Jiangsu Azure to Buy Stake in GEM Unit for $20 Million

MT Newswires Live

2025/10/15

Jiangsu Azure (SHE:002245) expects to acquire 5.95% in PT Indonesia Qingmei Energy Materials for $20 million, according to a Shenzhen bourse filing on Wednesday.

Indonesia Qingmei Energy, an indirect subsidiary of GEM (SHE:002340), is a manufacturer of non-ferrous basic metals and batteries.

The acquisition will be made through a capital increase via share placement.

The lithium battery manufacturer's shares rose less than 2% at the close.

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