Xiamen Tungsten Co., Ltd. (688778.SH) plans to invest 60 million yuan to establish a subsidiary Xiamen Tungsten Recycling.

Zhitong Finance APP News, Xiamen Tungsten New Energy (688778.SH) announced that, in order to implement the development strategy of "expanding secondary resource recovery capacity and expanding recycling business", the company plans to invest 60 million yuan with its own or self-raised funds to establish a wholly-owned subsidiary Xiamen Tungsten Recycling Technology Co., Ltd. (tentative name) (referred to as "Xiamen Tungsten Recycling", the final name shall be subject to the approval of the industrial and commercial registration).