On February 21, 2024, GEM Indonesia Nickel Resources Project 100-Day Pledge-taking Meeting (hereinafter referred to as "Meeting") was held simultaneously at GEM Jingmen Park and PT. QMB Park Indonesia.  Jiang Guiting, Chairman of Jingjin Equipment Co.,Ltd and 34 representatives of GEM nickel resource project partners in Indonesia were invited to participate in this meeting. Prof. Xu Kaihua, Founder and Board Chairman of GEM, and Ms. Wang Min, Co-founder, Joint Actual Controller and Board Director of GEM, attended the conference, while contractors associated with GEM's nickel resources project in Indonesia and overseas laborers fighting on the front line of the project also took part in the meeting. The meeting marked that the construction of the company's nickel resource project in Indonesia has officially entered the 100-day acceleration stage, which will promote the company's nickel resource project in Indonesia to be completed and put into production on schedule.

In January 2024, the production and sales of the Company's business were strong, with sales growth compared to the same period last year. In January 2024, the Company's nickel resource project in Indonesia achieved a nickel metal MHP output of 3,400 tons. At present, the foundation construction work of the Company's nickel resource project in Indonesia, which is under construction, has been fully completed, and the main equipment has arrived at the site, meeting the requirements for installation, and will be completed and started production in stages in June 2024 for three modules (21,000 tons of nickel metal/year each) and released the entire production capacity. The three modules (21,000 tons of nickel metal/year each) will be completed and put into operation in stages throughout this year and the entire production capacity will be released. In addition, the 30,000 tons/year production capacity of the Company's joint venture with MDK (MDK Holdings) will be completed and put into operation in September 2024. Meanwhile, the Company will complete the annual production capacity of 30,000 tons of high-nickel nickel precursor by June 2024, to accelerate the building of a world-class nickel resource new energy material industry chain and engineering technology innovation system as well as a key project for the cooperative development between China and Indonesia in nickel resources.

"Fortune in the snow season, success in the year of the dragon!" At the inauguration ceremony, Chairman Xu Kaihua first sent the blessings of the Year of the Dragon to all the partners who had traveled a long way in the snow and wind, and expressed his sincere gratitude to them for their strong support for the construction of GEM's nickel resource project in Indonesia. Chairman Xu Kaihua said that 2024 is the Year of the Dragon, which is a year of luck and opportunity, and brings together "time, geographical advantages and human harmony". The so-called "time" refers to the new era of global green economy with "green" as the carrier and "dual carbon" as the channel, the new energy industry is booming, new energy vehicles, lithium batteries, photovoltaics have become China's foreign trade "three new things", we adhere to "green development" and we are in the "dual-carbon channel" has become the main theme of today; The so-called "geographical advantage" refers to the fact that with China's rapid economic development and strength, positive and stable geopolitical relations have been established between China and Southeast Asian countries, which creates favorable conditions for cooperation and exchanges between China and Indonesia; and the so-called "harmony" refers to the fact that GEM has a wide range of friendships and "networks" around the world, and has many excellent partners, including the guests of this meeting.

Prof. Xu. Chairman of GEM group, explained how to seize the opportunity of the times and extend the auspiciousness of the Year of the Dragon to all enterprises with three keywords of "building chains", "sailing", and "green". First, strengthen cooperation, build chains and circles, also travel together. In today's world, there is great uncertainty in industrial competition, in the case of overcapacity, we should build a circle of friends and a stable industrial chain, join hands to innovate and break the situation, and enhance core competitiveness, so as to truly usher in "good luck". Second, we must ride the wave to seize the global market. China's initiative to build "One Belt, One Road" encourages Chinese enterprises to set sail, so "sailing" has become an important theme today. The essence of sailing is globalization, participation in the division of labor and cooperation in the global supply chain, which is an inevitable way for the development of the Chinese economy and Chinese enterprises. Third, continue to dream of green industry and develop green industry and supply chain. Green development is the basic color of high-quality development, and in an environment with significant overcapacity, only green capacity is lacking.

Chairman Xu Kaihua recapped the construction history of GEM's nickel resource projects in Indonesia at the meeting. Since GEM came to Indonesia for inspection in 2017, to the first opening of the project in 2019, marking the start of construction, and then the opening of the first phase of the project in 2022, GEM has built the world's first world-class nickel resource project designed, constructed and operated independently. The investment level and output of the project, product quality and operating costs are all among the world's advanced level in the industry, and carbon emissions are significantly lower than the current thermal process, the original design of the first phase of the project annual output of 30,000 tons of nickel metal production capacity can be achieved by an annual output of 40,000 tons of nickel metal production capacity, to achieve overproduction of more than 30%. The great achievement of the GEM nickel resource project in Indonesia is not only the success of Chinese engineering technology, but its success is also inseparable from the strong support of all partners, and this achievement is created by all of us together.

Looking back at the past, we have made great achievements with our expertise; looking into the future, we will sail together to create a brilliant future. Chairman Xu Kaihua pointed out that we should consolidate our past achievements, turn them into lasting competitiveness, inscribe our common equipment technology, combine engineering and process technology permanently in the chapter of Indonesian history. Successfully building a world-class nickel new energy material industry chain and engineering technology innovation system as well as a key project for nickel resource cooperation between China and Indonesia, also enhanced the company's competitiveness in the two major new energy markets of Europe and the United States.

Prof. Xu Kaihua, Board Chairman of GEM, made specific requirements for the "100-day sprint" of the Indonesian nickel resources project. He pointed out that, first, the partners should attach importance to GEM's Indonesia nickel resources project as the "No. 1 project"; second, the construction period should be compressed, and the company should work fast and hard to ensure that all projects will be completed ahead of schedule; third, the company should increase the speed, and the management team should adhere to the vanguard of construction, and increase the manpower for construction. Finally, Chairman Xu Kaihua said, as long as we insist on building a "chain" and "circle", stick to long-term cooperation, deepen friendship in cooperation, help each other in competition, and work together through joy and sorrow, we will win the defense battle of Indonesia GEM nickel resource project in 100 days sprint! All partners will be a great success!

Furthermore, representatives of the partners have made statements, saying that they will fully cooperate with the GEM's 100-day sprint for the construction of Indonesia's nickel resources project, provide high-quality technology, equipment and services for the construction of the project, and resolutely win the battle of the 100-day sprint for the construction of the GEM's Indonesia nickel resources project to ensure that the project operates smoothly and on schedule. "Will definitely fulfill GEM's orders with quality, quantity, on time and satisfactorily!" Jiang Guiting, Chairman of Jingjin Equipment Co., Ltd, made a very solemn promise, and said that after visiting GEM's automated factory, he fully felt that "industrial civilization can be seen from the details, and rely on international products on innovation". Huang Bo, Deputy General Manager of China MCC 22 Group Corporation LTD. Indonesia Company, said in his speech that he will unify the ideological cognition of all participants in the "war", deeply understand the importance of the 100-day battle for the construction of GEM nickel resources projects in Indonesia, and increase the input of personnel, machinery and equipment, and capital, and sign the 100-day battle target responsibility certificate in layers to dynamically monitor the completion of the project construction target. Dynamic monitoring of target completion, timely adjustment, analysis, prediction, feedback, improve construction programs and measures, quickly start the front line of the construction of the 100-day construction climax, scramble for time, fight against the tide, full completion of project construction tasks, and unswervingly win the construction of the Indonesia GEM nickel resource project of the 100-day battle.

"Dragons traveling and flying, pairing up to set sail, breaking through new opportunities! Win the 100-day sprint battle of the Indonesian GEM project!" Chairman Xu Kaihua, Director Wang Min and partners raised their glasses together, made vows, drank wine, and blew trumpets to win the 100-day sprint battle for the construction of the GEM nickel resource project in Indonesia! All partners and all project builders will work together with higher enthusiasm, higher fighting spirit and stronger confidence to develop overseas markets, break through the challenges of industry competition, and do their best to push the company's nickel resource projects in Indonesia to be completed and put into production on schedule, promote the release of GEM's production capacity, and realize the stability and growth of the Group's operating scale.

Chairman Xu Kaihua, Director Wang Min and partners of GEM's nickel resource project in Indonesia

The 100-Day Sprint Swearing Meeting of the GEM Indonesia Nickel Resources Project

Chairman Xu Kaihua delivered a speech

Jiang Guiting, Chairman of Jingjin Equipment Co.,Ltd delivered a speech

Huang Bo, Deputy General Manager of China MCC 22 Group Corporation LTD. Indonesia Company

Chairman Xu Kaihua, Director Wang Min and Indonesia Nickel Project Partner GEM raise a toast in celebration

Before the Sprint Swearing Meeting, Chairman Xu Kaihua led the partners of GEM's Indonesia Nickel Resource Project to visit GEM's Jingmen Park.