Explanation of the Board of Directors Regarding the Related Party Transaction in This Transaction

✨ AI Summary

The announcement details that Guocheng Mining Co., Ltd. plans to acquire a 40% stake in Inner Mongolia Guocheng Industrial Co., Ltd. from CITIC Trust through cash payment. Following the transaction, Guocheng Industrial will become a wholly-owned subsidiary. The transaction is classified as a related party transaction due to the controlling relationship with Guocheng Group, the major shareholder. Relevant directors and shareholders abstained from voting during the approval process.

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