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GEM China increases investment of RMB 900m to its Jinmen subsidiary to support developments for recycling economy and alternative energy materials

Biwen Wang From 盖世汽车| August 04 , 2017

GEM China ,Jinmen GEM,renewable resources

GEM China released announcement on the night of August 2nd that the company planned to increase an investment of RMB 900m to its Jinmen subsidiary to further develop its businesses. Jinmen GEM will have a registered capital of RMB 4.46b after the investment.

GEM China was established in Shenzhen on December 28th, 2001, and it was listed into the stock market in January, 2010. It is the first stock in renewable resources industry and electronical waste recycling industry, with total 2.94b shares and net capital of RMB 7b.

The company released a plan for non-public stock offering of funds no exceeding RMB 2.951b on May 6th, for developing green-recycling auto power batteries project, precursor material for recycling power ternary materials project and ternary materials for recycling power batteries. The project will help the company to fully use its own technological and resource advantages and consolidate its industrial chain layouts.

Public data shows that Jinmen GEM mainly operates in the recovery, inventory and comprehensive recycling of renewable resources. It has operating revenue of RMB 5.026b and 1.333b in the year 2016 and the previous three months in 2017 respectively, with the net profits of RMB 263m and 134m.

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