On February 28, Wang Pingwei, Chairman and CEO of China Minmetals Resources Group Co., Ltd., organized a special meeting in Xinyu, Jiangxi, announcing that to meet the strategic development needs of the group, the company would rename and restructure its wholly-owned subsidiaries Jiangxi Dongpeng New Materials Co., Ltd. (hereinafter referred to as “Dongpeng New Materials”) and Jiangxi Chunpeng Lithium Co., Ltd. (hereinafter referred to as “Chunpeng Lithium”). Specifically, Dongpeng New Materials will be renamed China Minmetals Resources (Jiangxi) New Materials Co., Ltd. (hereinafter referred to as “China Minmetals New Materials”), and Chunpeng Lithium will be renamed China Minmetals Resources (Jiangxi) Lithium Co., Ltd. (hereinafter referred to as “China Minmetals Lithium”).
This business restructuring aims to further optimize the group's resource allocation, enhance market competitiveness, and better respond to industry changes and market challenges.
From an operational efficiency perspective, both Dongpeng New Materials and Chunpeng Lithium primarily produce lithium carbonate and lithium hydroxide, which are highly homogeneous products that are difficult to distinguish in the market. Homogeneous operations have resulted in overlapping management, production, and sales efforts. Additionally, Dongpeng New Materials’ rare light metals (cesium and rubidium) business constitutes a small proportion of its overall business, making it difficult to highlight its advantages. An adjustment is therefore necessary to emphasize the product positioning of rare light metals cesium and rubidium. After the renaming and business restructuring, the business segments will be clearer, promoting long-term business development. China Minmetals New Materials, building on its existing cesium and rubidium business, will be able to further expand into other minor metals, aiming to establish a professional and international new materials company focused on rare light metals. Meanwhile, China Minmetals Lithium, through the integration of existing capacity, personnel, production technology, and sales capabilities, will be able to further enhance R&D, improve the quality of lithium salt products, boost market competitiveness, and move towards becoming a globally recognized lithium salt producer.
From a brand building and market expansion perspective, the domestic market currently has well-known brands such as “Dongpeng Tiles” and “Dongpeng Special Drink,” which often cause confusion among domestic and foreign investors and partners over the “Dongpeng” name, leading to misunderstandings. China Minmetals Resources Group has already successfully established the “China Minmetals Resources” and “SINOMINE” brands in domestic and international markets. Unifying the company names will help strengthen the brand influence of China Minmetals Resources, elevate the market position of its new materials and lithium salt products, and lay a solid foundation for expanding into broader markets.
At the special meeting, Wang Pingwei elaborated on the latest direction of China Minmetals Resources Group’s strategic planning, emphasizing that this renaming and business restructuring is an important measure for the group to achieve strategic transformation and expand its business scope. He stated that through this adjustment, China Minmetals Resources Group will focus more on core businesses, integrate advantageous resources, enhance synergies, and lay a solid foundation for sustainable development. He mobilized all employees to actively support and participate in the strategic adjustment, meeting new challenges and opportunities with innovative thinking and enthusiasm.
Following this, the leaders of the two subsidiaries delivered speeches. They unanimously expressed their firm support for the group’s strategic decisions and pledged to fully complete the business restructuring. Although this adjustment presents certain challenges, it also brings new development opportunities for the subsidiaries. They stated that they will lead their teams to quickly adapt to the new business layout, strengthen internal management, improve operational efficiency, ensure a smooth transition, and contribute new and greater efforts to the overall development of the group.