Fuda Alloy Materials Co.,Ltd (SHSE:603045) agreed to acquire Kaiman Aluminum (Sanmenxia) Co., Ltd. from a group of shareholders for CNY 22.2 billion on October 21, 2021. As per the terms, Fuda Alloy Materials will issue 1,211,843,194 shares. Kaiman Aluminum reported total assets of CNY 3.5 million and net assets of CNY 1 million for June 30, 2021. The transaction is subject to approval of shareholders of Fuda Alloy Materials Co.,Ltd, review of the concentration of undertakings by the anti-monopoly authority and China Securities Regulatory Commission. As of May 5, 2022, Transaction has been approved by the shareholders of Fuda Alloy Materials Co.,Ltd. On May 10, 2022, this transaction received the ?Decision on No Further Review of Anti-monopoly Review on Concentration of Business Operators? issued by the State Administration for Market Regulation ([2022] No. 295), It was decided not to carry out further review of this transaction, and the concentration can be implemented from now on. As on November 15, 2022, the forty-first interim meeting of the sixth session of the Board of Directors of Fuda Alloy reviewed and approved the transaction. On September 13, 2022, the 39th session of the company?s 6th directorate approved this reorganization report (revised) .The transaction has been approved by Board of Director of Fuda Alloy Materials, shareholders of Sanmenxia Aluminum, Counter parties? internal decision making committee. On November 30, 2022, the Merger, Acquisition and Reorganization Examination Committee of the Listed Company of CSRC held the 22nd work meeting for 2022, reviewed the company?s major asset exchange and acquisition of asset through share issuance and raising of supporting funds transaction. Based on the review results, the company?s reorganization was not approved. As of December 14, 2022, the transaction has been denied approval by China Securities Regulatory Commission and the directors have a window of 10 days to either terminate or revise the transaction. The shareholders of Fuda Alloy approved the Proposal about the Extension of the Validity of the Shareholders? Resolution of the Major Asset Reorganization in a meeting held on May 19, 2023.

Huatai United Securities Co., Ltd. acted as Independent financial advisor and Zhong Lun Law Firm acted as legal advisor for Fuda Alloy Materials Co.,Ltd in the transaction. Pan-China Certified Public Accountants acted as accountant to Fuda aloy.

Fuda Alloy Materials Co.,Ltd (SHSE:603045) cancelled the acquisition of Kaiman Aluminum (Sanmenxia) Co., Ltd. from a group of shareholders on November 30, 2023.