GEM Co., Ltd. (002340.SZ) plans to cooperate with South Korean ECOPRO in Indonesia to build a strategic cooperation framework for the "nickel resources-predecessor-cathode material" full industry chain.

GEM Co., Ltd. (002340.SZ) announced that the company has maintained a close cooperation relationship with the leading global manufacturer of high-nickel ternary cathode materials for new energy power batteries, ECOPROCO., LTD. (hereinafter referred to as "ECOPRO"), over the past ten years, greatly promoting mutual development and establishing a solid and lasting friendship. In response to the critical moment of global competition, the two sides have decided to comprehensively and efficiently integrate their advantages in nickel resource hydrometallurgy (HPAL), high-nickel precursor manufacturing, and high-nickel ternary cathode material manufacturing, forming an inseparable cooperation alliance of resources, technology, production capacity, capital, and market, and building a globally leading competitive industrial chain strategic alliance. Recently, the actual controllers of the company and ECOPRO, under the theme of "Ten Years of Friendship, Hundred Years of Cooperation - Building a Global Leading Strategic Alliance", have started strategic discussions on establishing a "nickel resource - precursor - cathode material" complete industry chain in Indonesia, targeting both the European and American markets and emerging markets in Asia. They have agreed to jointly create a manufacturing system covering the entire industry chain from nickel resource hydrometallurgy (HPAL) to precursors and cathode materials, enhancing the competitiveness of the cooperation industry chain globally, effectively addressing various challenges of global industry competition, and promoting strong momentum for performance growth in the global neoteric competition, ensuring the core interests of both parties in the global market. Both sides have agreed to establish a special team to study the implementation plan of the strategic cooperation and sign relevant agreements to ensure the landing of the strategic cooperation within the year.