Group 1 - The core viewpoint of the article is that Greeenmei Co., Ltd. is pursuing an H-share listing on the Hong Kong Stock Exchange to accelerate its global expansion in the circular economy sector [1][2][4] - Greenmei's business encompasses two main areas: the production of ternary precursor materials and resource recycling, establishing a comprehensive value chain in the new energy lifecycle [2][3] - In the first half of 2025, Greenmei achieved a revenue of 17.561 billion yuan, a year-on-year increase of 1.28%, and a net profit attributable to shareholders of 799 million yuan, reflecting a growth of 13.91% [2] Group 2 - The H-share listing faces dual challenges: intensifying competition in the global new energy supply chain and the immature valuation logic of circular economy companies in the Hong Kong market [3] - Successful H-share IPO would be a critical step in Greenmei's global capital layout, with significant funding needed for its nickel production expansion in Indonesia and the deployment of intelligent dismantling equipment [3] - The listing represents a deep engagement of a circular economy leader with the capital market and reflects the transformation and upgrading of China's manufacturing industry [4]

Core Viewpoint - The company, Greeenme (格林美), plans to issue H-shares and list on the Hong Kong Stock Exchange to support its global development strategy and enhance its international brand image and competitiveness [1][6]. Group 1: Company Background and Development - Xu Kaihua, the founder of Greenme, transitioned from academia to entrepreneurship in 2001, recognizing the potential in the recycling industry during a visit to Japan [2][3]. - Greenme has established itself as a leader in the recycling of waste batteries and materials, achieving significant market shares in various products, including over 15% in ternary precursor materials and over 20% in cobalt tetroxide products globally [1][7]. - The company has expanded rapidly, with total assets increasing from 19.26 billion to 723.2 billion over 15 years, marking a 36.55-fold growth [6]. Group 2: Financial Performance and Future Goals - In 2024, Greenme reported revenues of 332 billion and a net profit of 10.2 billion, with a 13.67% year-on-year revenue growth in Q1 2025 [6][7]. - The company aims to double its revenue to 600 billion by 2027, indicating a strong growth trajectory and strategic planning for the upcoming years [1][8]. - Greenme's operational footprint includes 16 recycling and manufacturing plants across China and other countries, contributing significantly to the recycling of retired batteries and automotive waste [7]. Group 3: Industry Position and Collaborations - Greenme is deeply involved in global supply chain collaborations with major companies such as Samsung, CATL, and BYD, enhancing its competitive edge in the industry [7]. - The company has positioned itself as a key player in the circular economy, with a focus on sustainable practices and technological advancements in recycling [3][6].