On September 19, Cloud Sea Metal released an announcement that the company has recently completed the business registration change of the company name "Nanjing Cloud Sea Special Metal Co., Ltd." and the registered capital, and obtained the "Business License". The controlling shareholder of the company has changed to Baosteel Metal, and the actual controller has changed to the State-owned Assets Supervision and Administration Commission of the State Council. Since September 20, 2023, the Chinese name of the company has been changed from "Nanjing Cloud Sea Special Metal Co., Ltd." to "Baowu Magnesium Technology Co., Ltd.", and the stock abbreviation has been changed from "Cloud Sea Metal" to "Baowu Magnesium Industry".