Xiamen Tungsten to list XTC New Energy on SSE Star Market
2020-03-16 17:53:30 [Print]
On the evening of March 13, Xiamen Tungsten announced that it planned to list its controlled subsidiary XTC New Energy on the Star Market of Shanghai Stock Exchange (SSE), when the subsidiary is changed into an incorporated company and spun off; when the spin-off process is completed, Xiamen Tungsten will still hold an unchanged stake in and controlling on the subsidiary.
The spin-off process will help XTC New Energy further focus upon its major businesses; besides tungsten and molybdenum material and rare earth businesses, XTC New Energy will function as an independent listed platform for Li-ion battery cathode material business; being listed on the SSE Star Market will help it enhance profitability and comprehensive competitiveness in the Li-ion battery cathode material industry, and help it grow into a new energy material production base with sharp competitive edges in the international market.
The spin-off process will help XTC New Energy further focus upon its major businesses; besides tungsten and molybdenum material and rare earth businesses, XTC New Energy will function as an independent listed platform for Li-ion battery cathode material business; being listed on the SSE Star Market will help it enhance profitability and comprehensive competitiveness in the Li-ion battery cathode material industry, and help it grow into a new energy material production base with sharp competitive edges in the international market.
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