Longbai Group's subsidiary, Baili Lianxin New Materials Company, increased its capital to 2.48 billion yuan, a growth of approximately 46%.

According to the Tianyancha App, recently, Henan Baili Lianxin New Materials Co., Ltd. underwent a business change, with the addition of China CITIC Financial Asset Management Co., Ltd., CCB Financial Asset Investment Co., Ltd., and Xin Yin Financial Asset Investment Co., Ltd. as shareholders. At the same time, the registered capital increased from 1.7 billion RMB to approximately 2.48 billion RMB, an increase of about 46%. Henan Baili Lianxin New Materials Co., Ltd. was established in May 2016, with Qi Manfu as the legal representative. Its business scope includes the production of chemical products, common non-ferrous metal smelting, mineral processing, etc. Shareholder information shows that the company is jointly held by Longbai Group and the above-mentioned new shareholders.