China Metallurgical (601618.SH) plans to sell assets such as China Metallurgical Real Estate for 60.676 billion yuan, divest non-core assets and optimize resource allocation

Zhitong Finance App News, China Metallurgical (601618.SH) issued an announcement. In order to respond positively to the requirements of promoting central enterprises to focus on their main business, promote specialized integration and optimal allocation of resources, optimize the company's business structure, focus on core business, and enhance core competitiveness and sustainable profitability, the company plans to sell 100% of the shares held by China Metallurgical Real Estate and the company's underlying claims to China Metallurgical Real Estate Holdings to Minmetals Real Estate Holdings to manage 100% of the shares held by China Metallurgical Corporation, China Copper and Zinc, and Ruimu. Rights sold to China Minmetals China Huaye, a holding subsidiary of the company, plans to sell 100% of its shares in Huaye Duda to China Minmetals or its designated entity. According to the assessment report issued by CNOOC and after friendly negotiations between the parties, the transaction price was RMB 60.676 billion.

Through this transaction, the company will divest non-core assets and optimize the allocation of resources, which is conducive to optimizing the company's business structure, focusing on core business, and enhancing core competitiveness and sustainable profitability. In the future, the company will focus on the fields of metallurgical engineering, non-ferrous and mining engineering construction and operation, high-end infrastructure, industrial construction and emerging industries to promote high-quality business development.