Xiamen Tungsten Plans to Acquire 30.1683% of Jiangxi Jutong for RMB593 Million in Cash

English summary

Xiamen Tungsten announced it plans to acquire 30.1683% equity of Jiangxi Jutong for RMB593 million in cash from related parties. The related-party transaction will be submitted to shareholders for approval. After completion, the company will hold 31.5166% directly and consolidate Jiangxi Jutong as a controlled entity. Jiangxi Jutong is not yet in production, so no significant short-term impact on results is expected.