Core Viewpoint - The company has reported significant growth in its first quarter of 2025, with record high sales revenue, net profit, and operating cash flow, driven by strong demand in its dual-track business model of urban mining and new energy materials manufacturing [24][25]. Financial Performance - The company achieved operating revenue of 9.496 billion yuan, a year-on-year increase of 13.67% [24] - Net profit attributable to shareholders reached 511 million yuan, up 12.10% year-on-year [24] - The net cash flow from operating activities was 634 million yuan, reflecting a substantial increase of 77.92% compared to the previous year [24] - Investment income surged by 1.35 billion yuan, marking a growth of 4,103.55% due to the sale of ECOPRO MAT shares [4] Business Operations - The average capacity utilization rate for core products exceeded 97%, with a strong average shipment growth rate of approximately 42% [24] - Nickel resource MHP shipments exceeded 25,000 tons, showing a significant year-on-year increase of over 138% [7] - The company has successfully completed the election of a new management team, focusing on attracting young and innovative talent to enhance its competitive edge [9][10] Strategic Initiatives - The company has initiated a global supplier alliance to address trade challenges and enhance market stability, involving over 120 global suppliers [13][25] - Strategic partnerships have been established with ECOPRO and other firms to develop an integrated supply chain for nickel resources and precursor materials in Indonesia [14][25] - The company is actively pursuing overseas capital market development, including plans for H-share issuance in Hong Kong [16] ESG and Social Responsibility - The company has signed a memorandum of understanding with UNU Yogyakarta University in Indonesia to promote higher education cooperation, reflecting its commitment to social responsibility and cultural exchange [17] - The company has achieved ISO37301 compliance management system certification, enhancing its risk management capabilities [19] Governance and Shareholder Engagement - The company has completed a new round of share repurchase amounting to 137 million yuan, aimed at boosting market confidence [16][37] - The company has consistently maintained high standards in information disclosure, receiving an A rating for eleven consecutive years from the Shenzhen Stock Exchange [36]

摘要 技术创新与应用场景的深度融合，将为超高镍三元材料打开新的增长空间。 在国际市场上，高镍三元长期主导着高端动力市场。长远来看，长续航动力电池、大圆柱电池、固态 电池等新技术需高镍三元材料作为载体，并要求其性能持续升级。 格林美公告， 2025 年 4 月 7 日，公司举行新一代超高镍 9 系核壳三元前驱体首次量产发货仪式 。 这 是 格林美 继 2022 年第一代高镍 8 系核壳三元前驱体成功量产以来，经过三年持续技术攻 关，取得 的 第二代超高镍 9 系核壳三元前驱体技术 的 突破性进展。 目前，格林美新一代超高镍 9 系核壳三元前驱体计划出货量约为 3000 吨 / 月，装配约 20000 辆 高端新能源汽车，产品 100% 供应国际头部新能源企业。 4 月 2 日，特朗普"对等关税"落地 ，政策采用全面"地毯式"关税与"一国一税率"的国别式关税叠 加，涵盖超过 60 个经济体 ， 且 本次加征关税的范围和幅度大超此前市场预期 。 由此，格林美 也成为全球唯一具备大规模生产超高镍 9 系核壳三元前驱体的企业。 而公司 新一代超高镍 9 系核壳三元前驱体正式出货启运， 也 标志全球新一代超高镍 9 系核 ...