Baowu Magnesium announced that the company transferred Xuyi industrial real estate and machinery and equipment through public listing on the Shanghai Joint Property Exchange. Jiangsu Zhongchi Wheel Manufacturing Co., Ltd. successfully quoted 72.37 million yuan without tax, and the two parties have signed a “Property Exchange Contract”. The company has received a transfer price of 72.37 million yuan and taxes of 7.127 million yuan, and obtained an “Asset Transaction Certificate”. In the future, we will cooperate to process the transfer of ownership changes, and taxes and fees will be borne in accordance with regulations. This transaction does not constitute a related transaction or major asset restructuring. The purpose is to optimize resource allocation, and the impact on net profit is based on the audit results.

Baowu Magnesium announced that the company transferred Xuyi industrial real estate and machinery and equipment through public listing on the Shanghai Joint Property Exchange. Jiangsu Zhongchi Wheel Manufacturing Co., Ltd. successfully quoted 72.37 million yuan without tax, and the two parties have signed a “Property Exchange Contract”. The company has received a transfer price of 72.37 million yuan and taxes of 7.127 million yuan, and obtained an “Asset Transaction Certificate”. In the future, we will cooperate to process the transfer of ownership changes, and taxes and fees will be borne in accordance with regulations. This transaction does not constitute a related transaction or major asset restructuring. The purpose is to optimize resource allocation, and the impact on net profit is based on the audit results.