Anyuan Coal swaps assets, changes name amid profit plunge

Anyuan Coal Industry Group announced a proposed name change to Jiangxi Tungsten Rare And Precious Equipment Co., reflecting a strategic shift following a major asset swap.

The company is exchanging coal-related assets and liabilities for a 57% stake in Ganzhou Golden Ring Magnetic Separation Technology & Equipment Co.

Anyuan Coal reported net profit decreased by 184.8 million yuan for the first half of 2025, with revenues down 35.3% to 1.72 billion yuan due to market downturn.