Xiamen Tungsten: Plans to acquire a 30.1683% stake in Jiangxi Jutong

2026-04-03 00:49:21

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Xiamen Tungsten Industry Co., Ltd. issued an announcement. The company, together with Fujian Provincial Industrial Holding Group Co., Ltd. and Jiangxi Tungsten Holding Group Co., Ltd., signed a trilateral “Cooperation Agreement,” with plans to acquire 30.1683% of the equity interest in Jiangxi Jutong Industrial Co., Ltd. The transaction price for this equity deal is based on the target company’s total shareholders’ equity value of approximately RMB 1.966 billion as reflected in the “Asset Valuation Report (Draft)” issued by a third-party valuation institution; the final determination will be based on the valuation results reviewed and filed by the Fujian Provincial SASAC. The target company and some of its shareholders are related parties of the company. The equity acquisition is still in the planning stage, and the transaction plan still needs to be further negotiated and determined with the target company and other shareholders.

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