GEM(SZ:002340)2026-03-10 12:18Financial Performance - The estimated net profit for 2025 is projected to be between ¥142,856.81 million and ¥173,468.99 million, representing a year-on-year growth of 40% to 70% [2][7] - Nickel resource shipments exceeded 110,000 tons in 2025, marking a year-on-year increase of over 110% [3][6] - Cobalt metal production reached nearly 10,000 tons, while cobalt recovery amounted to approximately 15,000 tons [3][6] - Tungsten resource recovery exceeded 10,000 tons, contributing to significant growth in the key metal resource recycling business [3][8] Business Segmentation - Key metal resource recycling accounted for 36.83% of total revenue in the first half of 2025 [4] - Lithium battery recycling contributed 4.93% to total revenue [4] - New energy battery materials represented 58.24% of total revenue [4] Strategic Partnerships - A strategic cooperation agreement was signed with China ENFI to enhance the development of key mineral resources [5] - The partnership aims to leverage complementary strengths and promote green, low-carbon, and efficient utilization of resources [5] Market Position and Operations - The company maintains a leading position in nickel resource profitability, utilizing high-pressure acid leaching (HPAL) technology for cost-effective production [6] - The nickel resource project is expected to maintain full production capacity of 150,000 tons per year in 2026 [6] - The company has implemented a market value management system to enhance shareholder value through performance growth, share buybacks, and cash dividends [7] Future Developments - The company is actively developing solid-state battery precursor materials, with products already available in ton-scale [8] - Ongoing maintenance and inspections are scheduled to ensure efficient production capacity release [7]