(Hong Kong, 10 November 2022) ?China Risun Group Limited (“China Risun”, or the “Group”,
stock code: 1907), a leading global integrated coke, coking chemicals and
refined chemicals producer and supplier and relevant operation management
services provider in China, has announced that it signed a strategic
cooperation agreement with Xiamen ITG Group Corp., Ltd. (“ITG”; stock code:
600755.SH) on 8 November. The two parties will commence in-depth cooperation in
the fields of coking coal and coke procurement and sales, thermal coal/gasified
coal/semi-coke procurement and sales, chemical products procurement and sales,
international marketing and investment and financing.
ITG is a core member of the Fortune Global
500-listed Xiamen ITG Holding Group Co., Ltd. and was listed on the Shanghai
Stock Exchange in 1996. Xiamen Guomao Qineng is a wholly-owned subsidiary of
ITG and one of the main business units of the energy and chemical segment of
the supply chain business. It primarily engages in the import and export,
re-export and domestic trade of thermal coal, coking coal and coke products,
with an annual business volume of approximately 20 million tonnes, ranking
first in China. Xiamen Guomao Qineng mainly provides comprehensive industry
services to domestic and foreign power groups, steel plants and coking plants.
Its domestic business boasts a footprint that spans the southeast coast, along
the Yangtze River, Shanxi and Inner Mongolia, while its export business covers
countries including Vietnam, South Korea and India.
In recent years, China Risun has established a
close and trustful partnership with ITG and its subsidiary Xiamen Guomao Qineng,
and has continued to deepen the scope and extent of cooperation. In the coal
coke field, the two parties have expanded from the original domestic trade
cooperation to import and export business cooperation, and from the original
single factory cooperation to multi-site and multi-factory cooperation. As for
chemicals, the two parties have been striving to explore new products and
gradually extend the upstream and downstream industrial chains by drawing upon
the experience gained.
Looking ahead, the two parties will combine
their respective strengths, specifically China Risun’s extensive experience in
the chemical industrial chains of coke, carbon materials, alcohol ammonia and
aromatic hydrocarbons, being the leader in the coking chemical and chemical
industry, and the supply chain management advantages of Xiamen Guomao Qineng in
the coal industrial chain. They will work closely together to promote the
transformation, upgrade and quality development of the energy and chemical
industry; linking the industry and creating value together.
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