New Energy Materials Business

Business Introduction

Since 2004, GEM started to do subtraction to recover cobalt-nickel-manganese; in 2012, it reversed to do addition, adding Co, Ni, Mn/Al, and started to develop new energy materials. After more than a decade of development, GEM has now become a global head enterprise of ternary precursors and tri-cobalt tetraoxide, and new energy materials business have overtaken waste recycling business to become GEM's main business.

The company has overcome the high-efficiency and green whole-process resource recycling technology of low-grade and difficult-to-treat cobalt and nickel metal wastes, developed the preparation technology of high-performance ternary material precursors such as ultra-high nickel, cobalt-free, quaternary, single crystal and core shell, and built the world's most complete lithium-ion battery raw materials and materials manufacturing system, becoming the core supply chain enterprise of the world's leading power battery enterprises.

Life Cycle Value Chain of New Energy

From 2016 to 2021, the company produced a total of nearly 280,000 tons of ternary precursors, with an average of 100 kg per vehicle, the company has assembled nearly 2.8 million ternary battery new energy vehicles, accounting for 15% of the global ternary battery new energy vehicles in the same period, ranking second in the world. In recent years, the company has successfully joined hands with more than 500 car manufacturers and battery factories in the world, such as Samsung, Rongbaek, Yiwei Li-energy, Jiewei, Fu-energy, Toyota, Volkswagen and BAIC, to build a national recycling network system of "ditch, river and sea", and built three green dismantling lines for waste power battery packs in Wuhan, Jingmen and Wuxi, with an annual capacity of processing 250,000 sets of waste power battery packs, realizing the green mode of the whole life cycle of the new energy vehicle industry chain from "green to green".

Business Highlights and Advantages, Industry Status and Influence, Future Development Trends

Four Core Competencies to Help the Development of New Energy Industry


1.1、Precursor Materials Formed "Jingmen + Fuan + Taixing" Tripod New Manufacturing Model

The company's precursor business has a lofty global position, with the first global sales volume from 2017-2019, occupying more than 15% of the global market; the third global sales volume in 2020, affected by the Hubei epidemic; and the second global sales volume of 90,000 tons in 2021.

In recent years, the company accelerated the construction of Fuan Park, 50,000 tons of precursor production line as scheduled; Taixing Park 30,000 tons of precursor production line completed production, opening up the group's third precursor production base; precursor business main park - Jingmen Park continue to sprint, expanding to 150,000 tons of production capacity; so far, the precursor business segment of the new tripod manufacturing model from the blueprint into reality, capacity doubled, exceeding 230,000 tons, again achieved the new speed of the development of GEM new energy industry!

precursor production line

1.2、Successful Upgradation of Triple Cobalt Tetraoxide and Sharp Performance

Cobalt tetraoxide occupies more than 30% of the world market, and one out of every three cell phones in the world is loaded with GEM’s materials.

The Company implemented the expansion, transformation and upgradation of the production line of cobalt tetraoxide, and the cobalt tetraoxide business once again became the dominant of the performance. Taixing Park enlarged and strengthened the cobalt industry chain, adding 5,000 tons of capacity in 2021 and solidifying the Group's 25,000 tons of cobalt tetraoxide production capacity. The multi-point breakthrough of aluminum-doped cobalt tetraoxide products ensures the smooth implementation of the Group's strategy of upgrading cobalt tetraoxide.

Cobalt Tetraoxide Production Line

1.3、Ternary Cathode Materials Regain Importance, "Digital" and "Directional Cycle" Dual Track

Ternary cathode materials are the strategic pivot point of the company's new energy materials business. In 2021, GEM completed and put into operation the new production lines of Wuxi and Jingmen ternary cathode materials, adding 10,000 tons per year of high nickel cathode material production capacity and reaching 25,000 tons of production capacity, and the intelligent manufacturing level will be among the first-class in the industry.

The magnetic foreign matter level of NCM and high nickel NCA materials are both stabilized below 10ppb, and the quality of products is greatly improved. The "digital" plus "directional cycle" has broken the bottleneck of the company's cathode material business, and the cathode material business regained importance.

Ternary Cathode Material Production Line

1.4、Comprehensive layout of lithium iron phosphate cathode materials business field

Accelerate the construction of 100,000 tons of iron phosphate and lithium iron phosphate production line in Fuan Park, and start planning for 50,000 tons of lithium iron phosphate production line in Xiantao Park in Hubei Province, and carry out comprehensive cooperation with Xinyangfeng, dedicated to building a globally competitive new phosphorus chemical new energy material whole industry chain.

Signing Ceremony of GEM and Xinyangfeng New Phosphorus Chemical New Energy Material Whole Industry Chain

1.5、Power Battery Recycling Achieves Full Profitability, Advanced Technology Exported Overseas

The company's power battery recycling business revenue has doubled and the gradient utilization business has gained historic profitability, achieving full profitability of the power battery recycling business. In 2021, the company has accumulated 1.06GWh of recycled power batteries, an increase of 89.29% year-on-year, and has taken the lead in the industry to overcome the system integration solution of gradient utilization of lithium batteries in aerial work platforms, perfectly solving the technical problem of using lithium-ion battery and lead-acid battery compatible interchangeable under the small modification of structure and electrical system of aerial working platform, and promoting the application and development of lithium battery in the field of aerial working platform.

In 2021, four batches of personnel were organized to go to Korea to complete the construction and commissioning of the ECOPRO CNG power battery recycling line, a joint venture between GEM and ECOPRO, to export the company's advanced technology and help the realization the Belt and Road.

ECOPRO Power Battery Recycling Line in Korea

"During the 14th Five-Year Plan period, the company will strengthen its position as a world leader in the fields of ternary precursor, cobalt tetroxide and power battery recycling, provide key materials and power battery recycling services for the commercialization of global new energy, and promote new energy vehicles from "green to green".

New Energy Materials' business development goals for 2026:

Ternary precursor production capacity could reach 500,000 tons, and plans to cooperate with global upstream and downstream to build precursor material production bases in Indonesia and Europe;
Cobalt trioxide production capacity could reach 35,000 tons;
Power battery recycling scale could reach 300,000 tons, and plans to cooperate with global upstream and downstream to build power battery recycling bases in Indonesia and Europe;
Lithium iron phosphate materials could reach Lithium iron phosphate materials reached more than 200,000 tons more than 200,000 tons;
The output of nickel resources in Indonesia could reach 80,000 tons of nickel metal and 6,000 tons of cobalt metal, and the benefits could be fully released, and the construction of the industrial chain from nickel resources to ternary materials in Indonesia can be actively promoted。
Nickel resources recovery of more than 50,000 tons;
Cobalt resources recovery of more than 8,000 tons;
Lithium carbonate resources recovery of more than 20,000 tons;
Manganese resources recovery of more than 40,000 tons;
Nickel, cobalt and manganese wet chemical capacity of more than 300,000 tons (including nickel metal wet chemical system capacity of more than 200,000 tons of metal).

Capacity Layout and Development History

In 2012, GEM acquired 51% of Jiangsu Kelik Cobalt Co., Ltd, marking the official opening of its new energy materials business. In 2015, GEM acquired Qingmei Tongda Lithium (Wuxi) Co. Jointly held by Jiangsu Kelik and Japan AGC, and officially entered the power battery industry, gradually forming a new energy business system with ternary precursors, tri-cobalt tetraoxide and cathode materials as the core. In 2018, the company made a strategic deployment to extend its industrial chain upward, and invested in a nickel metal project with an annual production capacity of 50,000 tons in Indonesia to ensure the supply of raw materials for the new energy business. In 2021, GEM completed four intelligent manufacturing bases for lithium-ion battery materials in Jingmen, Taixing, Fuan and Wuxi, achieving an industrial scale of 230,000 tons of ternary precursors and 25,000 tons of 3C tri-cobalt tetraoxide materials, and supplying products to Ningde Times, LG Chem, BYD and other globally renowned companies.

Development History of GEM’s New Energy Materials

GEM New Energy Materials has built four core parks: Jingmen Park, Fu'an Park, Taixing Park and Wuxi Park, with products covering ternary precursors, tri-cobalt tetraoxide, ternary cathode materials and lithium cobaltate. As for ternary precursors, the company has planned a manufacturing base pattern of "Jingmen + Taixing + Fu'an", with a production capacity of over 230,000 tons per year. The cobalt tetraoxide business is concentrated in Jingmen and Taixing Park, with a combined capacity of more than 25,000 tons per year. The cathode material business is located in Wuxi Park and Hubei New Energy Park, with a total capacity of about 25,000 tons per year. Lithium cobaltate business is concentrated in Taixing and Wuxi Park, with a total capacity of 10,000 tons per year.

In addition, the company has built a green production line of 100,000 tons of nickel metal and 40,000 tons of cobalt metal. The company takes the lead in cooperating with Qingshan to enter the nickel resource base in Indonesia, locking 500,000 tons of nickel resources and building a 50,000 tons per year nickel metal laterite nickel ore wet smelting base project to enjoy the dividends brought the first batch of nickel.

GEM New Energy Materials Industry Layout and Scale

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