Xiamen Tungsten Industry (600549.SH) plans to invest 265.17,400 yuan to acquire 1.3483% of Jiangxi Jutong's shares

According to the Zhitong Finance App, Xiamen Tungsten Industry (600549.SH) announced that the company plans to invest 265.17,400 yuan to acquire 1.3483% of the shares of Jiangxi Jutong Industrial Co., Ltd. (“Jiangxi Jutong”) held by Jiangxi Zhuoxin Mining Co., Ltd. (“Jiangxi Zhuoxin”). Recently, the company signed “Equity Transfer Agreements” and their “Supplementary Agreements” with Jiangxi Zhuoxin and Jiangxi Jutong. After the transaction is completed, the company will directly hold 1.3483% of Jiangxi Jutong's shares.

With the continuous increase in the company's production capacity in the back-end deep processing and application fields of the tungsten industry chain such as hard alloys, cutting tools, tungsten wire, etc., the company's demand for tungsten resources is increasing year by year; by first acquiring Jiangxi Zhuoxin's 1.3483% shares, it will help the company to further enhance the guarantee of tungsten resources, which is conducive to the company's sustainable development and is in line with the company's long-term strategic development plan.