China Rare Earth Group has established a new subsidiary, Zhongxi (Leshan) New Materials Co., Ltd., with a registered capital of 500 million yuan (approximately $69 million), according to 36Kr citing Tianyancha. The company, with legal representative Yang Zhenhai, is jointly held by China Rare Earth Group Industrial Development Co., Ltd. and Leshan Shiyize Enterprise Management Co., Ltd. Its business scope includes rare earth metal smelting, rare earth functional materials sales, and electronic specialty materials manufacturing.