Jinmoly Corporation: Intends to invest 510 million yuan to establish a joint venture subsidiary to build a molybdenum-based new materials base.

Jinduicheng Molybdenum Co., Ltd. announced on June 5 that the board of directors approved the proposal for the establishment of a new joint venture subsidiary. The company plans to invest 510 million yuan to jointly establish Anhui Jinsha Molybdenum Industry Co., Ltd. and Anhui Jin Fu Smart Energy Co., Ltd., with a registered capital of 1 billion yuan. The company will hold 51% of the shares and will establish a molybdenum-based new material deep processing base.