On December 20, Gelonghui reported that Changzhou Almaden (002623.SZ) announced the establishment of a joint venture with Shanghai Yuntian to set up Changzhou Almaden (Inner Mongolia ERDOS Resources) New Materials Co., Ltd. (hereinafter referred to as "Inner Mongolia Almaden"). Inner Mongolia Almaden has a registered capital of 20 million yuan, of which the company contributed 14 million yuan, accounting for 70% of the registered capital; Shanghai Yuntian contributed 6 million yuan, accounting for 30% of the registered capital.
Changzhou Almaden (Inner Mongolia ERDOS Resources) New Materials Co., Ltd. is established by the company to implement the strategic layout and business development needs in the northern region, following the production bases in Jiangsu Changzhou, Anhui Fengyang, Liaoning Benxi, and Hebei Shijiazhuang. This move can promote the company's market development and business expansion in the northern region while comprehensively utilizing local resources and Energy advantages to achieve reduced overall costs and improved production efficiency, aligning with the company's long-term development strategy and investment direction.
