Core Points - Graphjet Technology received a letter from Nasdaq on June 12, 2025, indicating that the suspension of trading for its Class A Ordinary Shares has been stayed pending a final decision by the Nasdaq Hearing Panel [1] - The hearing is scheduled for July 17, 2025, allowing the company's shares to continue trading on Nasdaq until that date [1] - The company was previously notified on June 4, 2025, that it was not in compliance with Nasdaq Listing Rule 5250(c)(1) due to delays in filing its Annual Report for the period ended September 30, 2024, and Quarterly Reports for the periods ended December 31, 2024, and March 31, 2025 [2] Company Overview - Graphjet Technology, founded in 2019 in Malaysia, specializes in producing graphene and graphite from agricultural waste, specifically palm kernel shells [4] - The company claims to have the world's first patented technology for recycling palm kernel shells into single-layer graphene and artificial graphite [4] - Graphjet's sustainable production methods aim to transform the global graphite and graphene supply chain [4]

Company Overview - Graphjet Technology is a leading developer of patented technologies to produce graphite and graphene from agricultural waste, specifically palm kernel shells [2][4] - The company was founded in 2019 in Malaysia and has developed the world's first patented technology for recycling palm kernel shells into single-layer graphene and artificial graphite [4] Financial Reporting - The company is finalizing its financial statements for the fiscal year ended December 31, 2024, and aims to file its Annual Report on Form 10-K by the end of June 2025 [2][3] - Graphjet Technology is working closely with its independent registered public accounting firm to ensure the audit of the financial statements is completed expediently [3] Management and Leadership - Aiden Lee, a founder of the company, has recently increased his stake and expressed confidence in the new board of directors, which comprises various professionals with the necessary experience to guide the company forward [4]

Core Viewpoint - Graphjet Technology has received a notice from Nasdaq regarding non-compliance due to delays in filing required reports, but it has a plan to regain compliance within a specified timeframe [1][2]. Company Overview - Graphjet Technology, founded in 2019 in Malaysia, specializes in producing graphene and graphite from agricultural waste, specifically palm kernel shells [4]. - The company holds the world's first patented technology for recycling palm kernel shells into single-layer graphene and artificial graphite, aiming to transform the global graphite and graphene supply chain [4]. Compliance and Regulatory Updates - The notice from Nasdaq indicates that Graphjet is not in compliance with Listing Rule 5250(c)(1) due to delays in filing its Quarterly Report on Form 10-K and Annual Report on Form 10-Q [1][2]. - The company has 60 days to submit a compliance plan, with the possibility of an extension of up to 180 days if the plan is accepted [2]. - Graphjet is actively working to complete the necessary filings to address the compliance issue [3].

Core Viewpoint - Graphjet Technology is advancing sustainable practices in the graphite supply chain by converting agricultural waste into battery-grade graphite, which is crucial for electric vehicles and semiconductors [1][2][3] Company Overview - Graphjet Technology, founded in 2019, specializes in producing graphene and graphite using patented technology that recycles palm kernel shells, a byproduct of palm oil production [3] - The company aims to revolutionize the global graphite and graphene supply chain through sustainable production methods [3] Industry Insights - The Agri-commodity sector in Malaysia presents significant untapped potential, with government support aimed at fostering innovation and enhancing the supply chain [2] - The Malaysian government is committed to promoting green technologies, which aligns with Graphjet's operations and expansion plans [2][3] Facility and Operations - Graphjet's green graphite facility in Subang District, Malaysia, efficiently recycles palm biomass into carbon and graphite, contributing to a sustainable transition to green energy [1][2] - The facility is expected to create local jobs and support the palm oil industry while addressing global demand for sustainable graphite [2]

Core Viewpoint - Graphjet Technology is advancing sustainable practices in the graphite supply chain by utilizing agricultural waste, specifically palm kernel shells, to produce battery-grade graphite and graphene, which aligns with global green energy initiatives [1][2][3][7]. Company Overview - Graphjet Technology, founded in 2019, is a pioneer in producing graphene and graphite from palm kernel shells, a byproduct of palm oil production, through patented technology [3]. - The company aims to set a new standard in the global graphite and graphene supply chain by leveraging sustainable production methods [3]. Recent Developments - The company recently hosted Malaysia's Deputy Minister of Plantation and Commodities, highlighting the government's support for green technologies and the potential benefits for the local palm oil industry [2][6]. - The green graphite facility in Subang District, Malaysia, is designed to recycle palm biomass into carbon and graphite, targeting markets such as electric vehicles and semiconductors [7]. Industry Context - The Agri-commodity sector in Malaysia is seen as having significant untapped potential, with the government encouraging innovation to enhance economic returns [6]. - Graphjet's operations are positioned to contribute to a more sustainable transition to green energy, reflecting broader industry trends towards sustainability [7].

Company Overview - Graphjet Technology is a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, specifically palm kernel shells [1][3] - The company was founded in 2019 in Malaysia and has developed the world's first patented technology for recycling palm kernel shells into single-layer graphene and artificial graphite [3] Leadership Change - Mr. Liu Yu has been promoted to Chief Operating Officer and Chief Scientific Officer, having previously served as Head of Research and Chief Scientific Officer since the company's inception [1][2] - Mr. Liu Yu brings over two decades of experience and will oversee production operations, business development, and customer support while continuing to lead technological initiatives [1][2] Strategic Importance - The promotion of Mr. Liu Yu is seen as crucial for the company's future success, particularly in commercializing its green graphite technology [2] - The company aims to position itself as a primary player in the graphite production industry, leveraging its innovative technology and sustainable practices [2]

Company Overview - Graphjet Technology is a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste [1] - The company was founded in 2019 in Malaysia and has developed the world's first patented technology to recycle palm kernel shells into single layer graphene and artificial graphite [4] Upcoming Events - Management will host a webcast and conference call to provide a business update on December 12, 2024, at 9 AM ET [1] - A live webcast will be available for participants, who are encouraged to log in 5-10 minutes prior to the start time [2] Access Information - Participants can access the call by dialing (877) 407-9208 for domestic callers or (201) 493-6784 for international callers [2] - A replay of the call will be available for two weeks using specific dial-in numbers and Conference ID [3]

Core Viewpoint - Graphjet Technology has achieved significant milestones in producing high-quality synthetic graphite with 99.99% purity and 98.8% graphitization, validating its patented green graphite production technology [1][2][4] Group 1: Technology and Production Achievements - Graphjet's artificial green graphite, derived from palm-based biomass residues, has been validated by a third-party agency, confirming its high purity and graphitization levels [2][4] - The production process involves raw material mixing, molding, and high-temperature graphitization, which is crucial for achieving high-quality graphite [3][5] - The proprietary catalyst formula used by Graphjet allows for cost-effective production of high-quality graphite, maintaining necessary parameters during the graphitization process [4][5] Group 2: Market Applications and Environmental Impact - High-quality artificial graphite produced by Graphjet is suitable for applications in lithium-ion batteries, thermal management, and graphite electrodes, among others [3][6] - Graphjet's technology results in only 2.95 kg of CO2 emissions per kg of graphite produced, significantly lower than the emissions from traditional natural and synthetic graphite production [8] Group 3: Production Capacity and Future Prospects - Graphjet has established the world's first and largest green graphite facility in Malaysia, with an annual production capacity of up to 3,000 metric tons, sufficient for approximately 40,000 electric vehicles [7] - The company aims to position itself as a leading supplier of green graphite, leveraging its innovative technology and sustainable production methods [2][9]

Financial Performance - Graphjet Technology reported a net loss of $2,139,000 for the three months ended June 30, 2024, compared to a net loss of $433,000 for the same period in 2023, representing a 394% increase in losses [106]. - Total operating expenses increased to $2,133,000 for the three months ended June 30, 2024, up 400% from $427,000 in the same period in 2023 [106]. - General and administrative expenses increased from $427 in Q2 2023 to $2,133 in Q2 2024, a 400% increase [108]. - Net loss for Q2 2024 was $2,139, up from $433 in Q2 2023, representing a 394% increase [109]. - For the nine months ended June 30, 2024, general and administrative expenses rose to $14,139 from $1,411 in the same period of 2023, a 902% increase [113]. - The net loss for the nine months ended June 30, 2024 was $14,157, compared to $1,429 in the same period of 2023, an 891% increase [114]. - Cash used in operating activities for the nine months ended June 30, 2024 was approximately $4,346, compared to $217 in the same period of 2023, a variance of 1,903% [115]. - Cash used in investing activities during the nine months ended June 30, 2024 was approximately $1,272, while there were no investing activities in the same period of 2023 [119]. - Cash provided by financing activities for the nine months ended June 30, 2024 was $5,705, with no financing activities reported in the same period of 2023 [120]. - The company has incurred cumulative losses from operations totaling $17.4 million as of June 30, 2024 [127]. Production and Operations - The company plans to start production in August 2024, with an estimated output of 250 tons of graphite per month at full capacity [86]. - Graphjet Technology has not had any sales to date but intends to sample its products to multinational companies for market acceptance [85]. - The company has deferred plans to open its manufacturing plant in Kuantan due to challenging economic conditions [86]. - Graphjet Technology's production process utilizes palm kernel shells, which are currently facing price increases due to high demand [94]. - The qualification process for products typically takes 12 to 18 months, involving thorough testing and compliance checks [104]. Market and Strategic Positioning - Graphite pricing has declined following China's ban on graphite exports, which could adversely affect the company's financial condition [93]. - The company has a patent on its biomass process for graphite production and a pending patent for graphene, positioning it as a unique producer in the market [83]. - Graphjet Technology is actively diversifying its sourcing to mitigate risks associated with the US-China trade war and geopolitical tensions [96]. Financial Outlook - The company expects sufficient working capital for 9-12 months following the completion of the Business Combination and a $2,500,000 PIPE Investment [123]. - The company has no off-balance sheet arrangements as of June 30, 2024 [125].

Financial Performance - For the three months ended March 31, 2024, total operating expenses increased to $11,588, a 1,656% increase from $660 in the same period in 2023[87] - The net loss for the three months ended March 31, 2024, was $11,594, representing a 1,641% increase from a net loss of $666 in the same period in 2023[89] - For the six months ended March 31, 2024, total operating expenses rose to $12,006, a 1,120% increase from $984 in the same period in 2023[91] - The net loss for the six months ended March 31, 2024, was $12,018, reflecting a 1,107% increase from a net loss of $996 in the same period in 2023[93] - Graphjet Technology has incurred cumulative losses from operations totaling $15.3 million as of March 31, 2024[106] Business Operations - Graphjet Technology has not had any sales of its products to date but plans to sample its products to multinational companies for market acceptance[75] - The company aims to be a low-cost producer of high-quality artificial graphite and graphene, utilizing a patented biomass process[73] - Graphjet Technology's technology is based on transforming palm kernel shells into artificial graphene and graphite, significantly reducing carbon emissions[72] - The company has a patent granted for palm-based synthetic graphite and a pending patent for palm-based graphene[78] - The business combination with Graphjet Technology Sdn. Bhd. was completed on March 14, 2024, resulting in Energem changing its name to Graphjet Technology[69] Cash Flow and Financing - Cash used in operating activities for the six months ended March 31, 2024, was approximately $3,296, compared to $222 for the same period in 2023, representing a variance of 1,384%[95] - Cash used in investing activities during the six months ended March 31, 2024, was approximately $1,264, while there were no cash used in investing activities in the same period in 2023[98] - Cash provided by financing activities for the six months ended March 31, 2024, was $5,705, compared to $0 in the same period in 2023, indicating a significant increase[99] - The net increase in cash for the six months ended March 31, 2024, was $1,145, a 616% increase from a net decrease of $222 in the same period in 2023[94] - The company expects that the net impact of the Business Combination along with cash balances will be sufficient to fund operations for at least the next 12 months[106] - The company intends to finance future development activities through equity and debt financing, but there is no assurance that additional financing will be available[107] Risks and Uncertainties - The company has limited operating history and is currently in a research and development phase, with significant uncertainty regarding its ability to continue as a going concern[103] - The company is subject to risks from geopolitical tensions, which may affect its ability to procure raw materials and raise equity and debt financing[127] - The unaudited condensed consolidated financial statements do not include any adjustments that might result from the uncertainties related to geopolitical tensions[127] - As of March 31, 2024, the company was not subject to any market or interest rate risk[128] Tax and Regulatory Matters - The company has no unrecognized tax benefits as of March 31, 2024, and its tax provision was zero for the three months ended March 31, 2024[122] - As of March 31, 2024, the company had cash in excess of RM5,155,493, approximately $1,109,216, exceeding FDIC insured limits[125] - There are no potential dilutive securities outstanding for the six months period ended March 31, 2024, resulting in diluted loss per share being the same as basic loss per share[124] - The company has no off-balance sheet arrangements as of March 31, 2024[104]