Zhitong Finance App News, New Era Energy (00166) issued an announcement. The board of directors proposed changing the company's English name from “New Times Energy Corporation Limited” to “New Times Corporation Limited” and changing the company's Chinese name from “New Era Energy Co., Ltd.” to “New Era Group Holdings Co., Ltd.”
New Era Energy Co., Ltd. is an investment holding company that engages in energy transition business with the goal of net zero. The Group also owns upstream oil and gas assets for exploration, development and production in Canada and South America. Since 2020, the Group has been active in physical precious metals (mainly gold and silver) trading and is currently building a precious metals refinery with an annual production capacity of 50 metric tons.
As the world accelerates towards a net-zero/low-carbon economy, the Group embarks on its own transformation journey. According to the Group's vision, it will integrate complementary environmental businesses to create a circular economy at Discovery Park in Campbell River, BC, Canada to achieve sustainable development.
The proposed change in the company name is to better outline the Group's diversified business scope and future expansion plans. Accordingly, the Board believes that the proposed new corporate image is in the best interests of the company and its shareholders.