Huitongda and Hanxia Recycling established a joint venture to accelerate the development of the power battery industry

On April 25, Huitongda Network Co., Ltd. signed a strategic cooperation agreement with Shanghai Hanxia Recycling Technology Co., Ltd. Feng Xinzhen, Assistant President of Huitongda Network and General Manager of New Energy Mobility Division, Gong Lifeng, President of Shanghai Greatpower Nickel and Cobalt Materials Co., Ltd., Chen Yi, CEO of Hanxia Recycling, and Wang Yong, General Manager of Circular Economy Industry Department of Huitongda New Energy Mobility Division, attended the signing ceremony and jointly discussed and reached the details of the cooperation between the two parties.

The cooperation between the two parties will focus on promoting the recycling and utilization of new energy power batteries, promoting the construction of a battery circular economy system, giving full play to their respective advantages in market, channels, team, technology, production, etc., achieving integration, complementarity, and win-win cooperation, and continuously contributing to the green development of the new energy industry.

It is reported that the joint venture company jointly established by Huitongda and Hanxia Recycling, Zhejiang Xinghanxia Resource Recycling Technology Co., Ltd., has completed industrial and commercial registration. The two parties will integrate each other's advantageous resources, industry experience, etc. to promote the overall improvement of Xinghanxia's business scale and strive to become a benchmark enterprise in the field of new energy power battery recycling.

Huitongda was successfully listed on February 18, 2022, and increased revenue and profits in the first year of listing. It has more than 200,000 member stores and strong digital operation capabilities. It is well aware of the needs of users in the sinking market and can efficiently and accurately link the industrial end and the retail end. In recent years, Huitongda has been steadily carrying out the layout of the new energy ecosystem, creating a new energy sinking business model, and driving the sustainable development of the industry with the "upward extension + downward extension" dual-wheel drive.

Hanxia Recycling is committed to the orderly recycling of lithium batteries throughout their life cycle. It establishes industry standards through online platforms, provides battery testing services through offline service outlets, and realizes battery recycling and recycling through comprehensive recycling bases. It conducts online and offline omni-channel recycling and regeneration of retired batteries. Currently, Hanxia Recycling has two large retired power battery wet process and cascade utilization processing bases across the country, as well as 198 collection outlets covering 19 provinces.

At the symposium, Huitongda and Hanxia Recycling conducted in-depth exchanges on multiple areas including the development and layout of new energy vehicle power battery channel outlets, full life cycle asset operation management, power battery recycling and reuse, and co-construction of a new energy industry ecosystem. The leaders of both sides further deepened their understanding of each other's business model innovation, differentiated capabilities and resource advantages, and reached a consensus on the innovative path of future cooperation models.

To seize the opportunities for green industry development in the context of the sustainable era, Huitongda and Hanxia Recycling will continue to promote innovation in the power battery recycling business model through in-depth research and resource linkage in industry talent reserves, channel outlets, recycling technology, and recycling models.