On May 17, 2022, JL MAG, a company invested by CR Capital Management, announced that JL Mag Rare-Earth Co.,Ltd. (Baotou), a wholly-owned subsidiary of the company, signed a Strategic Cooperation Framework Agreement with Northern Branch of CR Power Investment Co., Ltd.
The two parties intend to jointly build a green and low-carbon energy system to promote energy optimization and upgrading through cooperation; based on the development and construction of new energy projects, to promote the formation of a variety of energy sources that are synergistic, complementary, comprehensively utilized, and intensive and efficient; and to build a green, friendly, intelligent and innovative modern energy ecosystem, maximizing the interests of all parties.
The cooperation projects include but are not limited to the following: the guaranteed grid-connected centralized new energy project; renewable energy replacement in industrial parks; supporting new energy of thermal power flexibility transformation; decentralized wind power project; permanent magnet motor transformation.
As permanent magnet products are widely used and motors drive the world, the company continues to grow in ESG-related fields.
The products of JL MAG are widely used in various fields, including new energy vehicles and auto parts, energy-saving inverter air conditioners, wind power generation, 3C, industrial energy-saving motors, energy-saving elevators. JL MAG have established long-term and stable cooperative relations with leading enterprises in many fields in China and outside. With the promise of "creating a better life with rare earths", the company is committed to achieving carbon peaking and carbon neutrality goals in China and around the world by producing and providing high-performance NdFeB permanent magnet materials.
Make good use of industrial investment tools to promote the Group's innovation and development during the 14th Five-Year Plan
CR Capital Management is a private equity investment business unit in the China Resources Group. It is the only operation and management platform for industrial funds in the Group, as well as a bridge for industry-finance collaboration and a promoter of innovation and development. CR Capital Management insists on investing with industrial thinking, and takes the Group's strategy as the guidelines for investment. The company is also committed to promoting innovation through investment, and using investment to link innovative resources to help the transformation and upgrading of the Group's traditional industries. It looks for mature technologies and products in the market, as well as excellent teams and talents, to reduce the R&D cycle and investment of the Group's industry in technology and products and increase cooperation opportunities, boosting the development of the industry.
As the Group's only industry fund platform, CR Capital Management clarified the functional positioning of industry discovery and formulated a clear investment direction during the "14th Five-Year Plan" period. In January 2022, in the fields of new materials and carbon peaking and carbon neutrality, China Resources Guoxin, an investment platform managed by CR Capital Management, successfully entered the core application material market in the fields of new energy and energy conservation and environmental protection by taking a stake in JL MAG, a global leader in high-performance permanent magnet materials. This further enriches the Group's investment layout under core strategies such as new energy and carbon peaking and carbon neutrality goals, contributing capital wisdom to the transformation and upgrading of the Group's traditional industries.
