1. China Stocks

  2. •

    Process industries

  3. •

    Chemicals: specialty
GEM Co., Ltd. Class A

GEM Co., Ltd. Class A

SSZSE:002340
5.89
CNY
+0.09
(+1.55%)
0.35EPS
18.49P/E
33.73BMarket Cap
Oct 27Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.36
1.35
1.53
2.08
2.82
3.61
3.51
2.72
3.97
5.9
5.88
6.51
7.28
6.95
Basic EPS, GAAP
0.06
0.07
0.05
0.07
0.16
0.19
0.18
0.09
0.19
0.26
0.18
0.2
0.31
0.36
Free Cash Flow per Basic Share
-0.36
-0.56
-0.54
-0.35
-0.38
-0.18
-0.15
-0.12
-0.5
-0.83
-0.62
-1.74
-1.06
- -
Dividend per Share
0.1
0.1
0.13
0.12
0.14
0.19
0.2
0.17
0.13
0.17
0.19
0.24
0.25
0.19
Book Value per Share
0.92
1.37
1.73
1.82
1.97
2.38
2.53
2.78
2.97
3.6
3.65
3.79
4.18
4.24
Tangible Book Value per Share
0.74
0.95
1.29
1.37
1.49
1.97
2.03
2.37
2.55
3.16
3.18
3.3
3.61
3.75
Basic Weighted Avg Shares
2,564
2,888
3,341
3,768
3,815
3,844
4,085
4,583
4,859
4,984
5,192
5,102
5,098
5,136
Sales/Revenue/Turnover
3,486
3,909
5,117
7,836
10,752
13,878
14,354
12,466
19,301
29,392
30,529
33,200
37,124
35,678
Operating Margin (%)
8.9
10.43
9.27
8.43
12.75
12.68
11.17
8.57
9.36
7.93
5.41
9.68
8.41
8.62
Depreciation Expense
217
238
301
393
513
664
672
812
949
1,094
1,388
1,844
2,692
- -
Net Income, GAAP
144
211
154
264
610
730
735
413
923
1,296
934
1,020
1,580
1,836
Effective Tax Rate (%)
7.01
9.84
12.1
15.82
17.97
14.13
13.53
20.13
16.67
13.88
14.61
17.92
14.5
13.99
Profit Margin (%)
4.13
5.4
3.01
3.37
5.68
5.26
5.12
3.31
4.78
4.41
3.06
3.07
4.26
5.15
Working Capital
313
609
1,597
1,602
1,482
2,311
1,584
1,547
3,108
6,954
2,372
-4,534
287
508
LT Debt
1,941
2,163
2,725
3,636
3,831
3,197
2,474
1,512
3,882
7,516
8,167
12,004
14,872
15,109
Total Equity
2,652
4,737
6,783
7,202
7,897
10,224
11,069
14,086
15,809
20,871
21,703
23,500
25,351
24,983
Return on Invested Capital (%)
1.15
1.71
1.09
1.72
3.78
3.92
3.5
1.93
3.8
4.27
3
3.14
3.37
3.33
Return on Capital (%)
4.76
4.29
2.81
3.72
5.54
6.24
5.87
3.77
5.69
5.99
3.33
2.87
4.21
4.72
Return on Common Equity (%)
6.32
6.37
2.84
3.92
8.47
8.39
7.22
3.47
6.71
7.92
5.02
5.34
7.74
8.75

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
15,429
15,792
16,201
LT Borrowings
14,818
15,237
15,055
LT Finance Leases
55
54
54
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5,116
5,103
5,102
Market Capitalization
42,766
40,265
33,727

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
29,198
30,510
29,433
Cash, Cash Equivalents & STI
6,479
5,482
5,191
Accounts Receivable, Net
4,983
6,367
5,745
Inventories
10,043
10,647
11,297
Total Current Liabilities
28,912
29,106
28,925
Payables & Accruals
- -
- -
- -
ST Debt
15,429
15,792
16,201
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.52%
12.88%
7.88%
Free Cash Flow
42.38%
101.84%
-39.3%
Net Income, GAAP
37.92%
40.07%
54.87%
Sales/Revenue/Turnover
24.12%
26.31%
11.82%
Total Cash Common Dividend
12.68%
12.21%
6.17%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,354
8,984
7,534
8,327
33,200
2025
9,496
8,065
- -
9,626
37,124
2026
9,982
8,005
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
0.05
0.04
0.02
0.2
2025
0.1
0.06
- -
0.09
0.31
2026
0.1
0.11
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.05
0.11
0.04
0.24
2025
0.04
0.05
- -
0.05
0.25
2026
0.05
0.04
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Kai Hua Xu
Full Time Employees
9,684
Sector
Process industries
Industry
Chemicals: specialty
Address
Xingtong Building Shenzhen GD China 518100
IPO Date
Jan 22, 2010
Website
gemchina.com
Similar Companies
Petkim Petrokimya Holding Anonim Sirketi (BIST:PETKM)
Albemarle Corporation (NYSE:ALB)
Linde plc (NASDAQ:LIN)
Gubre Fabrikalari T.A.S. (BIST:GUBRF)
IOL Chemicals & Pharmaceuticals Ltd. (NSE:IOLCP)
Dow Inc. (NYSE:DOW)
Business
GEM Co., Ltd. is a Shenzhen-based company founded in 2001 specializing in the recycling and processing of key metal resources and new energy battery materials. The company's core products include ternary precursor and cathode materials for lithium power batteries such as nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminum (NCA) battery materials; ultrafine cobalt-nickel powders and chemicals; cobalt oxide, lithium cobaltate, nickel chemical products; recycled tungsten carbide, tungsten powder, and cemented carbide products; precious metals including gold, silver, palladium, and rhodium; wood plastic composites and other recycled plastic products; and energy storage solutions such as energy storage power stations, UPS, and lithium-ion battery systems for applications including aerial work platforms and electric vehicles. GEM operates across China and internationally, with a strategic focus on battery recycling, including recycling of used batteries, electronic waste, and scrapped automobiles. Recent major developments include the completion of a 20,000-ton capacity lithium iron phosphate (manganese) production line in 2025 at the Fu'an Industrial Park and the establishment of an annual 50,000-ton production capacity facility for high-nickel ternary precursor materials in Indonesia. The company has also signed a Memorandum of Understanding with US-based Ascend Elements, Inc. to expand into the European power lithium battery recycling and nickel-cobalt-lithium resource recovery markets. Additionally, GEM submitted an application for listing on the Hong Kong Stock Exchange in 2025, supported by joint sponsors JPMorgan, CITIC Securities, and CICC International. The firm's business model integrates key metal recycling, lithium battery recycling, and new energy material manufacturing, contributing to its global green industry strategy. GEM maintains a network of 16 recycling industrial parks across China with over three million tons of annual waste treatment capacity and has been expanding its operations and partnerships internationally to secure critical metal supplies and enhance production capacity for battery materials amid changing trade policies and supply chain dynamics.