China Carbon Neutral Development Group Limited (C CARBONNEUTRAL, 01372 HK) announced that wholly-owned unit Xunli Technology (Shenzhen) Co., Ltd. has entered into a strategic cooperation agreement with Hubei Liming Lithium Service Technology Co., Ltd. in March 2026. The partnership seeks to accelerate lithium-battery recycling, deepen supply-chain integration and cultivate new-energy applications across domestic and overseas markets.
The agreement establishes a joint working mechanism covering five core areas: 1) Recycling network integration, with Hubei Liming Lithium’s offline collection resources to be embedded in Xunli Technology’s “Xunli” digital platform and the potential co-development of standardized take-back outlets. 2) Co-development and promotion of small power battery PACK products for two-wheeled vehicles and cleaning equipment by pooling both parties’ cell supply, design, manufacturing and sales channels. 3) Tailored supply-chain financing, including equipment leasing, receivables factoring and inventory financing, to be arranged by Xunli Technology in collaboration with financial institutions for Hubei Liming Lithium and its partners. 4) Joint exploration of integrated “photovoltaic–energy storage–charging–swapping” power stations and battery-swapping services, leveraging the Group’s “Dongfang Yidian” platform and piloting vehicle–battery separation and leasing models in public transport and logistics scenarios. 5) Coordinated overseas expansion, combining Xunli Technology’s market analysis and compliance expertise with Hubei Liming Lithium’s export of recycled materials and second-hand products, and planning a shared global recycling network.
Management highlighted multiple synergies: the combination of Xunli’s digital platform with Hubei Liming Lithium’s processing capabilities is expected to create a closed-loop “recycling-application” value chain, enhance operational efficiency across recycling, PACK production, financing and energy-storage deployment, and bolster the Group’s competitive position in the carbon-neutrality industrial chain.
Founded in 2014 and based in Tianmen, Hubei, Hubei Liming Lithium is a high-tech enterprise specializing in end-of-life new-energy vehicle disassembly and lithium-battery recycling. For 2026 it targets processing 20,000 tons of waste batteries, generating annual output value above RMB 0.40 billion, and achieving recovery rates exceeding 95% for nickel, cobalt, manganese and lithium.
The Board of C CARBONNEUTRAL views the cooperation as a catalyst for sustainable business growth, projecting enhanced returns and a stronger foundation for future expansion in battery recycling, comprehensive utilization and energy-storage services.