Changting County State-owned Investment Group Co., Ltd. agreed to acquire 30% stake in Fujian Longyan Xitu Industrial Park Development Construction Co., Ltd. from Xiamen Tungsten Co., Ltd. (SHSE:600549) for approximately CNY 180 million on August 24, 2021. As on April 29, 2022, Changting County State-owned Investment Group Co., Ltd. entered into an equity transfer agreement to acquire 30% stake in Fujian Longyan Xitu Industrial Park Development Construction Co., Ltd. from Xiamen Tungsten Co., Ltd. (SHSE:600549). The consideration includes a deposit amounting to CNY 9.18 million.

The transfer price will be paid in two installments: the first installment of the transfer price is 50% of the total transfer price, and the transferee shall pay it off within 5 working days from the date of agreement, and the second installment of the transfer price is 50% of the total transfer price, and the transferee should pay it off within 1 year from the date when the agreement takes effect. The transaction has been by Xiamen Tungsten's Board of Directors.