The five brothers of the Li family in Guangdong have been in business for 17 years and have caught up with the trend of lithium battery recycling. Their first IPO is under planning.
On December 2, information on the official website of CICC showed that Guangdong Jinsheng New Energy Co., Ltd. (hereinafter referred to as “Jinsheng New Energy”), a lithium battery recycling company, started listing counseling and filing. The counseling period is from November 2022 to 2023. In May, it is expected that Jinsheng New Energy may hit the IPO next year.
Source: CICC official website
According to the listing guidance filing announcement, the largest shareholder of Jinsheng Xinneng is Jiangxi Dongliang Investment, which holds 20.93% of the voting rights of Jinsheng Xinneng. , Li Yan, Li Wang, and Li Yao Holdings.
The entrepreneurial journey of Li Sen and four other brothers started 17 years ago. In 2005, the five Li brothers established Gaoyao Jinye Metal Development Co., Ltd. (deregistered), mainly engaged in non-ferrous metal smelting and rolling processing. It only took five years for the five Li brothers to develop this small company with only 20 to 30 employees into a private first brand in the non-ferrous metal raw material manufacturing industry.
Source: Tianyancha
When their career entered a new stage, the five Lee brothers decided to take it to another level. Around 2010, the five Li brothers founded the predecessor of Jinsheng New Energy “Zhaoqing Jinsheng Metal Industry Co., Ltd.” to expand the scope of non-ferrous metal smelting and processing business and continuously increase production capacity to meet market demand. In 2011, the five Li brothers came to Yichun, Jiangxi, the “Lithium Capital of Asia”, and invested 600 million yuan to explore Yichun’s non-ferrous metal resources.
In 2014, Jinsheng New Energy established a subsidiary Jiangxi Ruida New Energy Technology Co., Ltd. in Wanzai County, Yichun, Jiangxi, to operate lithium battery cathode materials, new energy vehicle waste power battery recycling and cascade utilization business, relying on the non-ferrous metal smelting stage With its technical reserves, Jinsheng New Energy has officially launched its efforts in the field of power battery recycling. In January 2022, the company name was changed from “Zhaoqing Jinsheng Metal Industry Co., Ltd.” to “Guangdong Jinsheng New Energy Co., Ltd.”
The five brothers of the Li family became more and more famous in their joint ventures. Li Sen gradually led everyone to develop into a modern enterprise. With the accelerated penetration of new energy vehicles in recent years, the market space for the recycling of automotive power lithium batteries has gradually been opened up. The lithium battery recycling track is facing the wind, and the battery recycling track is being paid special attention to by the capital market.
On November 2, one month before the launch of listing counseling and filing, Jinsheng New Energy had just completed hundreds of millions of yuan in B+ round financing, and introduced well-known institutional investors such as Dachen Capital, Cornerstone Capital, and Bosch. This round of financing is only 3 months away from the previous round of financing.
It is reported that as of now, Jinsheng New Energy has completed four rounds of financing in total, and introduced well-known companies such as Fuxing Ruizheng, CICC Capital, China National Capital, National Venture Capital, Guodu Zhanxin Fund, GAC Capital, Bosera Fund, and Shaanxi Automobile Group. institutions as shareholders.
Source: Tianyancha
Jinsheng New Energy will complete two rounds of financing successively in 2022, introducing full-chain players in the new energy vehicle industry including vehicle manufacturers, auto parts manufacturers, and automobile wholesale groups, as well as first-line investment institutions in the new energy field. According to related reports, Jinsheng New Energy is currently valued at 12 billion yuan.
In addition, Jinsheng New Energy has been seeking independent listing opportunities before completing the two rounds of financing of the B series. According to the information on Jinsheng New Energy’s official website, Jinsheng New Energy’s recruitment activities in December 2021 will begin to recruit securities affairs representatives. Jinsheng Xinneng recruited certification agents one year before the guidance and filing, and it has been planning for listing for a long time.
It is reported that since the second half of 2022, in addition to Jinsheng New Energy, battery recycling companies such as Shunhua Lithium Industry , Saidemei , Bocui Cycle , Hengchuang Ruineng , Power Regeneration , a wholly-owned subsidiary of GEM, and Jinyuansheng have successively Obtained more than 100 million yuan in financing. In August, Sean Technology ‘s application for listing on the Growth Enterprise Market was accepted.
Jinsheng New Energy is one of the earliest domestic companies capable of producing nickel sulfate at the beginning of its establishment. With continuous investment and business expansion, Jinsheng New Energy has extended its business to the key link of lithium battery cycle. Today, the core business of Jinsheng New Energy is the harmless treatment and resource utilization of decommissioned lithium batteries, including cascade utilization and recycling.
According to the division of Jinsheng new energy products, there are three categories: core products, extended products and other products. The core products are battery grade cobalt sulfate, nickel sulfate, manganese sulfate, lithium carbonate and other battery materials. The extended product is a ternary composite positive electrode material precursor product that uses nickel salt, cobalt salt, and manganese salt as raw materials, and the ratio of nickel, cobalt, and manganese in it is adjusted according to actual needs. The ternary precursor is sintered with battery-grade lithium carbonate. Nickel-cobalt-manganese acid produces a ternary cathode material. Jinsheng New Energy has enriched the products for cascade utilization of decommissioned lithium batteries, and produced low-speed vehicle batteries, solar street light batteries, base station backup power supplies, battery replacement stations, outdoor mobile power supplies and other battery products for different scenarios.
According to the information on the official website, Jinsheng new energy products have covered mainstream manufacturers in the global industry chain such as ternary precursors, cathode materials and lithium batteries, and entered the supply chain system of mainstream new energy car companies such as Tesla and new car manufacturers.
As new energy vehicle power batteries enter the replacement and elimination period, the market begins to face a large number of lithium battery recycling, and the production capacity of waste lithium battery recycling companies begins to be limited. Jinsheng New Energy is also undergoing production line transformation to increase production capacity. In 2022, Jinsheng New Energy will invest 1.19 billion yuan to build new production systems for waste lithium battery cascade utilization, pretreatment, wet comprehensive recovery, precursor preparation, lithium salt and sodium salt, etc. After the project is completed, 80,000 waste lithium batteries will be recycled annually Ton.
The lithium battery recycling industry is booming, and Jinsheng Xinneng is greatly expanding its production capacity. After 17 years of joint venture, can Li Sen lead the Li family brothers to successfully achieve the first IPO?
This article is from the WeChat public account “Direct IPO” (ID: zhitongIPO) , author: Shao Yangang, 36 Krypton is authorized to publish.
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Sohu Sohu Sina 36Kr
related events
- Two consecutive rounds of financing in 3 months, with a valuation of 12 billion, Jinsheng New Energy launched listing counseling2022-12-08
- Lithium battery recycling company Jinsheng New Energy has a valuation of 12 billion yuan and starts the listing process2022-12-07
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