April 2, 2025 — Hubei Yangtze Rikomay Resource Recycling Co., Ltd. (hereinafter referred to as "Yangtze Rikomay") was officially established with a total registered capital of ¥80 million. The company is headquartered in the Xialu District High-End Equipment Manufacturing Industrial Park of Huangshi City, Hubei Province. Phase I of the project involves an annual processing capacity of 20,000 tons of waste power batteries, with a total investment exceeding ¥200 million, establishing a complete industrial chain covering recycling, disassembly, and regeneration of waste power batteries.

The National Green Development Fund’s strategic investment in Yangtze Rikomay positions it as a full-chain power battery recycling base in Central China. This initiative strengthens the regional industrial ecosystem in Hubei Province, particularly in new energy material recycling, and drives the transformation of traditional solid waste disposal industries toward green circular "new quality productive forces" through "enterprise-level circular models spurring industry-wide upgrades".

This investment marks Rikomay’s short-process full-dry recycling technology entering large-scale commercialization. It also signifies the first deep involvement of national-level capital in the power battery circular economy sector, transcending the scope of a single project. As a pivotal node in the Yangtze River Economic Belt’s green transition, the collaboration adopts a "national capital + local state-owned enterprises + technology provider" synergy model. This not only establishes a technical benchmark for lifecycle green management of power batteries in Central China but also validates a sustainable pathway of "green technology → industrial upgrading → capital appreciation" through market-driven mechanisms. By leveraging policy guidance, technological innovation, and market operations, the partnership exemplifies the National Green Development Fund’s pivotal role in advancing green technology revolutions and contributes a China-centric solution to global power battery circular economy challenges.

Equity Structure of Yangtze Rikomay
The equity structure is illustrated in the figure below.

About the National Green Development Fund
Established on July 15, 2020, in Shanghai, the National Green Development Fund Co., Ltd. is a national-level investment vehicle jointly initiated by the Ministry of Finance, the Ministry of Ecology and Environment, and the Shanghai Municipal Government. Guided by Xi Jinping’s ecological civilization philosophy and the vision of building a "Beautiful China," the fund directs social capital toward high-externality green development areas, including pollution control, ecological restoration, green transportation, and clean energy, to promote high-quality green industries and economic growth.