Automotive Author：Wenqing Zou Editor：Ziying Wu Nov 03, 2022 05:03 PM (GMT+8)

Recently, lithium-ion battery recycling solution supplier JinSheng closed its B+ round financing worth hundreds of millions of CNY, which was expected to be used for corporate governance improvement, capacity expansion and talent development.

battery recycle

On November 2, lithium-ion battery recycling solution provider JinSheng New Energy Co. Ltd. (hereinafter referred to as 'JinSheng') (Chinese: 金晟新能) announced the completion of its B+ round of financing amounting to hundreds of millions of CNY, which was co-led by (Chinese: 达晨资本) and (Chinese: 基石资本), followed by Bosch (Chinese: 博世), Shaanxi Automobile Group (Chinese: 陕汽), Guodiao Zhanxin Investment Management (Chinese: 国调战新), Guangdong Industrial Development Fund (Chinese: 广东省产业发展基金), China SME Development Fund (Chinese: 国家中小企业发展基金) and Bosera Asset Management (Chinese: 博时基金). The fund is expected to be used for corporate governance improvement, capacity expansion and talent development. After this financing round, JinSheng has gathered battery manufacturers, automakers and 4S dealerships as its shareholders.

JinSheng, founded in 2010 and based in Guangdong, is a power battery recycling solution provider focusing on the comprehensive recycling and re-utilization of lithium-ion batteries. Moreover, in November 2021, the Ministry of Industry and Information Technology included the company in the third batch allowlist, namely Standard Conditions for Integrated Utilization of Waste Power Batteries in New Energy Vehicles. The company's main products are battery-grade cobalt sulfate, nickel sulfate, manganese sulfate, lithium carbonate and other lithium battery materials, which are supplied to battery manufacturers worldwide.

In the future, the company will continue to persist in innovation and increase investment in product R&D, contributing to the achievement of "carbon peak and carbon neutrality."