Company Overview - Guangdong Jinsing New Energy Co., Ltd. (Jinsing New Energy) has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation and China Merchants Bank International as joint sponsors [1] - Jinsing New Energy is a leading provider of lithium battery recycling and regeneration solutions globally, focusing on a circular and clean future [3] Market Position - According to a report by Frost & Sullivan, Jinsing New Energy is the second-largest lithium battery recycling and regeneration company in the world by revenue from regeneration sales in 2024, and the largest third-party lithium battery recycling and regeneration enterprise globally [3] - The company's recycling business covers mainstream battery systems, including ternary lithium batteries and lithium iron phosphate batteries, with products widely used in electric vehicles, energy storage systems, and consumer electronics [3] Industry Growth - The global lithium battery recycling and regeneration solutions market is expected to grow rapidly, reaching a processing scale of 20.6 million tons by 2031, with a compound annual growth rate (CAGR) of 48.1% starting from 2024 [3] - Key growth drivers include the upcoming wave of lithium battery retirements, China's leading position in lithium batteries, and the increasing importance of lithium battery recycling in achieving global carbon reduction goals [3] Production Capacity - Jinsing New Energy has established three production facilities in Zhaoqing, Guangdong Province, and Yichun and Ganzhou in Jiangxi Province, providing comprehensive production capacity to meet the upcoming lithium battery retirement wave [4] - In 2024, the company's lithium battery recycling capacity and the production capacity of regenerated products will rank second in the world [4] Financial Performance - The company's revenue for the fiscal years ending June 30 for 2022, 2023, 2024, and the first half of 2025 were approximately RMB 2.905 billion, RMB 2.891 billion, RMB 2.157 billion, and RMB 937 million, respectively [4][6] - The net profit/loss for the same periods were approximately RMB 151 million, -RMB 471 million, -RMB 344 million, and -RMB 144 million, respectively [4][6]