Jinjing Xinneng (01783) and Huayou reached a battery recycling cooperation to establish a closed loop of European green cycle

Zhitong Finance App News, on January 7, Jinjing Xinneng (01783) announced that it will sign a battery recycling cooperation agreement with Huayou Green Energy Technology Netherlands B.V. (“Huayou Green Energy”) on December 27, 2024. The two sides will rely on the existing 31 service points in Europe to provide one-stop battery collection and disposal services for terminal customers. In accordance with the EU's latest battery law, Huayou Green Energy will handle all types of batteries collected by Jinjing Xinneng in compliance with its European localized disposal facility.

According to the agreement, Jinjing Xinneng will use its advantages in reverse supply chain management to provide one-stop battery recycling solutions for customers such as vehicle manufacturers, energy storage system providers, and battery manufacturers. Huayou Green Energy provides professional support for back-end battery handling. This cooperation has achieved the complementary advantages of Jinjing Xinneng and Huayou in the field of battery recycling, and has established a complete closed loop system from battery collection, transportation, and treatment to material recycling and reuse.

This cooperation is part of the battery recycling and reverse logistics business cooperation planned in a memorandum of understanding signed between Jinjing Xinneng and Zhejiang Huayou Recycling Technology Co., Ltd. (“Huayou”) in September 2024. Both Huayou and Huayou Green Energy are subsidiaries of Zhejiang Huayou Cobalt Co., Ltd. (603799.SH). They focus on battery and material recycling, and provide comprehensive recycling solutions for various types of batteries, including lithium-ion batteries, on a global scale.

The board of directors of Jinjing Xinneng believes that this cooperation will optimize the battery recycling business. The two sides will jointly develop innovative cooperation models, create efficient and effective battery material recycling and green logistics solutions globally and locally, and further strengthen Jinjing Xinneng's position as a leader in the global new energy business market.

Jin Jing Xinneng has performed strongly recently, and its stock price has repeatedly reached new highs. By the end of 2024, the company's stock price had risen by more than 265% during the year, and its market capitalization exceeded HK$10 billion, showing a strong growth trend. The company's 2024 interim performance was impressive, with revenue from reverse supply chain management and environment-related services increasing by 138.23% year on year, indicating that it has made significant progress in battery recycling and related business areas. The company is actively developing green energy solutions, including new battery energy storage systems, electric vehicle charging pile solutions, and integrated services for building energy saving transformation, etc., and is committed to building a circular economy model to achieve sustainable development.