New Stock News | Jiecheng New Energy Submitted Application to Hong Kong Stock Exchange, Third-Party Channel's lithium battery recycling volume ranks first globally.

According to the Hong Kong Stock Exchange's disclosure on May 28th, Shenzhen Jiecheng New Energy Technology Co., Ltd. (referred to as Jiecheng New Energy) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CMBC CAPITAL as the sole sponsor. Company Overview According to the prospectus, the company is a global leading independent lithium battery recycling and comprehensive utilization solution provider, dedicated to building a comprehensive supply chain of new energy green materials and becoming a globally respected well-known enterprise. According to data from Zhi Shi Consulting, based on third-party channel lithium battery recycling volume in 2025, the company ranks first globally. By 2025, the company will recycle 71,600 tons of lithium battery materials (including electrode sheets, battery cells, non-new/retired batteries, and other forms of materials), establishing comprehensive processing capabilities for lithium battery recycling across all categories, forms, and chains. The company's suppliers include battery manufacturers, electric vehicle manufacturers, insurance companies, energy storage operators, and various other channels. The company's customers mainly include leading battery manufacturers and battery material producers in China. The company acquires stable lithium battery recycling materials through a wide and stable raw material channel. After internal strict screening and testing, the materials are classified into different business segments based on their form and chemical properties. Lithium batteries with good remaining charge and discharge performance, battery packs, and battery cells are introduced into the company's recycling business line, where they are reconfigured into functional battery packs or battery assemblies through processes such as capacity voltage testing, charge-discharge testing, and packaging. Waste materials from factories that do not have recycling value and non-new/retired batteries undergo advanced discharge pre-treatment and refined recycling operations. After the recycling process is completed, the company sells its main recycled products (i.e., recycled black powder) based on market conditions. Meanwhile, some black powder is used in the company's wet process smelting process according to production plans to produce mixed metal salt solution products. The company's products cover three main categories: recycled products (ternary black powder, lithium iron phosphate black powder, high-purity lithium iron phosphate powder, and by-products), wet process smelting products (mixed metal salt solutions), and recycling products (reconfigured battery packs, battery assemblies, and battery cells). Financial Information Revenue In 2023, 2024, and 2025, the company's revenue was approximately RMB 1.158 billion, 1.171 billion, and 1.5 billion respectively. Profit In 2023, 2024, and 2025, the company's annual profits were approximately -151 million, -95.052 million, and 16.241 million RMB respectively. Industry Overview The global lithium battery market presents a diversified pattern with China as the dominant player, the European Union and the United States as important growth regions, and Southeast Asia as a rapidly emerging new hub. China maintains a leading position in installed capacity. With favorable policies support, the European Union and North America have achieved significant capacity expansion and will continue to grow steadily. Under the drive of energy transformation, the increase in penetration of new energy vehicles, and the improvement of the local industrial chain, Southeast Asia has become a new growth engine, and its battery installed capacity is expected to maintain strong growth. The electric vehicle battery segment is the main growth driver in the lithium battery market, maintaining strong expansion momentum. The deployment of renewable energy and the steady growth in demand for consumer electronics products also drive the continuous expansion of energy storage systems and consumer battery markets. Emerging sectors such as intelligent wearing and the low-altitude economy further promote the demand for lithium batteries in new application scenarios. These emerging batteries have the characteristics of a short replacement cycle and high circulation efficiency and are expected to be the fastest-growing segment in the global lithium battery industry. As the core hub of the global lithium battery industry, China occupies a leading market position. Its electric vehicle, energy storage system, and consumer battery markets are all on a high-speed growth trajectory throughout the forecast period. The strong growth of new energy vehicles has driven the deployment of electric vehicle batteries and supported the explosive expansion of the lithium battery recycling industry. As electric vehicle batteries reach the end of their service life, the number of non-new/retired batteries continues to increase, making them a core driver of the battery recycling industry. With the typical battery lifespan being 5 to 8 years, the massive deployment of new energy vehicles from 2018 to 2020 has opened China's battery retirement window, signaling that the first wave of battery retirements will arrive by 2025, and the explosive growth in battery retirements will begin in 2028. By the end of 2025, the number of electric vehicles owned by Shanxi Guoxin Energy Corporation exceeded 44 million, providing a solid foundation for the retirement of electric vehicle batteries. Board Information The board of directors consists of four executive directors, two non-executive directors, and three independent non-executive directors. Equity Structure As of the last practicable date (May 22, 2026), the company's equity is held by the following parties: (i) Shenzhen Jie Cheng Investment holds approximately 29.96%, with 90% owned by Mr. Zheng and 10% owned by Ms. Yang Man Na; (ii) Mr. Zheng holds approximately 9.81%; (iii) Shenzhen Jie Cheng Enterprise Management holds approximately 19.87%, with Mr. Zheng (as its general partner) owning 16.5736%; (iv) Shenzhen Jie Cheng Mingche Hui holds approximately 5.24%, with Mr. Zheng (as its general partner) owning 27%; (v) Shenzhen Jie Cheng Zhiyuan holds approximately 5.23%, with Mr. Zheng (as its general partner) owning 66.8863%; and (vi) Shenzhen Yongchang Xuan holds approximately 5.27%, with Mr. Zheng (as its general partner) owning 14.2856%. Due to the joint exercise of voting rights by Mr. Zheng, Shenzhen Jie Cheng Investment, Shenzhen Jie Cheng Enterprise Management, Shenzhen Jie Cheng Mingche Hui, Shenzhen Jie Cheng Zhiyuan, and Shenzhen Yongchang Xuan, they are considered a group of controlling shareholders with approximately 75.37% of the voting rights at shareholders' meetings. Intermediary Team Sole Sponsor: CMBC CAPITAL Limited; Legal Advisor: Zhou Junxuan Law Firm in collaboration with Beijing Tongshang Law Firm, Beijing Tongshang Law Firm; Legal Advisor to the Sole Sponsor: Jingtian and Gongcheng Law Firm Limited Liability Partnership, Zhong Lun Law Firm; Auditors and Reporting Accountants: Ernst and Young Certified Public Accountants; Industry Consultant: Zhi Shi Industry Consulting Limited.