New stock news | GEM Co., Ltd. (002340.SZ) plans to list in Hong Kong, it is reported that the entry work for the Hong Kong stock issuance is expected to start in April.

On January 20th, GEM Co., Ltd. (002340.SZ) announced its intention to issue shares (H shares) overseas and list on the Hong Kong Stock Exchange in China. The company's board of directors has authorized the management to commence the preliminary preparations for the H share listing. According to media reports, the listing plan is mainly targeted at overseas markets, with the issuance expected to begin in April. Information shows that GEM Co., Ltd., established in 2001, is a leading waste recycling industry group and a core supplier in the global new energy industry and a leading enterprise in China's circular economy. The company's main business is in the recycling of waste resources and comprehensive utilization industry and the new energy industry, forming a dual-track business model of "urban mining + new energy material manufacturing". In the field of urban mining, the company recycles waste power batteries, electronic waste, scrapped cars, waste plastics, and nickel-cobalt-lithium-tungsten strategic resources, mainly re-manufacturing nickel-cobalt-lithium-tungsten, gold, silver, platinum, palladium scarce resources, ultra-fine cobalt-nickel-tungsten powders, and modified plastics; in the new energy field, the company manufactures ternary precursors for power batteries, ternary positive electrode materials, and cobalt trioxide materials for 3C digital batteries, making it a leading company in the world's new energy supply chain. The quarterly report for the third quarter of 2024 released by GEM Co., Ltd. shows that in the first three quarters, the company achieved operating income of RMB 24.872 billion, a year-on-year increase of 22.96%. Net profit attributable to the company's shareholders was RMB 9.04 billion, a year-on-year increase of 65.06%. Net profit attributable to the company's shareholders excluding non-recurring gains and losses was RMB 8 billion, a year-on-year increase of 72.55%.