Chifeng Jilong Gold Mining Co.,Ltd. (SHSE : 600988) agreed to acquire 51% stake in Kunming New Ganges Mining Co., Ltd. from Liu Xin, Li Yuanyuan and Wang Zhonghua for CNY 61.2 million on December 30, 2022. Post acquisition, Liu Xin will hold 30% stake, Li Yuanyuan will hold 12% stake and Yunnan Yuanhao will hold 7% stake in Kunming New Ganges. Transaction has been reviewed and approved by Chifeng Jilong Gold's board of directors.

For the period November 30, 2022, Kunming New Ganges had CNY 39.3255 million of total assets and CNY 38.9758 million of net assets.