Inner Mongolia Yuan Xing Energy Co.,Ltd (SZSE:000683) agreed to acquire additional 14% stake in Inner Mongolia Boyuan Yingen Mining Co., Ltd from Inner Mongolia Nabaichuan Resources Development Co., Ltd. for for CNY 2.1 billion on December 22, 2021. Post acquisition, Inner Mongolia Yuan Xing Energy Co.,Ltd will hold 60% stake in Inner Mongolia Boyuan Yingen Mining Co., Ltd. This transaction still needs to be approved by the Inner Mongolia Yuan Xing Energy's shareholders' meeting. For the period ending August 31, 2021, Inner Mongolia had CNY 970.6 million of total assets and CNY 359.3 million of Net assets. China Merchants Securities Co., Ltd. acted as financial advisor, Kangda Law Firm acted as legal advisor and Shinewing Certified Public Accountants acted as an accountant to Inner Mongolia Yuan Xing Energy Co.,Ltd.

Inner Mongolia Yuan Xing Energy Co.,Ltd (SZSE:000683) completed the acquisition of additional 14% stake in Inner Mongolia Boyuan Yingen Mining Co., Ltd from Inner Mongolia Nabaichuan Resources Development Co., Ltd. August 20, 2022.