[Citic Securities: lithium Carbonate Price stabilizes Battery Recycling Enterprises will meet Operation inflection Point] Citic Securities Research report pointed out that the price of lithium carbonate fell below 200000 yuan per ton in the first quarter of 2023, resulting in the provision of inventory commodities and the willingness of recycling enterprises to reduce their willingness to purchase waste. Recently, the price of lithium carbonate has stabilized and rebounded, and we expect battery recycling enterprises to usher in an operating inflection point. In 2022, the battery industry maintained relatively rapid growth, with three-way recycling accounting for 60%. The economic benefits of recycling are prominent. on the one hand, relevant enterprises are increasing the scale of production capacity, on the other hand, they are actively establishing cooperative relations with downstream battery factories and vehicle factories. Recommend battery recycling related companies to maintain the "stronger than the market" rating of the new energy vehicle industry.