On August 29, GEM Co., Ltd. (002340.SZ) disclosed its 2026 semi-annual report. According to the report (innovation achievements section), the company's sodium polyanionic precursor industrialization has accelerated: a 10,000-tonne-per-year dedicated line was commissioned in Q2 2026, achieving a closed-loop process from precursor to cathode through precise control of Fe/P ratio and sodium content in the co-precipitation stage, delivering steady shipments and making GEM one of the very few companies globally with scaled sodium polyanionic production capability. The report also discloses that its second-generation high-energy 9-series cathode products are shipping steadily at hundred-tonne levels per month, ultra-dense high-nickel precursors for solid-state batteries reached hundred-tonne output, and sodium polyanionic precursors form a diversified new energy materials matrix alongside ultra-high-nickel and lithium-rich manganese-based products.
GEM started in spent battery recycling, with core businesses in power battery recycling and ternary precursor manufacturing. Sodium polyanionic precursors (NFPP, sodium iron sulfate, etc.) are key extensions of its battery materials business into new chemistries - the core difficulty of polyanionic precursors lies in precise control of Fe/P ratio and sodium content (affecting final cathode phase purity and electrochemical performance). GEM transfers its metal element precision control capabilities accumulated in recycling and ternary co-precipitation to sodium systems, forming a 'recycling - materials - precursor - cathode' closed loop.