Warmly congratulate the successful signing ceremony of spin-off listing of GEM e-waste business

On the afternoon of October 20, 2020, the signing ceremony of spin-off listing of GEM e-waste business was held in GEM Jiangxi Industrial Park. The signing ceremony was attended by more than 200 people, including Yu Xiuming, the Party Secretary of Yichun City, Cai Qingping, the Executive Member of CPC Yichun Municipal Committee and Executive Vice Mayor of Yichun Municipal Government, Wu Yiqun, Chief of Staff of CPC Yichun Municipal Committee, Li Xiaochu, Party Secretary of Fengcheng City, and Xu Jieqiang, Deputy Party Secretary of Fengcheng City and Mayor of Fengcheng Municipal Government, over ten strategic investors such as Fengcheng Development Investment Group and more than 20 strategic clients along the industrial chain, including Kingfa Sci.&Tech. Co., Ltd., Nanjing Julong Science & Technology Co., Ltd., Guangdong Silver Age Sci & Tech Co., Ltd., Orinko Advanced Plastics Co., Ltd., and Shanghai RE-MALL, etc.

On August 25, GEM released the Announcement on Authorizing the Company’s Management to Start the Preparatory Work for the Subsidiary Spin-off Listing in China, which officially kicked off the preparatory work for spin-off listing in China of the e-waste business of GEM Co., Ltd. Taking GEM Industrial Park in Jiangxi as the main body, GEM spin-off listed the e-waste business and assets of its six industrial parks in Jiangxi, Hubei, Henan, Shanxi and Inner Mongolia, thus establishing the capital channel of independent development, rapidly expanding the urban mining industry dominated by e-waste business, and building a world-class group specialized in waste recycling industry.

The spin-off listing of e-waste business has received great recognition from the investment platform of Fengcheng Municipal Government and the capital market. More than ten strategic investors, which believed in the positive prospect of the GEM e-waste business, competed for purchasing the expanded shares of the company. This fully reveals that GEM’s spin-off listing of e-waste business is in line with the expectations of investors for the development of green industry.

At the signing ceremony, GEM Chairman Prof. Xu Kaihua used ten Chinese characters meaning “original aspiration”, “Feng Shui”, “foundation”, “prospect” and “value” to describe, in front of the government officials and guests at the signing ceremony, the grand blueprint of GEM to “create a world-class base of cycle economy and green industry with the help of capital market”. Chairman Xu Kaihua pointed out that green development is the original aspiration of GEM.  Fengcheng in Yichun is a city embracing cycle economy. With successful business in Fengcheng, it enjoys the superior business environment in the city. GEM has broken through the key technologies along the whole industrial chain, including green disassembly of e-waste, deep resource treatment, pollution control, recycling of waste plastic and rare precious metals, thus gaining the foundation of core competitiveness. With the strong support of CPC committees and governments of Yichun and Fengcheng, and the strong support of other strategic investors, GEM has the foundation of government platform and capital market. E-waste business, with the market worth 100 billion RMB, is the wonderful business favorable for the mankind featuring broad prospect and pollution control. On the one hand, GEM will continue to improve the company’s values and secure returns to investors; on the other hand, it will create 10 billion RMB industrial value of cycle economy for Fengcheng in Yichun.

Representatives of strategic investors said they would firmly invest in GEM and share the future with GEM. At the same time, they will remember the words of CPC General Secretary, taking their responsibilities and contributing to green development in China.

In his speech, Party Secretary Li Xiaochu of Fengcheng City stressed that CPC Fengcheng Municipal Committee and Fengcheng Municipal Government will fully support the spin-off listing of GEM while providing service to GEM to build the world-class cycle economy industry. Fengcheng city will pay greater attention to the construction of infrastructures in the industrial park, to building business environment and project services, so that more good enterprises and projects like GEM can have the sense of belonging of value, emotion and development in Fengcheng.

At the signing ceremony, GEM and Fengcheng Municipal Government signed the agreement of strategic cooperation, and signed with the strategic investors the agreement of strategic investment in GEM e-waste business spin-off listing.

The signing ceremony was also attended by GEM Director Ms. Wang Min, Director Chen Xingti, Director Tang Xinbing, Independent Director Wu Shujie and Chairman Zhou Bo of the Board of Supervisors.

Picture 1. Party Secretary Yu Xiuming and his colleagues were visiting GEM Jiangxi Industrial Park Museum

Picture 2. Signing Ceremony