2.37B to acquire 40% equity, after Guocheng Industrial becomes a wholly-owned subsidiary, the molybdenum mine rights are directly maximized, this round of industry consolidation is quite stable.

Guocheng Mining plans to acquire a 40% equity interest in Guocheng Industrial held by CITIC Trust for RMB 23.68 billion in cash, which will constitute a major asset restructuring. After the transaction is completed, Guocheng Industrial will become a wholly owned subsidiary of the listed company, increasing its equity share of molybdenum mine resource reserves and helping facilitate industrial integration and profitability as well as enhancing risk-resilience capabilities, thereby safeguarding the interests of all shareholders; the scope of its principal business remains unchanged before and after the transaction.