The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of GEM Co., Ltd.* 格林美股份有限公司 (A joint stock company incorporated in the People's Republic of China with limited liabili ...

香港聯合交易所有限公司及證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分內容而產生或因依賴該等內容而引 致的任何損失承擔任何責任。 格林美股份有限公司 GEM Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司，中文公司名稱為「格林美股份有限公司」， 在香港以「Gelinmei」開展業務） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的 要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。閣下閱覽本文件，即代 表閣下知悉、接納並向格林美股份有限公司（「本公司」，連同其子公司統稱「本集團」）、本公司的聯 席保薦人、整體協調人、顧問及包銷團成員表示同意： 倘在適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據於香港公司註冊處處長註冊 的本公司招股章程作出投資決定。該文件的文本將於發售期內向公眾人士刊發。 * 僅供識別 (a) 本文件僅向香港公眾人士提供有關本公司的資料，概無任何其他目的。投資 ...

Investment - The article discusses various investment opportunities in new materials, semiconductors, and renewable energy sectors, highlighting the potential for growth and innovation in these industries [1][3][4]. Semiconductor - It emphasizes the importance of semiconductor materials such as photolithography, electronic special gases, and silicon wafers, which are critical for advanced packaging and manufacturing processes [1][3]. - The report also covers the advancements in third and fourth generation semiconductors, including silicon carbide and gallium nitride technologies, which are expected to drive future growth [1][3]. New Energy - The article outlines the investment landscape in new energy, focusing on lithium batteries, solid-state batteries, and hydrogen energy, which are pivotal for the transition to sustainable energy solutions [1][3]. - It highlights the significance of materials like silicon-based anodes and composite current collectors in enhancing battery performance [1][3]. Photovoltaics - The report details the photovoltaic sector, including materials such as solar glass, encapsulants, and back sheets, which are essential for solar panel efficiency [1][3]. - It also mentions the role of quartz sand and perovskite materials in the development of next-generation solar technologies [1][3]. New Display Technologies - The article discusses new display technologies, including OLED, MiniLED, and MicroLED, and the materials required for their production, such as optical films and adhesives [3][4]. Fibers and Composites - It covers advancements in fiber materials like carbon fiber and aramid fiber, which are crucial for lightweight and high-strength applications in various industries [3][4]. Notable Companies - The report lists key players in the materials sector, including ASML, TSMC, BYD, and Tesla, emphasizing their roles in driving innovation and market growth [4][3].

Group 1 - The company held an online investor reception on September 19, 2025, where management addressed key investor questions regarding joint ventures and business strategies [1] - The joint venture with Geely Group's Zhejiang Yuancheng New Energy Commercial Vehicle Group is currently undergoing regulatory approval and has not yet completed business registration [1] - The joint venture will focus on the new energy materials sector, particularly in research and innovation related to battery materials and green methanol production technologies [1] Group 2 - The company emphasizes the importance of market value management, implementing strategies to enhance core business efficiency and optimize communication with investors [2] - Cash dividends have increased from 20.12% to 31.97% of net profit over the past three years, reflecting a commitment to stable returns for shareholders [2] - The company is in the early stages of manganese mining at the Jingxi Aitun manganese mine and is currently exploring the Xiangtan Nanmuchong manganese mine [2] Group 3 - The company's subsidiary, Guangxi Lijin New Materials Co., is collaborating with solid-state battery companies on lithium manganese oxide applications, with breakthroughs expected by late 2026 or early 2027 [2] - Details regarding the top ten shareholders and their changes will be disclosed in the third-quarter report [2] - The company has not confirmed any collaboration with Qingtai Energy or supply situations, but some products are applicable in the energy storage battery sector [2]

Group 1: Company Developments - The joint venture with Zhejiang Yancheng New Energy Commercial Vehicle Group is currently undergoing regulatory approval and has not yet completed business registration. The focus will be on new energy materials, particularly battery materials [2]. - The company is conducting research and innovation in the field of new energy materials, including solid-state battery applications [2]. Group 2: Market Management - The company is actively managing its market value by enhancing core business efficiency, optimizing industry layout, and maintaining stable cash dividends. The cash dividend payout ratio has increased from 20.12% to 31.97% over the past three years [3]. - Regular communication with institutional investors and minority shareholders is emphasized to clearly convey the company's strategic value and growth potential [3]. Group 3: Mining Operations - The mining operations at Jingxi Aitun Manganese Mine are still in the preparatory phase, while exploration work is ongoing at the Xiangtan Nanmuchong Manganese Mine [3]. Group 4: Product Applications - Some of the company's products are applicable in residential energy storage battery fields [4]. - The company is collaborating with solid-state battery enterprises on the application of lithium manganese oxide in semi-solid/solid-state battery fields, with expected breakthroughs around late 2026 or early 2027 [3].

Core Viewpoint - The company approved a proposal for its wholly-owned subsidiary to utilize up to 250 million yuan of temporarily idle raised funds for cash management, aiming to enhance fund efficiency and increase shareholder returns [1] Group 1: Financial Management - The cash management proposal has a validity period of 12 months and allows for the rolling use of funds [1] - The company previously raised 3.25 billion yuan through convertible bonds, with a net amount of 3.238 billion yuan after deducting expenses [1] Group 2: Investment Strategy - The cash management will focus on investing in products that have high safety, good liquidity, and meet capital preservation requirements [1] - The company stated that this cash management will not affect the fundraising projects [1] Group 3: Risk Control - The company has established relevant risk control measures, and both the audit committee and the sponsor institution have expressed their agreement with the proposal [1]

Company Summary - Jinyuan Co., Ltd. (SZ 000546) announced on September 19 that major shareholder Ms. Pan Ying will解除质押 8 million shares, reducing her total pledged shares to 24.7 million, which represents 37.35% of her holdings [1] - As of the announcement date, Jinyuan's market capitalization is 3.9 billion yuan [1] - For the first half of 2025, Jinyuan's revenue composition is as follows: Environmental protection industry accounts for 99.41%, new energy materials 0.39%, and other businesses 0.2% [1] Industry Overview - The environmental protection sector is the primary revenue driver for Jinyuan, indicating a strong focus on this industry [1]

Group 1 - *ST Weir reached the daily limit with a price of 28.25 yuan, a rise of 4.99%, and a total market value of 4.255 billion yuan [1] - The company is undergoing a significant strategic transformation by selling its instrumentation business and planning to acquire 51% of Zijiang New Materials, entering the new energy materials sector [2] - Zijiang New Materials specializes in lithium battery aluminum-plastic film, holding a 22.2% market share in the domestic market, indicating strong industry growth potential [2] Group 2 - Zijiang Group has committed to a net profit of no less than 65.5 million yuan, 78.5 million yuan, and 95.8 million yuan for the years 2025 to 2027, providing a performance guarantee for the company [2] - The transaction is expected to turn the company's earnings per share (EPS) from negative to positive, improving asset quality, with a projected EPS increase from -0.12 yuan to 0.27 yuan in 2025 [2] - The cash payment method for the acquisition avoids share dilution, minimizing the impact on existing shareholders' equity [2] Group 3 - On September 18, the company was included in the "Dragon and Tiger List" with a transaction volume of 199 million yuan, indicating institutional net buying, which reflects positive sentiment towards the company's transformation [2] - The recent market focus on new energy materials has led to better performance of related stocks, creating a certain degree of sector linkage effect [2]

Core Viewpoint - The "Two Countries, Twin Parks" initiative between China and Malaysia is advancing towards a more integrated cross-border industrial and supply chain, with significant investment commitments and international collaboration [1][3]. Investment and Projects - A total of 50 investment projects and cooperation agreements were signed during the promotion conference, with a total investment exceeding 42.4 billion RMB [1]. - The projects span various sectors including artificial intelligence, food processing, international trade, port logistics, new energy materials, and equipment manufacturing [1][3]. International Collaboration - The initiative has attracted investors from various regions including Asia and Africa, indicating a shift from bilateral to multilateral cooperation [3]. - The "Two Countries, Twin Parks" platform is expanding its international cooperation network, marking a new phase of deep integration in the industrial and supply chain [3]. Historical Context - The China-Malaysia Qinzhou Industrial Park and Malaysia-China Kuantan Industrial Park are recognized as the world's first international "sister parks," pioneering the establishment of national-level industrial parks between China and ASEAN countries [3][4]. - Over the past decade, both parks have facilitated significant projects, creating complementary cross-border industrial chains in sectors such as bird's nest, palm oil, recycled metals, and new chemical materials [3][4]. Economic Impact - As of mid-2023, the Qinzhou Industrial Park has attracted 373 projects with a cumulative industrial output value of 121 billion RMB, while the Kuantan Industrial Park has signed 16 projects with an output value exceeding 100 billion RMB [4]. Future Developments - The current phase of the "Two Countries, Twin Parks" initiative focuses on quality enhancement, including strengthening industrial layout, accelerating smart port and customs construction, and innovating supply chain financial services [4]. - The integration of artificial intelligence into industrial development is a key focus, with several AI-related projects already established in the Qinzhou Industrial Park [4].

Group 1 - The company Ba Tian Co., Ltd. (SZ 002170) announced the appointment of several key executives, including Mr. Huang Peizhao as President and Mr. Wu Yihui as Executive Vice President [1] - The revenue composition for Ba Tian Co., Ltd. for the first half of 2025 is as follows: chemical fertilizer manufacturing accounts for 59.65%, phosphate mining accounts for 39.26%, and new energy materials account for 1.09% [1] - As of the report date, Ba Tian Co., Ltd. has a market capitalization of 10.3 billion yuan [1]