In order to promote the development of the global green supply chain, meet the global carbon proportion requirements for the use of new energy materials and achieve the new energy industry from "green" to "green", on November 29, 2023, GEM and Guangzhou Automobile Group Co., Ltd. (hereinafter referred to as “GAC Group”) signed the "Strategic Cooperation Agreement between GAC Group and GEM to Jointly Build a New Energy Full Life Cycle Value Chain" at the GAC Automobile Center. Mr. Zeng Qinghong, Chairman of GAC Group, Zheng Heng, Deputy General Manager of GAC Group, Professor Xu Kaihua, Board Chairman of GEM, and Ms. Wang Min, Co-founder and Board Director of GEM, attended and witnessed this profound moment.

Before the signing ceremony, Chairman Xu Kaihua and his entourage visited the GAC AION factory to learn about the battery technology, intelligent network technology, and intelligent production mode of the intelligent green factory. They also visited the GAC Pavilion at the GAC Center to learn more about the development history of GAC Group and the main blueprint for building a trillion-dollar enterprise group.

After the visit, there was a discussion and brainstorming session by both parties. Chairman Zeng Qinghong first gave his warm welcome to Chairman Xu Kaihua and his entourage, and then, sharing what he witnessed and thought when he visited QMB Park of GEM. He emphasized that under the personal leadership of Chairman Xu Kaihua, GEM has successfully built an advanced high-tech industrial park in Indonesia using own technology. He added that new energy vehicles have become the main development direction of the automotive industry in the future and GAC Group has accelerated its new energy transformation in recent years to strengthen the integration of upstream and downstream industrial chains of new energy vehicles. The market opportunity of the new energy industry is enormous, and the prospect of cooperation between the two sides is vivid. We hope that both sides will realize complementary advantages, take this cooperation as an opportunity to jointly develop more cooperation space in the future, strengthen cooperation and achieve a win-win situation!

Chairman Xu Kaihua expressed his gratitude to GAC Group and Chairman Zeng Qinghong for choosing to cooperate with GEM. On July 22, 2013, President Xi Jinping paid a visit to GEM, leaving behind the praise of "Turn rubbish into resources, transform waste into wealth". In April 2023, President Xi Jinping entered GAC Group and gave a mandate for the high-quality development of China's automobile industry. Both parties bear the mandate of President Xi Jinping, which unites the two to realize China's new energy from recycling to green, that is, "green" to "green". GAC Group is the pioneer in China's new energy vehicle industry, leading the trend of the times and at the forefront of new energy. GEM will be anchored to the future development trend of the new energy raw material industry from raw mining to urban mine recycling, will do a good job in the value chain business of the entire life cycle of power batteries, actively integrate into the "circle of friends" of GAC Group, work together to find the future of recycling and green, and jointly overcome the uncertain situation of the global new energy industry. "Join the GAC Group's 'circle of friends', enter the GAC Group's industrial chain, and move forward hand in hand!" concluded Chairman Xu Kaihua.

Furthermore, Zheng Heng, Deputy General Manager of GAC Group, and Dr. Zhang Yuping, Deputy General Manager of GEM and Chairman of Wuhan Power Battery Recycling Technology Co., Ltd., signed the agreement on behalf of both parties.

According to the content of the agreement, the two parties will jointly establish a global new energy full life cycle value chain, realize the full life cycle value chain system of green recycling, resource and remanufacturing of scrapped new energy vehicles, used power batteries and their wastes, and create a full life cycle value chain of "New Energy Vehicle Recycling - Power Battery Recycling - Nickel-Cobalt-Lithium Battery Raw Material Remanufacturing - Battery Material Remanufacturing - Power Battery Remanufacturing", explore the exemplary mode of full life cycle development of the global new energy industry, and practice the global battery passport. Working together to build a globally competitive green supply chain and value chain, to achieve synergistic development of economic and environmental benefits. This will enhance the core competitiveness and sustainable profitability of both parties in their respective fields.

Li Yong, General Manager of GAC Trading, Wang Ke, General Manager of Youpai Energy, Pan Hua, Deputy General Manager and Secretary of the Board of Directors of GEM, Li Jinping and Dr. Du Ke, Both Assistant General Manager of GEM, participated in the signing ceremony.

The guests present took a group photo

Prof. Xu Kaihua, Board Chairman of GEM, and his entourage visited the GAC AION Intelligent Factory

Prof. Xu Kaihua, Board Chairman of GEM, visited GAC Pavilion at GAC Center

GEM and GAC Group held a symposium

Zeng Qinghong, Chairman of GAC Group, delivered a speech

Prof. Xu Kaihua, Chairman of GEM, delivered a speech

GEM and GAC Group signed the strategic cooperation agreement