Gem: Subsidiary Power Regeneration and Lvtong Technology Sign Strategic Cooperation Framework Agreement to Build Full Life Cycle Green Value

On September 17, 2025, Greeenmei announced that its holding subsidiary, Wuhan Power Battery Recycling Technology Co., Ltd., signed a strategic cooperation framework agreement with Guangdong Lvtong New Energy Electric Vehicle Technology Co., Ltd. Both parties will establish a comprehensive strategic partnership in the fields of new energy site vehicles and power battery recycling and utilization, achieving a full lifecycle value chain system for the recycling and utilization of new energy site vehicles and power batteries, as well as after-market maintenance and material recycling.

According to the agreement, both parties will engage in comprehensive cooperation in the new energy markets in China and overseas, focusing on electric sightseeing vehicles, golf carts, cleaning vehicles, and other facility vehicles, as well as lithium battery projects. This includes lithium battery system development and supply, battery system integration and vehicle procurement, operation asset holding and promotion, and recycling of used vehicles and lithium batteries. Lvtong Technology will give priority to purchasing lithium battery systems provided by Power Regeneration, while Power Regeneration will ensure the advantages in production capacity, delivery time, and price of the lithium battery systems. The two parties will also jointly invest in establishing an asset holding company or entity, concentrating on the operation and leasing business of scenic area sightseeing vehicles.

The agreement clearly states that Lvtong Technology is obligated to hand over its own or post-sale returned vehicles and batteries to Power Regeneration for compliant disposal, while Power Regeneration provides a residual value guaranteed recycling service. The cooperation period between the two parties is five years, effective from the date of signing and stamping. The strategic cooperation framework agreement signed this time is a framework agreement of the intentions and basic principles of cooperation between the two parties, and there is some uncertainty in the specific implementation process.

The announcement shows that Lvtong Technology was established on May 11, 2004, with a registered capital of 142,458,008 RMB. It is a company listed on the Growth Enterprise Market of the Shenzhen Stock Exchange, with the stock code 301322. The company has no affiliation with GEM and the company's controlling shareholders, actual controllers, directors, and senior management.

GEM stated that this cooperation is beneficial for enhancing the company's position and competitiveness in the field of power battery recycling, aligns with the company's long-term development strategy, and serves the interests of its investors. The signing of this strategic cooperation framework agreement does not affect the independence of the company's operations and business, and will not have a significant impact on the company's financial condition and business results for the current year.