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China Risun Signs Strategic Cooperation Agreement With ITG

Copy From:Risum Author:whzx Date:2022/11/11 14:16:44

(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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