Anhui Fengxing Wear Resistant Materials Co., Ltd. (SZSE:002760) signed letter of intent to acquire 60% stake in Jiangxi Runpeng Mining Development Co., Ltd. from Ganzhou Depeng Investment Management Co., Ltd. and Chen Jianian on January 7, 2022. The transaction is planned to be carried out in cash. Prior to transaction, Jiangxi Runpeng Mining Development Co., Ltd. is held by Ganzhou Depeng Investment Management (38.25% stake) and Chen Jianian (38.25% stake).

Post transaction, Jiangxi Runpeng Mining Development Co., Ltd. is held by Ganzhou Depeng Investment Management (5% stake), Chen Jianian (10% stake) and Anhui Fengxing Wear Resistant Materials (60% stake). As of December 31, 2021, Jiangxi Runpeng Mining Development Co., Ltd. had total assets of CNY 623 million and net assets of CNY 341 million. For the year ending December 31, 2021, Jiangxi Runpeng Mining Development Co., Ltd. reported EBIT of CNY 264 million and net profit of CNY 87 million.