China Rare Earth Group Co., Ltd. and China Rare Earth Group Co., Ltd. completed the acquisition of 43.72% stake in Grirem Advanced Materials Co., Ltd. from Grinm Advanced Materials Co., Ltd..
March 04, 2024
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China Rare Earth Group Co., Ltd. and China Rare Earth Group Co., Ltd. entered into an agreement to acquire 43.72% stake in Grirem Advanced Materials Co., Ltd. from Grinm Advanced Materials Co., Ltd. (SHSE:600206) for CNY 518 million on May 25, 2023. On May 25, 2023, the 23rd session of the company?s 8th directorate approved the transfer. For the period ended March 31, 2023, Total Assets were of CNY 2 billion and Net Assets were of CNY 1.28 billion.
China Rare Earth Group Co., Ltd. and China Rare Earth Group Co., Ltd. completed the acquisition of 43.72% stake in Grirem Advanced Materials Co., Ltd. from Grinm Advanced Materials Co., Ltd. (SHSE:600206) on March 5, 2024.
Grinm Advanced Materials Co Ltd is a China-based company principally engaged in the production and sales of high-purity metal targets, rare earth materials, special infrared optical and optoelectronic materials, and biomedical materials. The Company operates its businesses through five segments. The High-purity/Ultra-high-purity Metal Materials segment is engaged in the production of platinum group, thin film materials, precious metals, non-ferrous metals and high-end manufacturing products. The Rare Earth Materials segment is engaged in the production of rare earth materials. The Infrared Optics/Optical Fiber Optoelectronic Materials segment is engaged in the production of infrared optics and optical fiber optoelectronic materials. The Medical Device Materials segment is engaged in the production of medical device materials. The Other segments is engaged in investment management business. The Company mainly operates its businesses in the domestic market and overseas markets.
China Rare Earth Group Co., Ltd. and China Rare Earth Group Co., Ltd. completed the acquisition of 43.72% stake in Grirem Advanced Materials Co., Ltd. from Grinm Advanced Materials Co., Ltd..
GRINM ADVANCED MATERIALS CO., LTD. 
