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Youyan Xinshi holding subsidiary and controlling shareholders plan to contribute to the establishment of Xiongan rare Earth Company
Jul 31,2019 08:22CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 31-month news: Youyan Xinshi (600206) evening announcement said that the company's holding subsidiary Youyan rare Earth New Materials Co., Ltd. (hereinafter referred to as "Youyan rare Earth") and its controlling shareholder Youyan Technology Group Co., Ltd. (hereinafter referred to as "Youyan Technology Group") and other companies intend to jointly contribute to the establishment of Hebei Xiongan rare Earth functional material Innovation Center Co., Ltd. (hereinafter referred to as "Xiongan rare Earth"). Youyan Xinshi said that the holding subsidiary of the company, Youyan rare Earth and Youyan Science and Technology Group, and other companies jointly funded the establishment of Hebei Xiongan rare Earth functional material Innovation Center Co., Ltd., which is conducive to giving full play to its comprehensive advantages and promoting the supply-side structural reform of the rare earth industry, is conducive to continuously enhancing the ability and level of scientific and technological innovation of the company, and enhancing the influence and position of the company in the rare earth industry. To provide the basis and guarantee for the realization of high-quality development.

According to the announcement, the registered capital of Xiongan rare earths does not exceed 100 million yuan, and the total amount of the initial subscription is 77 million yuan, of which 30 million yuan is to be subscribed by the Research Technology Group and 20 million yuan is to be subscribed to the first phase of Yuyan rare Earths. Other shareholders, including China rare Earth Co., Ltd., China Nonferrous Construction Co., Ltd., etc., have expressed their intention to participate in the shares, and the amount of capital subscribed by each company is 2 million-5 million yuan. All capital contributions shall be made in the form of currency, subject to the actual amount of capital contribution.

According to the announcement, Xiongan rare earth company lives in Xiongan, Hebei province, and its business scope includes research and development of rare earth materials and their application technology, technical consultation, technology exchange, technology transfer, achievement incubation, achievement evaluation, sales of rare earth products and chemical products (excluding dangerous chemicals), etc.

 

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