On June 13th, GEM co.,ltd. (002340.SZ) stated on its investor interactive platform that in 2023, the power battery recycling and dismantling power battery will reach 27,454 tons (3.05GWh), a year-on-year increase of 57.49%, accounting for more than 10% of China's retired power battery total, and the power battery recycling business achieved a revenue of 1.131 billion yuan, a year-on-year increase of 81.98%, accounting for 3.71% of the company's total revenue. Despite the decline in profit margins and severe challenges in the entire industry, the power battery recycling business achieved significant growth through technological innovation, commercial model, and other means. The company currently has five standardized announcement enterprises for comprehensive utilization of new energy waste power rechargeable batteries, the most in China, mainly located in Jing-Jin-Ji, Yangtze River Delta, Pearl River Delta and central China, and has expanded battery recycling and utilization in South Korea, Indonesia and other countries through cooperation, connecting innovation chains, driving industry chains, and enhancing value chains. By 2024, the company plans to achieve a power battery recovery volume of 45,000 tons, a year-on-year increase of 64%. By 2030, the company plans to achieve a power battery recycling (including battery waste) scale of more than 500,000 tons, and the sales scale of power battery recycling business will reach more than 10 billion yuan.