Jinsheng New Energy Makes Third Attempt at HKEX IPO

[Capital Moves] Jinsheng New Energy, a lithium battery recycling company, has submitted its IPO application to the Hong Kong Stock Exchange for the third time.

Core Development: The World's Second-Largest Lithium Battery Recycler Seeks Listing Again

Jinsheng New Energy resubmitted its application for a main board listing on the Hong Kong Stock Exchange on May 18, 2026, with China International Capital Corporation (CICC) and CMB International acting as joint sponsors. The company previously filed applications in December 2024 and September 2025, both of which lapsed. This marks its third attempt to go public in Hong Kong.

Key Metrics: Ranked Second Globally and First Among Third Parties

According to a Frost & Sullivan report, based on revenue from recycled product sales in 2025, Jinsheng New Energy is the world’s second-largest enterprise in lithium battery recycling and regeneration, and the largest third-party recycler globally.

Strategic Foundation: Proceeds to Focus on Capacity Expansion and Resource Deployment

The proceeds from this IPO will primarily fund the construction of a RMB 1.2 billion lithium iron phosphate (LFP) battery recycling facility in Ganzhou, Jiangxi, expansion of upstream raw material resources, and R&D investments. The company is backed by strategic investors including GAC Group and Bosch, highlighting its strong strategic positioning in the battery recycling sector.