Jinzhou Jixiang Molybdenum Co., Ltd. (SHSE:603399) signed a restructuring intent agreement to acquire 83.12% stake in Xiamen Many Idea Interactive Co.Ltd from group of shareholders on March 1, 2021. Under the terms of transactions, Jinzhou Jixiang Molybdenum will acquire 42.29 million shares and will pay 30% of consideration in cash and 70% by issuing his shares. Jinzhou Jixiang Molybdenum Co., Ltd. fund the transaction through private placement. The specific ratio of the share consideration and the cash consideration obtained by each counterparty will be negotiated and determined by the parties in the formal agreement. After friendly negotiation, the issuance price of shares to purchase assets in this issuance of shares is CNY 4.54 per share. The final number of shares issued to the counterparty and the amount of cash paid will be disclosed in the restructuring report. As of March 10, 2021, the transaction had obtained approval from counterparty and approval from Jinzhou Jixiang Molybdenum Co., Ltd. Board as well. After the completion of the audit and evaluation of relevant assets of the transaction, the listed company will convene the Board of Directors to review and approve the transaction plan and general meeting of shareholders of the listed company will review and approve the transaction plan. China Securities Regulatory Commission needs to approve the transaction plan.