Source: China Nickel Industry Network

On October 21, Tianyancha showed that Henan Central Source Titanium Industry Co., Ltd. was recently established with a registered capital of 250 million yuan. Its business scope includes precious metal smelting; rare rare earth metal smelting; non-ferrous metal alloy manufacturing; new material technology research and development, etc. Equity penetration shows that the company is jointly held by Yongjin, Longbai Group, Hangyu Technology, etc., of which Yongjin shares account for 51%.

Previously, the three listed companies of Yongjin, Longbai Group, and Hangyu Technology announced separately that they would jointly establish Henan Zhongyuan Titanium Industry Co., Ltd. to build a new titanium alloy material project with an annual output of 60,000 tons.

The partners will jointly invest 500 million yuan in cash to establish Central Source Titanium, of which Yongjin Co., Ltd. will contribute 255 million yuan and hold 51% of the shares, and Longbai Group will invest 100 million yuan and hold 20% of the shares. Invest 50 million yuan and 95 million yuan.

The planned investment in the new titanium alloy material project is about 3.144 billion yuan, including 2.308 billion yuan in construction funds. The project will be constructed in three phases, of which the planned construction period of the first and second phases is 18 months, and will respectively build production lines for new titanium alloy materials with an annual output of 15,000 tons. The third phase of the project will take 24 months to build a new material production line with an annual output of 30,000 tons of titanium alloy deep processing.