GEM(SZ:002340)2022-12-06 05:08Group 1: Cobalt Supply and Production - The company has over ten years of experience in cobalt metal recycling, establishing a comprehensive recycling channel for cobalt-containing waste materials, including waste hard alloys and battery materials [3] - In 2016, the company signed a contract with the government of KwaZulu-Natal, South Africa, investing $110 million to build a global cobalt-nickel raw material recycling base [3] - The company maintains a long-term strategic partnership with international mining giants like Glencore to ensure a stable supply of rare metal raw materials [3] Group 2: Production Capacity - The company has built the largest cobalt-nickel raw material production system in China since 2005, with a production capacity of 46,000 tons for cobalt oxide and NCM/NCA precursors across three major bases [4] - The production capacity for lithium cobalt oxide and nickel-cobalt-manganese oxide in Wuxi, Jiangsu, reaches 12,000 tons [4] Group 3: Market Demand and Product Development - The company has increased its investment in research and technology for battery materials since 2016, establishing a power battery materials research institute [4] - Due to a significant rise in cobalt prices, there has been a supply tightness for precursor and cathode materials, with some products currently in short supply [4] - The company plans to gradually introduce high-nickel products such as 622 and 811 types this year [5] Group 4: E-Waste Recycling and Future Plans - In 2016, the company processed over 1 million sets of electronic waste, implementing a refined recycling model for electronic waste and precious metal recovery [5] - The company has established dismantling bases for scrapped vehicles in multiple locations, creating a complete industrial system for scrapped vehicle processing [5] - Future strategies include a focus on "urban mining + new energy materials" to enhance the value and prospects of scrapped vehicles, especially with the rise of new energy vehicles [5]