New Stock News | GEM plans to list on the Hong Kong Stock Exchange, and the China Securities Regulatory Commission requires additional information on the company's subsidiaries and branch offices

According to the Zhitong Finance APP, on October 31, the China Securities Regulatory Commission (CSRC) issued the "Supplementary Material Requirements for Overseas Issuance and Listing Filing (October 27, 2025 - October 31, 2025)," and the International Department of the CSRC issued supplementary material requirements for 9 companies. In the announcement, the CSRC requested GEM (002340.SZ) to provide additional explanations regarding whether the company belongs to the "high energy consumption" and "high emission" industries, as well as the status of all its subsidiaries and branches. According to the Hong Kong Stock Exchange's disclosure on September 22, GEM Co., Ltd. (referred to as: GEM) submitted a listing application to the main board of the Hong Kong Stock Exchange, with JP Morgan, CITIC Securities, and CITIC Construction Investment International as its joint sponsors. The China Securities Regulatory Commission requests GEM to supplement the following matters and asks the lawyer to verify and provide clear legal opinions: Please supplement the explanation of whether the company belongs to the "high energy consumption" and "high emission" industries, and verify whether the constructed, under-construction, and planned projects belong to "high energy consumption" and "high emission" projects. Please supplement the explanation: (1) the progress of the company's repurchase and cancellation procedures for 8,750,450 restricted shares; (2) the progress of the company's business registration changes regarding the change in registered capital; (3) the progress of the filing for the recycling business of the subsidiary Hubei Green Tungsten; (4) the progress of the application for changes in the overseas investment filing of the overseas subsidiaries in Indonesia, Qingmeibang and Meiming. Please supplement the situation of all subsidiaries and branches of the company in the legal opinion in accordance with the "Guidelines for the Application of Regulatory Rules - Overseas Issuance and Listing No. 2." Currently, only the main subsidiaries' situations have been verified. Please compare with the provisions of Article 8 of the "Trial Measures for the Administration of Overseas Issuance of Securities and Listing by Domestic Enterprises" and supplement the explanation of whether the company and all domestic subsidiaries have any prohibitive circumstances for overseas issuance and listing. The prospectus shows that GEM is a leader in the recycling production of key metal resources and the lithium-ion battery recycling industry, as well as a leading enterprise in the global new energy materials manufacturing industry. Since its establishment in 2001, the company has formed a comprehensive business operation model around its circular economy, covering three core business areas: key metal resources, lithium-ion batteries, and end-of-life vehicle recycling, as well as the new energy materials sector. In terms of finance, for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, the company achieved revenues of RMB 29.392 billion, RMB 30.529 billion, RMB 33.2 billion, and RMB 17.561 billion, respectively; during the same period, the profits were approximately RMB 1.332 billion, RMB 1.162 billion, RMB 1.328 billion, and RMB 843 million, respectively