Tibet Minery Development Head Co. agreed to acquire Nimu Copper Development Co., Ltd. from Tibet Mineral Development Co., LTD (SZSE:000762) for approximately CNY 530 million on November 28, 2019. Tibet Minery Development Head Co. will pay half consideration on or before December 31, 2019 and remaining half on or before February 28, 2020. For the year ended December 31, 2018, Nimu Copper Development Co., Ltd. reported total assets of CNY 639.6 million, total common equity of CNY 541.5 million, EBIT of CNY 1.34 million, net loss of CNY 26.7 million and total debt of CNY 98.1 million. The transaction is subject to approval from shareholders of Tibet Mineral Development Co., LTD. The transaction is approve by Board of Directors of Tibet Mineral Development Co., LTD. Tibet Minery Development Head Co. completed the acquisition of Nimu Copper Development Co., Ltd. from Tibet Mineral Development Co., LTD (SZSE:000762) on December 30, 2019.