On November 4, GEM Co., Ltd. successfully issued its first Technology Innovation-Themed Medium-Term Note (Note Abbreviation: 25 GEM MTN001, “Tech Innovation Note”), with a total issuance size of RMB 500 million, a term of 3 years, and an issuance interest rate of 2.75%. The funds were successfully received on November 5. This issuance was supported and guided by the Shenzhen Branch of the People’s Bank of China, fully reflecting the recognition of GEM’s green technology innovation capabilities and green industrial practices by both the state and the capital market.

▲ Warm congratulations on the successful issuance of GEM’s first Tech Innovation Note in 2025.

According to information, the medium-term note were successfully listed on October 31 with the China Interbank Market Dealers Association, with a subscription range of 2.60% to 2.85%. On November 4, the public book-building process was completed, and the final pricing was set at an interest rate of 2.75%. This rate is lower than recent price levels for similar issuances in the industry, reflecting strong investor confidence in GEM’s long-term development prospects and the positive response from the capital market.

This note is the first AA+ rated medium-term note in Shenzhen’s market focused on technology innovation for a private enterprise. It is also the only Note in Shenzhen that simultaneously includes four key attributes: private enterprise, strategic emerging industries, advanced manufacturing, and green finance. Moreover, this marks GEM’s first note issuance in the open market that focuses on technology innovation. The funds raised will primarily support the company’s technological research and development and industrial upgrades in areas such as the recycling of used power batteries, production of power battery materials, and the recycling of critical mineral resources. This will accelerate GEM’s high-quality development in urban mining and new energy materials manufacturing. The successful issuance of this note not only optimizes the company’s debt structure but also injects new momentum into the company’s green financing channels and its continued technological innovation efforts.

GEM has consistently adhered to its mission of “recycling for future” and actively construct an industry system driven by a dual-track approach of “urban mining + new energy materials manufacturing.” Through technological innovation, GEM is driving the upgrading of the green industry and is committed to becoming a world-class green industrial enterprise. Looking ahead, GEM will take the successful issuance of this Technology Innovation Note as an opportunity to continue its deep engagement in the circular economy and new energy materials sectors. The company will further promote the synergy between industry and finance, collaborating with financial institutions to build a green financial ecosystem and contribute to the realization of China’s green development within the framework of Chinese-style modernization.