ENVISION GREEN(01783) and Hua You reached a battery recycling cooperation to build a green circular economy in Europe.

On January 7th, ENVISION GREEN (01783) announced that it has signed a battery recycling cooperation agreement with Huayou Green Energy Technology Netherlands B.V. ("Huayou Green Energy") on December 27, 2024. The two parties will rely on the existing 31 service points in Europe to provide end customers with a one-stop battery collection and disposal service. Huayou Green Energy will comply with the latest EU battery regulations to properly handle all types of batteries collected by ENVISION GREEN in its localized disposal facilities in Europe. According to the agreement, ENVISION GREEN will leverage its expertise in reverse supply chain management to provide a one-stop battery recycling solution for customers such as vehicle manufacturers, energy storage system providers, and battery manufacturers. Huayou Green Energy will provide professional support for back-end battery processing. This cooperation complements the strengths of ENVISION GREEN and Huayou in the field of battery recycling, creating a complete closed-loop system from battery collection, transportation, processing to material recycling. This cooperation is part of the battery recycling and reverse logistics business cooperation planned under a memorandum of understanding signed by ENVISION GREEN and Zhejiang Huayou Circular Technology Co., Ltd. ("Huayou") in September 2024. Both Huayou and Huayou Green Energy are subsidiaries of Zhejiang Huayou Cobalt Co., Ltd. (603799.SH), focusing on battery and material recycling, providing comprehensive solutions for various batteries, including lithium-ion batteries, globally. The board of directors of ENVISION GREEN believes that this cooperation will optimize the battery recycling business, and the two parties will jointly develop innovative cooperation models to create efficient and effective battery material recycling and green logistics solutions globally and locally, further consolidating ENVISION GREEN's position as a global leader in the new energy business market. ENVISION GREEN has shown strong performance recently, with its stock price repeatedly hitting new highs. By the end of 2024, the company's stock price had risen by more than 265% over the year, surpassing a market value of over HK$10 billion, demonstrating strong growth momentum. The company's performance in the mid-year of 2024 was impressive, with revenue from reverse supply chain management and environmental services increasing by 138.23% year-on-year, indicating significant progress in the field of battery recycling and related businesses. The company is actively expanding green energy solutions, including new battery storage systems and electric vehicle charging solutions, integrated services for building energy efficiency transformation, and is committed to building a circular economy model to achieve sustainable development.