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NEW YORK - Graphjet Technology (NASDAQ:GTI), a micro-cap company with a market value of $14 million, hosted a delegation from a Japanese trading company on Wednesday to discuss the supply of sustainable graphite materials, according to a press release from the company. The stock has seen significant volatility this year, declining nearly 90% year-to-date. InvestingPro data shows multiple technical and fundamental indicators that could impact trading decisions.
The visiting Japanese firm, which has operations across North America, Europe, and Southeast Asia, expressed interest in Graphjet’s technology that uses palm kernel shells as renewable feedstock to produce synthetic graphite. The company reportedly has annual revenue of approximately ¥30 billion ($210 million) and serves customers including Toshiba and Hitachi. According to InvestingPro’s financial health assessment, GTI currently shows a weak overall score of 0.71, suggesting potential operational challenges ahead.
During the visit, the delegation toured Graphjet’s R&D production facilities to learn about the company’s manufacturing process and quality assurance systems.
Graphjet CEO Chris Lai stated that the engagement "marks a meaningful step forward in strengthening mutual understanding and laying the groundwork for future collaboration" in sustainable graphite and next-generation technology.
Graphjet Technology, which went public on the Nasdaq under the ticker GTI, utilizes a patented process to recycle palm kernel shells, a byproduct of palm seed oil production. The company claims this method reduces carbon emissions compared to traditional graphite production techniques.
The Malaysian-founded company, established in 2019, produces single-layer graphene and artificial graphite using what it describes as the world’s first patented technology to recycle palm kernel shells for this purpose. The stock currently trades at $0.10, within a 52-week range of $0.06 to $4.27, reflecting the volatile nature of early-stage technology companies in this sector.
The information was disclosed in a company press release.
In other recent news, Graphjet Technology announced the arrival of new equipment in Malaysia, expected to enhance production capacity by approximately seven times. This upgrade aims to improve both the quantity and quality of graphite produced from palm kernel shells. The company also committed to filing overdue quarterly reports by mid-September 2025, as stated by CEO/CFO Chris Lai during a scheduled Nasdaq hearing. Additionally, Graphjet filed its Form 10-K for the fiscal year ended September 30, 2024, addressing compliance issues with Nasdaq and noting financial support from its new controlling shareholder, Aiden Lee. However, the company received a notice from Nasdaq for non-compliance with the minimum bid price requirement, as its shares did not meet the $0.10 per share threshold. A hearing with Nasdaq is scheduled for July 17, 2025, to determine the future of the company’s Class A ordinary shares. Meanwhile, Graphjet is working on completing the audit of its financial statements for the fiscal year ended December 31, 2024. These developments highlight the company’s ongoing efforts to address compliance and operational challenges.
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