GEM's subsidiary plans to sell 100% equity of Green Recycling Materials to focus on critical metal resource recovery business
GEM's subsidiary Jiangxi Green Recycling Industry Co., Ltd. signed an agreement with Henan Recycling Technology Industry Group to sell 100% equity of its wholly-owned subsidiary Jiangxi Green Recycling Materials Co., Ltd. The transaction amount is 280 million yuan, and the debt transfer price is 682 million yuan. After this equity transfer, GEM will focus on the recovery of key metal resources, enhance its technological advantages, and the funds obtained will be used for daily operations
According to the announcement from Zhitong Finance APP, GEM (002340.SZ) stated that its holding subsidiary, Jiangxi GEM Circular Industry Co., Ltd. (referred to as "GEM Circular"), has signed an "Acquisition Agreement for 100% Equity of Jiangxi GEM Circular Materials Co., Ltd." with Henan Circular Technology Industry Group Co., Ltd. (referred to as "Henan Circular Group"). GEM Circular will transfer 100% equity of its wholly-owned subsidiary, Jiangxi GEM Circular Materials Co., Ltd. (referred to as "GEM Circular Materials"), which is engaged in electronic waste recycling and plastic regeneration business, to Henan Circular Group. The equity transfer amount is 280 million yuan, and the debt transfer amount is 682 million yuan. After the completion of this equity transfer, the company will no longer hold equity in GEM Circular Materials and will actively develop the key metal resource recycling business to address critical issues that have not been well resolved in the resource regeneration and recycling industry, enhancing the company's technological advantages in key metal resource recycling. The funds obtained from this transaction will be used for the company's daily operations
