C CARBONNEUTRAL (01372) has announced that in March 2026, its controlled subsidiary, Xunli Technology (Shenzhen) Co., Ltd., entered into a strategic cooperation agreement with Hubei Liming Lithium Industry Technology Co., Ltd. The partnership will leverage Xunli Technology's online and offline recycling network and operational capabilities, along with its strengths in industrial digitalization and supply chain finance, combined with Hubei Liming Lithium's expertise in lithium battery regeneration and recycling technology. The collaboration aims to jointly promote the recycling of lithium battery resources and advance green, low-carbon development.
Under the agreement, the two companies will establish high-level dialogue and a joint working mechanism, focusing on cooperation in the following areas: - Recycling Network Synergy: Hubei Liming Lithium will integrate its offline recycling resources into Xunli Technology's "Xunli Network" platform, which will provide online display and order dispatch services. Both parties will guide end-of-life batteries to be channeled preferentially through the platform and explore the joint establishment of standardized recycling points. - Small Power Battery PACK Collaboration: By integrating resources in cell supply, design, manufacturing, and market channels, the companies will jointly develop and promote small power battery PACK products for applications such as two-wheelers and cleaning equipment. - Supply Chain Financial Support: Based on platform data and risk control models, Xunli Technology will collaborate with financial institutions to offer customized financial services to Hubei Liming Lithium and its partners, including equipment financing leases, accounts receivable factoring, and inventory financing. - New Energy Scenario Development: The partners will jointly explore integrated "solar-storage-charging-swapping" power stations and battery swap services. Leveraging the group's "Dongfang Yidian" platform, they will pilot "battery-swapping" and battery leasing models in scenarios such as public transport and logistics. - Overseas Market Coordination: The companies will jointly expand overseas business, with Xunli Technology providing market analysis and compliance consulting, and Hubei Liming Lithium supplying recycled materials and cascade utilization products. They will also explore building overseas recycling networks to meet international regulatory requirements.
This cooperation is expected to yield synergistic benefits across multiple dimensions. In terms of resource coordination, the integration of offline recycling networks with online platforms will help form a closed-loop business model from recycling to application. Industrially, the collaboration covers a full-chain layout including recycling, PACK production, financial support, energy storage applications, and overseas markets, which is conducive to improving overall operational efficiency. Technologically and commercially, the two parties will jointly research and develop intelligent disassembly and cascade utilization technologies, while expanding into domestic and international markets to enhance comprehensive competitiveness.
The partnership will serve as a starting point for ongoing cooperation in areas such as energy storage power stations and carbon asset management, with the goal of building a green industry chain covering the entire battery life cycle.
Hubei Liming Lithium, established in 2014 and based in Tianmen, Hubei, is a high-tech enterprise specializing in the recycling and dismantling of new energy vehicles and the regeneration of lithium batteries. The company has built a closed-loop industrial chain from recycling and dismantling to regeneration and manufacturing. In 2026, it is projected to process 20,000 tons of waste batteries annually, with an output value exceeding RMB 400 million and a recovery rate for nickel, cobalt, manganese, and lithium of over 95%. It boasts a professional R&D team, hazardous waste operation qualifications, a nationwide recycling network, and is expanding into cascade utilization scenarios such as communication energy storage and logistics distribution, while actively exploring overseas markets.
C CARBONNEUTNAL is committed to promoting resource recycling and green, low-carbon development through technological innovation. The Board believes that the strategic cooperation between Xunli Technology and Hubei Liming Lithium will further enhance the group's industrial closed-loop in battery recycling, comprehensive utilization, and energy storage, strengthening its comprehensive competitiveness within the carbon neutrality industry chain. The Board is confident that this partnership will bring sustainable business growth and financial returns to the group, laying a solid foundation for further business expansion and reinforcing the overall interests of the group and its shareholders.