China News Service, September 21. On the evening of the 20th, Minmetals Rare Earth (000831) issued an announcement to change the company name from the original "Minmetals Rare Earth Co., Ltd." to "China Rare Earth Group Resources Technology Co., Ltd.", the stock abbreviation Changed from "Minmetals Rare Earth" to "China Rare Earth".

Announcement screenshot

　　The announcement explains the reasons for the change of the company name and securities abbreviation. In order to further deepen the reform of state-owned enterprises, optimize resource allocation, and promote professional integration, after research by the State-owned Assets Supervision and Administration Commission of the State Council and reporting to the State Council for approval, the newly established China Rare Earth Group Co., Ltd. (hereinafter referred to as “China Rare Earth Group”) "China Rare Earth Group"), and the shares of China Rare Earth Corporation Limited held by Aluminum Corporation of China Limited, Minmetals Rare Earth Corporation Limited and Minmetals Rare Earth Group Corporation Limited held by subsidiaries of China Minmetals Corporation The equity of the company, as well as the equity of China Southern Rare Earth Group Co., Ltd., Jiangxi Ganzhou Rare Metal Exchange Co., Ltd. and Ganzhou Zhonglan Rare Earth New Material Technology Co., Ltd. held by Ganzhou Rare Earth Group Co., Ltd. group.

　　It is understood that China Rare Earth Group currently directly holds 157,924,751 shares of Minmetals Rare Earth (accounting for 16.10% of the company's total share capital), and holds 235,228,660 shares of Minmetals Rare Earth (accounting for 16.10% of the company's total share capital) through its wholly-owned subsidiary Minmetals Rare Earth Group 23.98%), holding a total of 393,153,411 shares of Minmetals Rare Earth (accounting for 40.08% of the company's total share capital).

The actual controller of the company has been changed from China Minmetals Group Co., Ltd. to China Rare Earth Group; the final actual controller is still the State-owned Assets Supervision and Administration Commission of the State Council.

　　Minmetals Rare Earth stated that the company plans to change its name and stock abbreviation in order to effectively implement the high-quality development requirements of the rare earth industry and create a sustainable brand effect for the company.

This change of company name and securities abbreviation is in line with the company's business essence and core business development plan, which will help enhance the company's brand image and market influence, and promote the company's high-quality development.

　　At present, the application for the proposed change of company name and stock abbreviation has been approved by Shenzhen Stock Exchange without objection.

The company's stock code "000831" remains unchanged.

　　The announcement shows that the proposed change of company name, securities abbreviation and the revision of the "Articles of Association" still need to be submitted to the company's general meeting of shareholders for deliberation, and the general meeting of shareholders should authorize the company's management to go through the registration procedures and filing of changes; the company to be changed this time. The name has obtained the "Notice of Reservation of Change of Enterprise Name" issued by the market supervision and administration department [(Guo) Ming Nei Bian Zi [2022] No. 35897], and the name approved and registered by the registration authority shall prevail; The matter is still subject to the final approval of the Shenzhen Stock Exchange.

　　Minmetals Rare Earth reminds that there are still uncertainties in the above matters, and investors are advised to pay attention to investment risks.

Screenshot from Flush

　　Affected by this news, in the morning of the 21st, Minmetals Rare Earth opened up sharply, opening 8.24% higher.

The daily limit in the afternoon was reported at 27.78 yuan per share.

The rare earth sector also rose sharply, with northern rare earths up more than 5%.

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