Xiamen Tungsten Invests 26.52 Million Yuan to Acquire 1.3483% Stake in Jiangxi Giantong

Stock News07-24

Xiamen Tungsten Co.,Ltd. (600549.SH) has announced its plan to invest 26.5174 million yuan to acquire a 1.3483% equity interest in Jiangxi Giantong Industrial Co., Ltd. (referred to as "Jiangxi Giantong") from Jiangxi Zhuoxin Mining Co., Ltd. (referred to as "Jiangxi Zhuoxin").

Recently, the company signed a Share Transfer Agreement and its Supplemental Agreement with Jiangxi Zhuoxin and Jiangxi Giantong. Upon completion of the transaction, Xiamen Tungsten will directly hold a 1.3483% stake in Jiangxi Giantong.

As the company's production capacity in downstream deep processing and application areas of the tungsten industry chain—such as cemented carbide, cutting tools, and tungsten wire—continues to expand, its demand for tungsten resources has been increasing year by year. By initially acquiring the 1.3483% stake in Jiangxi Giantong from Jiangxi Zhuoxin, the company aims to facilitate further progress in acquiring related equity in Jiangxi Giantong. This move will help strengthen the company's tungsten resource security, support its sustainable development, and align with its long-term strategic planning.

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