CNNC TD adjusts ownership structure of subsidiaries 01-04-2024

Summary: In late Nov. 2023, CNNC TD announced that it planned to adjust ownership structure of Hecheng Titanium and Goldstar Titanium.

On 25 Nov., 2023, CNNC Hua Yuan Titanium Dioxide Co., Ltd. (CNNC TD) announced that the company intended to transfer 100% shares of Gansu Hecheng Titanium Industry Co., Ltd. (Hecheng Titanium) to its wholly-owned subsidiary, Anhui Goldstar Titanium Dioxide (Group) Co., Ltd. (Goldstar Titanium) out of operation and development needs. The base date of this transfer is 30 Sept., 2023. Afterwards, Goldstar Titanium will directly hold 100% shares of Hecheng Titanium and Hecheng Titanium will become the wholly-owned sub-subsidiary of CNNC TD.


Hecheng Titanium was founded on 18 Dec., 2014 with registered capital of USD28.13 million (RMB200.00 million). The company mainly engages in production of titanium dioxide (TiO2) and ferrous sulphate (FeSO4), R&D, production and design of chemical new products, technical development, consultation, transfer, import and export, etc.


Financial situation of Hecheng Titanium:

  • In 2022, Hecheng Titanium achieved revenues of USD0.15 billion (RMB1.09 billion), total profits of USD5.18 million (RMB36.85 million), and net profits of USD3.86 million (RMB27.47 million);
  • In Jan.–Sept. 2023, Hecheng Titanium's revenues, total profits, and net profits reached USD80.59 million (RMB573.04 million), -USD4.38 million (-RMB31.16 million), and -USD3.31 million (-RMB23.50 million) respectively.

    CNNC TD stated that this adjustment of ownership structure will help the company integrate internal resources, optimise business structure, improve management and operation efficiency, and reduce operation costs. Besides, it is consistent with the company's overall strategic planning and is conductive to the company's long-term development and business layout.


    More information can be found at CCM Titanium Dioxide China Monthly Report.

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