Long Yuli: It is proposed to set up a holding subsidiary of 700 million yuan to build a titanium industry base in the west.

Recently, Long Yuli announced that Yunnan Guo titanium Co., Ltd. (hereinafter referred to as "Yunnan Guo Titanium"), a controlling subsidiary of the company, intends to invest 700 million yuan to set up Gansu Guo Titanium Co., Ltd. (hereinafter referred to as "Gansu Guo Titanium").
of 700 million yuan, registered in Jinchang City, Gansu Province, the legal representative for Chen established.
Long Yuli said that titanium has a small density, high strength, low thermal conductivity, high temperature and low temperature performance, strong corrosion resistance, good biological compatibness and other outstanding characteristics, is widely used in aviation, aerospace, ships, weapons, biomedicine, chemical metallurgy, marine engineering, sports and leisure and other fields, known as "space metals," "marine metals," "modern metals" and "strategic metals Titanium industry is the basic industry of national economic development and industrial upgrading, which is of strategic significance to the development of national defense, economy and science and technology.
In this context, in order to seize the development opportunities of the titanium industry, Yunnan Guotium established Gansu National Titanium, relying on the company and its subsidiaries already have sponge titanium, high titanium slag and large-scale "boiling furnace" chlorination technology, make full use of Gansu local industrial chain gathering and supporting advantages, build a competitive and characteristic western titanium industry base, is conducive to the company to further improve the layout of the titanium industry, improve the company's core competitiveness and profitability, in line with the company's development strategy and the interests of all shareholders.
this investment by Yunnan Guotium with its own capital investment, will not adversely affect the company and Yunnan Guotium financial and operating conditions, there is no harm to the interests of the company and all shareholders.
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