金属实现出货近1万吨，同时公 司回收钴金属约1.5万吨，有效对冲刚果（金）长达6个月的钴禁运，满足了全球钴产品的核心供应。镍 资源项目出货量的大幅增长以及生产工艺与成本的持续优化有效消除了强降雨对产能的阶段性影响，推 动公司业绩实现增长，预计2026年镍资源项目15万吨/年产能（含参股产能）持续满产，将助推公司业 绩持续增长。2025年，公司回收循环再造钨资源量超1万吨，成为世界领先的绿色钨资源产业 ...

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]