On November 6, the case of Henan Emerging Industry Investment Co., Ltd.'s acquisition of shares in Henan Guorong Electronic Technology Co., Ltd. was announced as a simple case involving the concentration of operators. Guorong Co., Ltd. produces materials for aluminum electrolytic capacitors such as electronic aluminum foil and electrode foil. Its 2025 annual report already included a Xinjiang electrode foil company in the scope of the merger. According to Tianyan Research, the acquirer Henan Emerging Industries Investment Co., Ltd. is wholly owned by Henan State-owned Capital Operation Group Co., Ltd. The target subsidiary Horgos Guorong Electronic Technology Co., Ltd. was established on September 22, 2025, and Guorong Co., Ltd. holds 100% of the shares.

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