At 21:00 on July 28, Beijing time (15:00 on July 28, local time in Zurich, Switzerland), GEM’s Global Depository Receipts (GDR) were officially listed on the SIX Swiss Exchange. After the revision of the “China-Europe Connect” rules of the China Securities Regulatory Commission and the realization of a two-way expansion of the scope of application, GEM became one of the first two listed companies on the Shenzhen Stock Exchange to be approved to issue GDR projects, and it was also the first Chinese listing that successfully issued and listed GDR projects on the Swiss Exchange. company.
According to GEM’s announcement, the company completed the book-run issuance of 31,002,500 GDRs on the SIX Swiss Exchange at a price of US$12.28 per GDR and raised US$381 million. It was the first company to issue Swiss GDRs to fully exercise the global coordinator and The over-allotment right of the stable price operator, and the issuance is successfully completed exclusively at the upper limit of the issuance range. More than 50 institutional investors from around the world participated in the subscription of GEM’s GDR issuance. The subscription situation was hot, and the world‘s top institutions led the subscription. The subscription quota was 261% of the planned issuance quota, and the subscription of overseas foreign institutions in China accounted for 52.5%. The issuance results show that global investors have a high degree of recognition of GEM’s green industry. The capital raised this time will be invested in GEM’s power battery recycling and new energy material manufacturing projects in Europe and the nickel resource project in Indonesia. This project will meet the EU’s “New Battery Law”, meet the needs of new energy development in Europe, and promote GEM’s rapid occupation of new energy in Europe. energy industry market. As a result, GEM will use the power of the European capital market to rapidly expand the green industry from China to the world.
As an important practitioner of mixed mechanism and mixed capital, China State-owned Enterprise Mixed Ownership Reform Fund, together with Xiamen C&D Development, Xiamen Xiangyu and other Chinese-funded groups, led the investment in GDR products issued by GEM, and used capital as a link to support GEM with outstanding performance. Leading ESG companies, global urban mining leaders and leading companies in the new energy industry chain took the lead in landing on the Swiss Stock Exchange, heading to Europe, connecting China’s circular economy with the European circular economy, and conveying the concept of sustainable development of China’s circular economy to the world.
GEM, as one of the first Chinese green leaders to enter the SIX Swiss Exchange, has attracted great attention from the global capital market and industry. Twenty years ago, GEM was established based on the green ideal of “Green-Eco-Manufacture”, and proposed the industrial concept of “limited resources, infinite circulation”, and solved the shortage of resources and environmental degradation with the industrial model of mining urban mines. the contradiction. On January 22, 2010, GEM was listed on the Shenzhen Stock Exchange. Over the past 20 years, with the support of China’s capital market, GEM has completed its operations in 11 provinces and cities in China from recycling mobile phone batteries, to recycling electronic waste, scrapped automobiles, strategic nickel-cobalt-lithium resources, and recycling power batteries and power battery materials. 16 advanced waste recycling industrial parks, with a green footprint covering 9 million square kilometers in China, and green factories have been built in Indonesia, South Korea, and South Africa. At present, the electronic waste recycled by GEM accounts for more than 10% of the total scrap in China; the annual recycled cobalt resources exceed 200% of the original cobalt mining in China, accounting for 20% of the global cobalt resource recycling; the annual recycled nickel resources account for 8% of China’s primary nickel mining; annual recycling of used batteries accounts for about 10% of China’s total scrap. GEM turns waste into high-quality products and enters the international head market chain. 50% of the world‘s cemented carbide tool products use the ultra-fine cobalt powder made by GEM, and more than 15% of the world‘s ternary battery new energy vehicles are loaded with GEM-made products. The ternary precursor “core” material. In the past 10 years, GEM has cumulatively reduced carbon emissions by more than 2 million tons, saved more than 3 million barrels of oil, and reduced deforestation by 3,000 hectares. Development of the world‘s advanced enterprise representatives.
On July 28, at the celebration ceremony for the first listing of GDRs jointly held by Shenzhen Stock Exchange and SIX Swiss Exchange, GEM Chairman Xu Kaihua praised the CSRC, SZSE and SIX for the issuance of Chinese companies on SIX. GDR provides high-quality services and pioneering efforts for the whole green channel. It is said that the capital market regulators of China and Switzerland have demonstrated to the world the high-speed rail-like service speed, Sino-Swiss capital market regulators in this issuance review of Chinese enterprise GDR projects. The powerful force of capital cooperation will surely light up the surging passion of Chinese enterprises to go global!
At the same time, GEM promises to global investors that it will implement the management rules of the Swiss Stock Exchange, adhere to the integrity of management, protect the rights and interests of shareholders, promote ESG cooperation in the global industrial chain, make the world circulate, and make green contributions of Chinese enterprises to curb global greenhouse gas emissions. , to create green value and good investment returns for global investors.
GEM believes that, standing at the intersection of the world‘s major industrial changes, the world is joining hands on the journey of “carbon neutrality”, green has become the background color of world development, and “double carbon” has become a new global development channel. Only by going global can Chinese enterprises share the great opportunity of green development in the world.
As a green leader in the mining of urban mines and new energy materials in China, GEM has successfully landed on the Swiss Stock Exchange this time. It will seize the bright future of the green era and use the power of global capital to quickly expand the territory of green industries from China to the world. Join hands with global investors to cook a pot of “double carbon” wine, toast to drink, burn with passion, set sail, and go to a green future together!
(This article does not constitute any investment advice, and investors operate on this basis at their own risk.)