Zhongyuan New Materials announced that its wholly-owned subsidiary Wuhu Baxing Metal Co., Ltd. no longer has actual operating business, and the company has decided to deregister it, with the relevant deregistration registration procedures recently completed. Wuhu Baxing had a registered capital of 10 million yuan and was established on November 10, 2023. Its business scope included the sale of metal materials and metal products. In fiscal year 2025, its operating revenue was approximately 316 million yuan, with a net loss of approximately 5.96 million yuan. From January to March 2026, it had no operating revenue and net profit was zero. The company stated that this move is intended to optimize resource allocation and asset structure, reduce management costs, and improve operational efficiency.
Anhui Zhongyuan New Materials Co LtdDeregistration of loss-making subsidiary to optimize resources, but impact on overall operations unclear.
