Xiamen Tungsten Industry's subsidiary has established a new material technology company.

According to the Qichacha APP, recently, Guangde Honglu New Materials Technology Co., Ltd. was established, with Li Mingqi as the legal representative and a registered capital of 10 million RMB. Its business scope includes electroplating processing, manufacturing and sales of metal wire ropes and their products, and processing of non-ferrous metal rolling. Shareholder penetration data on Qichacha shows that the company is fully owned by Xiamen Tungsten Co., Ltd.'s subsidiary Xiamen Honglu Tungsten and Molybdenum Industrial Co., Ltd.