Overview of the Restructuring
Before this transaction, the listed company held a 60% stake in Guocheng Industrial. In this transaction, the listed company intends to acquire a 40% stake in Inner Mongolia Guocheng Industrial Co., Ltd. held by CITIC Trust Co., Ltd. (representing the CITIC Trust - Xinhua No. 57 Equity Trust Plan) through cash payment. Upon completion of this transaction, Inner Mongolia Guocheng will become a wholly-owned subsidiary of the listed company.
Basis for Major Asset Restructuring
The net assets and operating income of the target company exceed 50% of the corresponding indicators of the listed company, meeting the standards for major asset restructuring as stipulated in Article 12 of the Restructuring Management Measures.
Transaction Summary
In this transaction, Guocheng Mining plans to purchase a 40% stake in Inner Mongolia Guocheng Industrial Co., Ltd. from CITIC Trust Co., Ltd. for a transaction price of CNY 236.8 million. Upon completion of this transaction, Guocheng Industrial will become a wholly-owned subsidiary of the listed company.