(Hong Kong – 7 Sep, 2024) China Risun Group Limited(“China Risun” or “the Group”) signed an agreement with or Xiamen International Trade Group ("Xiamen ITG Holding Group” or “Xiamen ITG”) on September 4 to form a joint venture, aiming to stabilize the supply and demand of coking coal and coke and explore full industry chain cooperation in the coal and coking industry.
This initiative is another significant step for Risun Group to strengthen its coal and coking industry chain, supporting its national and global business expansion. Leveraging the industry experience and strong capabilities of China Risun and Xiaman ITG in resources, production, supply chain, and channels, the joint venture will initially focus on acquiring upstream resources in the industry chain to form stable procurement and sales channels, thus connecting the entire coal and coking industry chain. Furthermore, based on the foundation of cooperation in industrial operation, digital transformation, and international development, the venture will explore opportunities in chemical product businesses, enhance digital cooperation projects, and expand into overseas markets.
Both parties expressed that China Risun and Xiamen ITG share highly aligned strategic goals, risk control philosophies, channel sharing, and overseas expansion strategies, with full mutual trust. This joint venture marks a significant milestone in merging both companies' supply chain and industry chain advantages, bringing more diversified special projects and broader growth opportunities. In the future, China Risun, leveraging its leading industry scale and integrating the Group's global industry chain, supply chain, operation management system, extensive industry experience, customer service system, stringent business management loop, first-class energy-saving and emission-reduction technology, and advanced R&D innovation capabilities, will collaborate with Xiamen ITG to maximize the advantages of the joint venture. Together, China Risun and Xiamen ITG will lead the high-quality development of the coal and coking industry, while deepening strategic partnership comprehensively.
