Core Viewpoint - Guangdong Jinsheng New Energy Co., Ltd. has submitted an application to the Hong Kong Stock Exchange, positioning itself as a leading provider of lithium battery recycling and regeneration solutions globally, aiming for a sustainable future [1] Group 1: Company Overview - Jinsheng New Energy is the second largest lithium battery recycling and regeneration company globally by sales revenue in 2024, and the largest third-party provider in this sector [1] - The company has established an integrated ecosystem for lithium battery recycling since its inception in 2014, leveraging its first-mover advantage and comprehensive capabilities [1] Group 2: Fundraising and Use of Proceeds - The funds raised from the application will be used for the construction of a facility in Ganzhou, Jiangxi Province, to process retired lithium iron phosphate batteries, expand upstream raw material resources, enhance R&D capabilities, and attract talent [1] Group 3: Financial Performance - In 2024, the company reported a revenue of 2.157 billion yuan, a year-on-year decrease of 25.39%, and a net loss attributable to shareholders of 344 million yuan, an improvement from a loss of 471 million yuan in the previous year [2] - For the first half of 2025, the company achieved a revenue of 937 million yuan, down 5.83% year-on-year, with a net loss of 144 million yuan, slightly worse than the loss of 143 million yuan in the same period last year [2] Group 4: Cash Flow Analysis - In 2024, the net cash flow from operating activities was -187 million yuan, a decrease of 129 million yuan year-on-year, while financing activities generated a net cash flow of 652 million yuan, down 216 million yuan [6] - For the first half of 2025, the net cash flow from operating activities was 638,000 yuan, a significant decline of 98.4% year-on-year [6] Group 5: Asset Changes - As of June 2025, the company's cash and cash equivalents increased by 48.98%, while inventory decreased by 57.97% [10] - Prepaid accounts decreased by 22.83%, and fixed assets increased by 1.42% [10] Group 6: Liability Changes - As of June 2025, long-term borrowings decreased by 19.77%, while deferred income increased by 22.25% [13] - Other payables decreased by 16.63%, and accounts payable increased by 0.78% [13]

Core Viewpoint - Jinsheng New Energy has submitted a listing application to the Hong Kong Stock Exchange, with CICC and China Merchants International as joint sponsors [1] Company Overview - Jinsheng New Energy is a leading provider of lithium battery recycling and regeneration solutions, ranked second globally and first in third-party recycling [1] - The company's operations include the recycling of ternary lithium batteries and lithium iron phosphate batteries, with products widely used in electric vehicles, energy storage systems, and consumer electronics [1] Market Potential - The global market for lithium battery recycling and regeneration solutions is expected to grow rapidly, with a projected processing scale of 20.6 million tons by 2031 and a compound annual growth rate (CAGR) of 48.1% [1] Production Facilities - Jinsheng New Energy has three production facilities located in Zhaoqing, Guangdong Province, and Yichun and Ganzhou in Jiangxi Province, with its retired lithium battery regeneration capacity and regenerated product output ranking second in the world [1]