Hainan Provincial Real Estate (Group) Co., Ltd agreed to acquire 51% stake in Hainan Haikong Longma Mining and Hainan Haikong Xiaohui Mining from Hainan Development HoldingsNanhai Co., Ltd. (SZSE:002163) for approximately CNY 170 million on August 11, 2023. Hainan Haikong Longma Mining and Hainan Haikong Xiaohui Mining reported Total assets worth CNY 147.8 million and Total Common equity of CNY 139.7 million in June 2023. Transaction has already been approved by Hainan Development Holdings Nanhai's Board of directors.

Transaction is subject to approval from Hainan Development Holdings Nanhai's Shareholders.