Ningde Times made an announcement in a statement, revealing its strategic move to venture into the upstream realm of key raw materials and carve out an integrated industrial chain edge. The company intends to establish Times Resources Group (Xiamen) Co., Ltd. (subject to final approval, this is the tentative name), a specialized investment, operation, and management platform dedicated to the realm of new energy minerals. This platform will be tailored to align with the company's battery industry blueprint and requirements, consolidating its existing mining assets. Simultaneously, it will embark on an active quest to expand high-caliber mineral resource projects, both within China and on the global stage, thereby fortifying the supply of raw materials for its core business and safeguarding the resilience of its industrial chain.

The proposed registered capital for Times Resources Group stands at a staggering 30 billion yuan. Ningde Times plans to inject this capital through a combination of monetary contributions and equity stakes. The cash infusion will originate from the company's internal coffers and self-raised funds, while the equity component will encompass stakes held by the company in its pertinent affiliated holding subsidiaries and joint-stock enterprises.