en.Wedoany.com Reported - Contemporary Amperex Technology Co., Limited (CATL), one of the world's largest electric vehicle battery manufacturers, recently announced plans to invest in establishing a wholly-owned subsidiary named "Times Resources Group (Xiamen) Co., Ltd." with a registered capital of 30 billion yuan (approximately $44 billion) to expand its upstream mineral resources business.
According to documents filed by CATL with the Shenzhen Stock Exchange, the newly established wholly-owned subsidiary is positioned as a "professional investment, operation, and management platform in the field of new energy minerals." The company intends to contribute capital through monetary funds and equity, with the cash portion coming from its own and raised funds, and the equity portion consisting of shares held in relevant subsidiary and affiliated companies. This investment platform will integrate existing mining assets and seek high-quality mineral projects domestically and internationally to ensure a stable supply of raw materials for its main business. Currently, CATL owns and operates lithium assets in China, including the Jianxiawo lepidolite mine in Yichun City, Jiangxi Province. Mining operations at this mine were suspended after its mining license expired on August 9, 2025, and production is expected to resume around the 2026 Chinese New Year.
In recent years, the prices and supply risks of battery raw materials such as lithium, nickel, and cobalt have continued to rise. According to market data, lithium prices have increased by approximately 140% over the past year, while nickel and cobalt prices have also risen due to export restrictions from Indonesia and the Democratic Republic of the Congo. Previously, CATL primarily managed lithium cost and supply risks through mine ownership, equity investments, and long-term supply agreements. The establishment of this specialized mining investment platform marks a further deepening of its strategy in the upstream resources sector.
On April 7, 2026, insiders at CATL confirmed that the company has formally hired Chen Jinghe, founder and former chairman of Zijin Mining Group Co., Ltd., as an advisor for its mining department to assist in expanding the mineral supply chain business. Chen Jinghe founded Zijin Mining in 1993 and led the enterprise from a small to medium-sized mine in Fujian Province to a multinational mining group. In November 2025, Chen resigned as chairman of Zijin Mining due to age and family reasons and officially retired on January 1, 2026. Three months after retirement, he accepted CATL's invitation to return, taking on the role of mining advisor.
On the same day, CATL released its first-quarter performance report for 2025. The data shows that the company's net profit for the first quarter of 2025 increased by 49% year-on-year, reaching 20.7 billion yuan, exceeding analysts' expectations. For the full year of 2025, the company, headquartered in Ningde City, Fujian Province, achieved a net profit of 72.2 billion yuan, a 42% increase compared to the previous year.
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