Sichuan Development Lomon Co., Ltd. (SZSE:002312) signed an agreement to acquire Sichuan Development Tianrui Mining Co., Ltd. from Sichuan Development Mining Group Co., Ltd. and Sichuan Provincial Salt Corp. for CNY 1.4 billion on August 1, 2021. Sichuan Development Lomon will acquire 99.687082 million shares of Sichuan Development Mining Group and 24.92177 million shares of Sichuan Provincial Salt. As per terms, Sichuan Development Lomon Co., Ltd. shall pay consideration in new shares at an issue price of CNY 7.67 per share. Sichuan Development Mining Group Co., Ltd. will sell 80% and Sichuan Provincial Salt Corp. will sell 20%. On June 30, 2021, total asset and net asset of Sichuan Development Tianrui Mining Co was CNY 1.73 billion and CNY 1.06 billion respectively. The transaction has been approved in the 5th Meeting of 6th Directorate of Sichuan Development Lomon and by Sichuan Development Mining Group Co., Ltd. and Sichuan Provincial Salt Corp.'s respective internal decision-making institutions. and is subjected to the second approval of the Sichuan Development Lomon Co., Ltd. directorate after the target assets' audit and assessment work are completed; its shareholders approval, The state-owned assets supervision and administration department or its authorized agency's filing and approval of the target assets' assessment reports; The state-owned assets supervision and administration department or its authorized agency's approval; CSRC's approval and other necessary approvals. The transaction is approved by the shareholders of Sichuan Development. On June 9, 2022, the China Securities Regulatory Commission's Listed Company Mergers and Acquisitions Review Committee held the 8th M&A and Restructuring Committee working meeting in 2022, and reviewed the transaction. According to the review results of the meeting, the transaction was approved unconditionally. As of June 23, 2022, Sichuan Development Lomon Co., Ltd. (SZSE:002312) received the "On Approval of Sichuan Development Lomon Co., Ltd. plan to Issue Shares for the transaction from CSRC. As of July 11, 2022, Sichuan Huaxin (Group) Accounting Firm (Special General Partnership) issued the " Capital Verification Report" ( (2022) No. 0061).


Huatai United Securities Co., Ltd. acted as financial advisor, Tahota Law Firm acted as legal advisor and Sichuan Huaxin (Group) Accounting Firm (Special General Partnership) acted as accountant for Sichuan Development.

Sichuan Development Lomon Co., Ltd. (SZSE:002312) completed the acquisition of Sichuan Development Tianrui Mining Co., Ltd. from Sichuan Development Mining Group Co., Ltd. and Sichuan Provincial Salt Corp. on June 27, 2022.