Anshan Heavy Duty Mining Machinery Co., Ltd. (SZSE:002667) signed a Cash Purchase of Assets Intention Agreement to acquire 51% stake in Jiangxi Yifeng Tong´an Mineral Products Development Co., Ltd. from Gongqingcheng Qiangqiang Investment Partnership Enterprise (Limited Partnership) on August 5, 2021. Currently, Jiangxi Yifeng Tong´an Mineral Products Development Co., Ltd. is held up to 51% by Gongqingcheng Qiangqiang, 32.83% by Zhang Qiangliang and 16.17% by Zhang Hongbin. Anshan Heavy Duty Mining Machinery Co., Ltd. will use its own funds to finance the deal. The New Intent Agreement signed this time is the initial intention of the parties to the transaction and is still in the planning stage. As per terms the transaction is conditional upon a third-party agency conducting due diligence and a formal agreement signing on this basis to determine the transaction price, terms and details. The subsequent signing of a formal agreement still needs to be submitted to the general meeting of shareholders of Anshan Heavy Duty Mining Machinery Co., Ltd. for deliberation.