Zhuzhou Smelter Group Co.,Ltd. (SHSE:600961) signed the cooperation intent agreement to acquire Shuikoushan Non-Ferrous Metal Co., Ltd. from Hunan Shuikoushan Nonferrous Metals Group Co., Ltd. on April 7, 2022. Zhuzhou Smelter Group Co.,Ltd. (SHSE:600961) agreed to acquire Shuikoushan Non-Ferrous Metal Co., Ltd. from Hunan Shuikoushan Nonferrous Metals Group Co., Ltd. for CNY 3.3 billion on September 14, 2022. The consideration will be satisfied by way of share issuance and cash payment as 321,060,305 will be issued at a price of CNY 8.78 per share and CNY 497.454615 million in cash.

In a related transaction, Zhuzhou Smelter signed the cooperation intent agreement to acquire a 20.83% stake in Hunan Zhuye Nonferrous Metals Co., Ltd. from Hunan Xiangtou Jinye Private Equity Investment Fund Enterprise (Limited Partnership) on April 7, 2022. For the period April 30, 2022, Shuikoushan Non-Ferrous had CNY 0.35329935 million of total assets and CNY 0.13658085 million of net assets. As of October 18, 2022, shareholders of Zhuzhou Smelter Co., Ltd. have passed proposal on the company meeting the conditions of issuing shares and paying cash to purchase assets and raising supporting funds.

As of December 28, 2022, The China Securities Regulatory Commission has unconditionally approved the plan of issue of shares and paid cash to purchase assets and raised supporting funds of Zhuzhou Smelter Group. As of January 20, 2023, Zhuzhou Smelter Group Co.,Ltd. has recently received approval from the China Securities Regulatory Commission regarding issue of 321,060,305 shares to Hunan Shuikoushan Nonferrous Metals Group Co., Ltd. and 66,117,110 shares to Hunan Xiangtou Jinye Private Equity Investment Fund Enterprise (Limited Partnership) to purchase related assets, Zhuzhou Smelter Group will issue shares to raise supporting funds of no more than CNY 1337.4546 million. The approval is valid for 12 months from the date of issue.

Jia Yuan Law Office acted as legal advisor, Baker Tilly China Certified Public Accountants acted as an accountant and CSC Financial Co., Ltd. acted as financial advisor to Zhuzhou Smelter Group Co.,Ltd.