The widespread use of electric vehicles can reduce China's fuel demand, reduce carbon dioxide emissions, and promote China's investment in clean energy such as photovoltaic, wind power and hydropower. This is of great significance to China's energy security, the realization of the goal of "double carbon", economic development and industrial upgrading. However, the extensive use of electric vehicles will lead to the scrapping of a large number of power batteries. If these batteries can be properly handled, they can not only solve the problem of environmental pollution, but also recycle resources and realize scientific and circular development. Today, I will focus on Meg, a leading enterprise in the field of waste battery recycling in China.
I. Introduction of Meg's main business
1. Waste battery recycling business. With the rapid commercialization of new energy in the world, the power battery recycling industry will become the next outlet industry.
2. Power battery material manufacturing business. The company has achieved good results in the shipment of ternary precursors exceeding 42,000 tons and cobalt tetroxide nearly 8,500 tons, both of which rank among the top three in the global market.
3. Cobalt and tungsten recovery and cemented carbide manufacturing business. The company uses high-tech cobalt-tungsten products recovered from waste cobalt-tungsten resources and waste cemented carbide to build a cobalt-tungsten resource city mine system, and the recovered ultrafine cobalt powder has become a recognized high-quality product in the global cemented carbide industry. The company's ultra-fine cobalt powder has a market share of 40% in the international and 50% in the domestic market, ranking among the top in the same industry in the world.
4. Electronic waste recycling business. As a dominant enterprise in the comprehensive utilization of electronic waste and a supporting unit of the National Electronic Waste Resource Engineering Technology Research Center, Meg has established its leading position in the electronic waste industry. On July 23rd, 20021year, Jiangxi Green Recycling Industry Co., Ltd., a subsidiary of the company, applied for initial public offering and listing on GEM, which was accepted by Shenzhen Stock Exchange. The spin-off and listing of electronic waste with green recycling as the main body is an important strategy for Green Beauty to realize value promotion and business upgrade, which marks the successful implementation of the dual-track driving strategy of "urban mines+new energy materials". The total disassembly volume of green cycle is nearly 4 million units/set, which remains stable.
5. Scrap car recycling business. The dynamic scrapped automobile base in Meg (Shenzhen) Shenshan Circular Economy Park has obtained the qualification for recycling and dismantling scrapped motor vehicles, and designed to recycle and dismantle 654.38+million motor vehicles, which has entered the trial operation stage and will be put into production soon.
6. Environmental governance business. The company has three solid waste disposal centers and two sewage treatment plants, initially forming a whole industrial chain from resource recovery, hazardous waste harmlessness to final disposal, with 35 types of hazardous waste disposal capacity, forming a complete treatment process of comprehensive utilization, harmless treatment and safe landfill.
Two. Introduction of operating income of gem
In terms of composition, Grammy's operating income is divided into two parts: new energy battery materials and comprehensive utilization of waste resources, accounting for 49. 17% and 50.83% respectively.
New energy battery materials are mainly the manufacture and sales of ternary precursors and cobaltosic oxide; The comprehensive utilization of waste resources mainly includes the recycling of waste batteries, scrapped cars, cobalt and tungsten, cemented carbide manufacturing and electronic waste.
Third, the growth enterprise market performance outlook
As far as its new energy vehicle materials business is concerned, the sales of new energy vehicles are increasing year by year, and the shipments of power batteries are also increasing exponentially, so the shipments of ternary precursors and cobaltosic oxide materials related to power batteries will also increase substantially. Therefore, it is not a problem for the new energy battery material business to achieve steady and rapid profit growth.
Meg's performance explosion will definitely be in the comprehensive utilization of abandoned resources. China is a big developing country. In the process of developing into a developed country, more and more attention will definitely be paid to the recycling of resources. Green beauty's resource recovery business includes not only power battery recovery, but also urban mining business (promoting the transformation of resource model from over-reliance on natural resources to large-scale utilization and recovery of resources). If power battery recycling is a "100 billion outlet", then Grammy's resource recycling business is facing a "trillion market" opportunity. Under the goal of "double carbon", not only technological innovation, energy saving and emission reduction are required in the production process, but more importantly, resources are recycled to reduce unnecessary production. If the subsidies in the field of new energy vehicles in China are concentrated on the whole vehicle at present, the policy support and financial subsidies in this field will tilt to the field of power battery recycling in the next five years. If the whole vehicle manufacturing of new energy vehicles can reward carbon, then the recycling of power batteries can also reward carbon.
As far as the national industrial policy and development direction are concerned, Meg's main business is a sunrise industry supported by the state; As far as industrial technology is concerned, there is no foreign "bottleneck", and there is a generation gap between domestic technology and international advanced technology; As far as the market is concerned, the GEM gives priority to its layout and its scale advantage is fully demonstrated. Therefore, from a macro perspective, we are optimistic about the GEM for a long time.
Four. Risk analysis of GEM investment
Grammy's investment risks are all short-term risks. At present, Meg's biggest problem is that there are too many retail investors, the concentration of chips is not enough, and institutions are unwilling to pull. If you buy short-term now, it may be sideways, or even a slight decline. Therefore, my operation strategy is to enter the market in batches, open positions in small positions, hold them for a long time, and wait for the formation of the concept of tuyere. When the funds in the market pay a lot of attention to the concept of "resource recovery", it is the day when the share price of GEM rises tenfold.