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According to Sinochem New Network, recently, Jinshi Resources acquired shares in Zhejiang Noah Fluorine Chemical Co., Ltd. (hereinafter referred to as Zhejiang Noah), becoming its second-largest shareholder. This partnership is based on the high level of complementarity between the two parties in the fluorine chemical industry chain, with the aim of strengthening resource integration and improving collaborative efficiency. It is understood that Zhejiang Noah has long been dedicated to the research, development, and production of fluorine-containing electronic chemicals. Its products cover high-end areas such as liquid-cooling fluorinated fluids, electronic cleaning agents, efficient and environmentally friendly fire extinguishing agents, as well as fluorine-containing materials for lithium batteries. Its clients include organizations in the fields of data centers, semiconductors, and new energy. As the listed company with the largest reserves of fluorite resources in China, Jinshi Resources controls fluorite minerals, which represent the starting point of the fluorine chemical industry chain; its mining capacity and resource reserves are among the best in the country. Through this strategic partnership, the two parties have achieved a powerful combination of \"resources\" and \"technology\". Industry experts say that, amid the ongoing tightening of environmental regulations and increased oversight of fluorspar resources, the fluorine chemicals industry is accelerating its transition toward a model driven by both resources and technology. Companies with a single business link face greater challenges, while those with the capability to coordinate across the entire supply chain hold a competitive advantage. Zhejiang Noah’s decision to bring in leading upstream enterprises as shareholders is an important step taken by the company to adapt to the trends in the industry and improve its own industrial chain structure.