Jinjing Xinneng (01783) continued its monthly gains, rising more than 7% in early trading, reaching a record high of HK$2.69. As of press release, it rose 6.4% to HK$2.66, with a turnover of HK$2.279,500.
The Zhitong Finance App learned that Jin Jing Xinneng (01783) continued its monthly gains, rising more than 7% in early trading, reaching a record high of HK$2.69. As of press release, it rose 6.4% to HK$2.66, with a turnover of HK$2.279,500.
According to the news, on February 19, Jin Jing Xinneng issued an announcement stating that it signed a memorandum of understanding with Hefei Guoxuan Hi-Tech Power Energy Co., Ltd., a wholly-owned subsidiary of Guoxuan Hi-Tech, to jointly develop and promote power battery recycling business on a global scale. According to the cooperation framework, the two sides will establish joint research institutes in the US, Europe and Southeast Asia to focus on battery recycling policies; and jointly invest, establish and operate battery recycling businesses in Germany and the US. At the same time, there is a possibility of further cooperation between the two sides in the capital market in the future.
Industry insiders expect that Jin Jing Xinneng, as a new player in the power battery recycling market, if it wants to quickly establish channels in overseas markets, then it may seek cooperation with established local resource and energy recycling companies to quickly establish new channels with partner licenses and outlets to accelerate the localization of its own business, which is conducive to the rapid expansion of its overseas markets. If Jinjing Xinneng uses this strategy to build channels, then it will begin to set up channels after reaching an agreement with Guoxuan Hi-Tech. This means that the day until Jinjing Xinneng announces its cooperation with local companies may be imminent.