Jinduicheng Molybdenum Co., Ltd. (601958.SH) plans to invest 510 million yuan to establish a joint venture subsidiary to build a deep processing base for molybdenum-based new materials.

Wisdom Finance APP News, Jindu Shares (601958.SH) announced that in order to achieve the scientific, standardized, and efficient development and utilization of the Shapingou Molybdenum Mine, the company plans to jointly establish a joint venture subsidiary Anhui Jinmu Huaxin Technology Co., Ltd. (tentative name, referred to as the target company) with Anhui Jinsha Molybdenum Industry Co., Ltd. and Anhui Jinfu Smart Energy Co., Ltd., to build a molybdenum-based new material deep processing base. The company will lead the development, construction, and operation of the company. The registered capital of the target company is 1 billion yuan, and the company has subscribed for 51% of it, which is 510 million yuan.