CNNC Titanium Dioxide announced on October 20 that due to strategic development needs, the company plans to jointly fund the establishment of Xinjiang Desheng New Material Technology Co., Ltd. (tentative name), with Xinjiang Xiangsheng New Material Technology Co., Ltd. and Hami Ruitai Mining Co., Ltd. The final industrial and commercial registration shall prevail, ("Xinjiang Desheng"), with a registered capital of 169.88 million yuan (USD25.53 million), of which the company invested 86.638 million yuan (USD13.02 million), accounting for 51% of the registered capital; Xinjiang Xiangsheng invested 76.446 million yuan (USD11.49 million), accounting for 45% of the registered capital; Hami Rui Thailand invested 6.7952 million yuan (USD1.02 million), accounting for 4% of the registered capital. Within 30 days after the registration of the new company, each shareholder should put the actual paid-in capital in place.

CNNC Titanium Dioxide stated that the establishment of the new company has positive significance in terms of strategic development, resource integration, industrial layout and enhancement of comprehensive competitiveness: it forms a stable and high-quality supply source for the company's raw material and optimizes the company's industrial chain layout; reduces the company's production costs and helps achieve profit growth.