Henan Renhe Jinyu Mining Co., Ltd. signed a transfer agreement to acquire 90% stake in Yimei Group Sunshine Mining Co., Ltd. from Henan Dayou Energy Co., Ltd (SHSE:600403) for approximately CNY 870 million on October 1, 2022. After the signing of agreement, the deposit of CNY 250,000,000 paid by Henan Renhe Jinyu Mining Co., Ltd. to the property rights trading institution will be automatically converted into the consideration price and within 5 working days after agreement takes effect, Henan Renhe Jinyu Mining Co., Ltd. will pay CNY 51.62 million. The entire remaining price will be paid within 5 months after the signing of this agreement.

The proposal was approved by the board of Henan Dayou Energy Co., Ltd (SHSE:600403). As of November 2, 2022, Henan Dayou Energy has received first shares transfer payment of CNY 250 million. On June 30, 2023, Henan Dayou Energy has received the remaining transfer payment of CNY 568.29 million and the debt transfer of CNY 51.6 million.