Chengtun Mining Group Co., Ltd. intends to sign equity transfer agreement to acquire Zhonghe Nickel Industry Co., Ltd. from Chengdu Dianye Co., Ltd. for CNY 191 million.

Chengtun Mining Group Co., Ltd. (SHSE:600711) intends to sign equity transfer agreement to acquire Zhonghe Nickel Industry Co., Ltd. from Chengdu Dianye Co., Ltd. for CNY 191 million on December 15, 2022. Chengtun Mining Group will pay 50% of purchase price within 7 days from the date of signing of agreement and remaining 50% will be paid within 7 days after the completion of the industrial and commercial registration of equity transfer. Chengtun Mining Group board approved the deal.

For the period ended August 31, 2022, Zhonghe Nickel Industry reported total assets of approximately CNY 500 million and net assets of approximately CNY 110 million.