The application for a Hong Kong initial public offering submitted by Gem Co., Ltd. (SZSE: 002340) on September 22, 2025, has lapsed as of March 22, 2026, after the six-month validity period expired. At the time of the application, J.P. Morgan, CITIC Securities, and China Securities (International) served as its joint sponsors. According to the previously filed prospectus, Gem Co., Ltd. is a leader in the recycling and production of critical metal resources and the lithium-ion battery recycling industry, as well as a leading enterprise in the global new energy materials manufacturing sector. Since its establishment in 2001, the company has developed a comprehensive business model centered on a circular economy, covering three core business segments: critical metal resources, lithium-ion battery and end-of-life vehicle recycling, and the new energy materials field.
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