GEM subsidiary seeks capital increase, ownership restructuring

PT Indonesia Qingmei Energy Materials, a GEM subsidiary, intends to introduce overseas strategic investors through capital increase and share restructuring. The move aims to fund its 50,000-ton high-nickel ternary precursor material capacity and optimize capital structure.

Upon completion, the subsidiary will no longer be consolidated into GEM's financial statements. As of March 31, 2025, total assets were 3.23 billion yuan with net assets of 720 million yuan.