Panzhihua Gangcheng Group Co., Ltd. and Pangang Group Vanadium & Titanium Resources Co., Ltd. (SZSE:000629) signed on equity transfer agreement to acquire 56% stake in Panzhihua Yangrun Technology Co., Ltd. from Shu Guipeng, Yu Haibo, and Li Dejun for CNY 60.2 million on August 18, 2023. This does not require approval by the board of directors and shareholders? meeting.

This only requires approval by the company?s office of the general manager. Panzhihua Yangrun Technology Co., Ltd. reported financial for the year ended 2022 Total assets of CNY 168.58 million, Net assets 101.19 million, Operating revenue 276.62 million, Operating profit 31.40 million, and Net profit 26.47 million.