Chengtun Mining Group Co., Ltd. (SHSE:600711) agreed to acquire additional 35% stake in Chengtun New Materials Co., Ltd from Allied Century Development Co., Ltd. for approximately CNY 490 million on July 1, 2023. Chengtun New Materials Co., Ltd reported Total assets worth CNY 3.27 billion, EBIT of CNY 4.32 billion, Net Income of approximately CNY 250 million and Total Common equity of approximately CNY 370 million on December 31, 2022. Transaction was already approved by Chengtun Mining Group Board of director's.