Core Viewpoint - The National Market Regulation Administration has established national standards for the recycling and utilization of power batteries, emphasizing the importance of strategic metals like lithium, cobalt, and nickel in the context of the rapidly growing electric vehicle industry [1][2] Group 1: National Standards and Regulations - The National Market Regulation Administration has implemented national standards that require a comprehensive recovery rate of no less than 98% for nickel, cobalt, and manganese, and no less than 85% for lithium [1][2] - These standards are designed to support the development of "urban mines" from power batteries, ensuring the recovery of important metal resources [1] Group 2: Recycling System and Process - The standards provide detailed guidelines for the construction of recycling service points, including site selection, facilities, and personnel requirements, ensuring compliance and safety throughout the battery recovery process [1] - The regulations aim to prevent environmental pollution and safety incidents, laying a solid foundation for subsequent comprehensive utilization [1] Group 3: Key Intermediate Products and Resource Efficiency - The national standard for recycled black powder defines its properties, chemical composition, and harmful substance limits, which is crucial for improving the quality of domestic recycled black powder and ensuring environmental safety in downstream smelting processes [2] - The standards set strict resource recovery rate indicators, promoting investment in advanced recycling technologies and optimizing processes to maximize the recovery of important metal resources [2]

Macro Economic Group - In July, the industrial added value of above-scale enterprises in China grew by 5.7% year-on-year, a decline of 1.1 percentage points from June, while the market expectation was 5.8% [5] - The fixed asset investment growth rate from January to July was 1.6%, significantly below the WIND expectation of 2.7%, and down 2.1 percentage points from the first half of the year [5] - The retail sales of consumer goods in July saw a nominal year-on-year growth of 3.7%, lower than the WIND expectation of 4.9%, and a decrease of 1.1 percentage points from June [6] Industry Comprehensive Group - Guangdong Jiantao Group announced a price increase for copper-clad laminates due to high raw material costs, with prices rising by 10 yuan per sheet, leading to a price increase trend across the PCB and copper-clad laminate industry [9] - Multiple LED packaging companies have announced price hikes of 5%-10% due to rising costs of key materials like gold, silver, and copper, indicating a potential recovery in the LED packaging industry after a period of oversupply [9] Advanced Manufacturing Group - The import of 20 tons of recycled black powder for lithium-ion batteries marks a significant step towards a circular economy in China's battery industry, alleviating some supply pressures in the short term [12] - In July, the production and sales of new energy vehicles reached 1.243 million and 1.262 million units respectively, showing year-on-year growth of 26.3% and 27.4%, indicating a strong market performance [12] Consumer Group - Shengnong Development reported a revenue of 8.856 billion yuan in H1 2025, a slight increase of 0.22% year-on-year, with a net profit of 910 million yuan, reflecting a significant growth of 791.93% [16] - The company’s growth was driven by a decrease in comprehensive meat costs and investment income from acquisitions, alongside a strong performance in retail channels [16]