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On January 7, according to the Ministry of Safety Production and Ecological Environment of Jiangsu Taixing Economic Development Zone, at about 12:00 on the same day, the new raw material purification workshop of GEM (Jiangsu) Cobalt Co., Ltd. (hereinafter referred to as “GEM Taixing Factory”) caught fire. After receiving the report, the relevant departments quickly and effectively dealt with it, and the accident caused no casualties. As of the announcement, the fire has been effectively brought under control. According to on-site environmental monitoring, atmospheric indicators are within the normal range. OEM CNC machining metal parts steel fabrication china
On the evening of January 7, a local person from the Taixing Economic Development Zone told the reporter of “Daily Economic News” on the phone that her workplace was close to the GEM Taixing factory, and she also saw a video of the fire in the local WeChat group. The video showed At that time the fire was large.
The online video showed that the surrounding area of the factory was shrouded in thick black smoke, with fires flickering in it, and there were many fire trucks parked beside it, and the firefighters were doing their best to put out the fire. Some netizens said, “At around 4 o’clock, there were more than 20 fire trucks pulling the alarm and driving towards the Nantong West Expressway exit.”
According to the Shanghai Securities News, the fire was in the auxiliary workshop of the Taixing factory for the production of cobalt products. After the accident, the local fire department quickly arrived at the scene, and GEM cooperated with the local fire emergency department to carry out fire fighting operations, and the fire was extinguished.
According to the relevant person in charge of GEM, in this accident, the core process of manufacturing cobalt products, the main product of GEM’s Taixing factory, was not affected, and the production and operation of other GEM’s subsidiaries are normal. It is expected that this accident will have limited impact on GEM’s current operations. OEM CNC machining metal parts steel fabrication china
According to public information, GEM was established in 2001. It is the first stock in China to mine “urban mines” resources, the first stock in the renewable resource industry and the electronic waste recycling industry to recycle waste power batteries, electronic waste, End-of-life vehicles, waste plastics and nickel-cobalt-lithium-tungsten strategic resources are the main businesses. In 2010, GEM was listed on the Shenzhen Stock Exchange.
According to public information, GEM (Jiangsu) Cobalt Co., Ltd. was established in 2003, covering an area of about 100,000 square meters and employing about 440 people. The company’s main products include cobalt tetroxide materials for 3C digital batteries, cobalt metal flakes for magnetic materials and alloy materials, high-purity basic chemical raw materials cobalt chloride, cobalt sulfate, etc. A cobalt private enterprise registered and delivered by the Metal Exchange (LME), and one of the world’s top three cobalt tetroxide suppliers.
The shareholding structure shows that there are two shareholders of GEM Taixing factory, namely GEM (SZ002340, stock price 7.69 yuan, market value 39.493 billion yuan) and Jingmen GEM New Material Co., Ltd., a wholly-owned subsidiary of GEM, with shareholding ratios of 48.90% and 51.10% respectively. %. OEM CNC machining metal parts steel fabrication china
According to reports from Taizhou Rong Media Center, GEM (Jiangsu) Cobalt Industry Co., Ltd. is mainly engaged in the research, development and production of high-end strategic metal cobalt products. Among them, the investment of 1.73 billion yuan in the first phase of the project was quickly implemented, including the expansion project of 5,000 tons of cobalt tetroxide materials for batteries, the project of 30,000 tons of multi-component precursors, and the project of 5,000 tons of lithium cobalt oxide cathode materials. In 2020, the company’s output will double that of 2019, with sales revenue of 2.6 billion yuan, a year-on-year increase of 27%, and profits and taxes of 140 million yuan.
According to the research announcement released by GEM on November 10, 2022, by the end of 2021, the company has built a total production capacity of 230,000 tons of ternary precursors in Jingmen, Hubei, Taixing, Jiangsu (GEM Jiangsu Cobalt), and Fuan, Fujian. The production capacity of the two bases is outside the period of customer demonstration and ramp-up release, and the production capacity utilization rate of Jingmen Park is nearly 90%.
On the official website of the Taixing Municipal People’s Government, an article published on December 27, 2022 disclosed that GEM’s Taixing factory was rated as a national-level specialized and new “little giant” enterprise. The company’s main product is cobalt Consumer electronic devices, such as 3C digital, drones, electronic cigarettes, etc., are currently the second largest in sales in the world. The company has invested a lot in the research and development of new products. The newly developed doped tricobalt tetroxide product has excellent performance and is world-leading. It is expected to be launched in 2023. OEM CNC machining metal parts steel fabrication china
GEM’s 2022 semi-annual report shows that during the reporting period, GEM Jiangsu Cobalt achieved revenue of 3.6 billion yuan and a net profit of 151 million yuan. Based on GEM’s total revenue of 13.9 billion yuan and net profit of 681 million yuan, GEM Jiangsu The cobalt industry accounted for 26% and 22% of the company’s total revenue and net profit, respectively.
GEM Jiangsu Cobalt has total assets of 4.095 billion yuan and net assets of 1.748 billion yuan. During the reporting period, the main business was the production and sales of cobalt products. OEM CNC machining metal parts steel fabrication china