Core Viewpoint - Guangdong Jinseng 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, enhance production capacity, and solidify its market position [1][2]. Group 1: Company Overview - Jinseng New Energy focuses on lithium battery recycling and regeneration, covering mainstream battery systems such as ternary lithium batteries and lithium iron phosphate batteries, with products including lithium carbonate, nickel sulfate, and cobalt sulfate [2]. - The company is recognized as the second-largest lithium battery recycling and regeneration enterprise globally, with a lithium metal recovery rate exceeding 95%, surpassing the industry average of 90% [2]. Group 2: Production Capacity and Expansion Plans - Jinseng New Energy 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]. - The company plans to expand upstream and downstream in lithium materials, continuously improve its integrated ecosystem for lithium battery recycling, and enhance its market share [2][4]. Group 3: Financial Performance - Financial data shows that Jinseng New Energy's revenue for 2022, 2023, and 2024 was approximately 2.905 billion, 2.892 billion, and 2.157 billion yuan, respectively, with net profits of 151 million, -471 million, and -344 million yuan [3]. - The company has faced losses in 2023 and 2024 primarily due to a significant decline in lithium carbonate prices, with average prices dropping from 196,400 yuan/ton in 2022 to 73,250 yuan/ton by September 30, 2023 [3].