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Anning Co., Ltd. intends to embark on a merger and restructuring initiative involving Jingzhi Mineral Resources, Hongxin Industry and Trade, and Liyu Mining, through a series of cash payments totaling RMB 6.508 billion. The objective is to acquire 100% equity in these three companies. These entities collectively hold the mining rights to the Pantiantian Iron Mine and specialize in the extraction, processing, and sale of vanadium-titanium magnetite, offering products such as titanium concentrate and vanadium-titanium iron concentrate. Upon the successful conclusion of this transaction, Anning Co., Ltd. will secure a controlling interest in these enterprises, anticipated to result in substantial enhancements to its resource base, business scale, market presence, and profitability.
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