Zijin Mining Group Company Limited (SEHK:2899) and Xinjiang Baodi Mining Co., Ltd. (SHSE:601121) signed an Equity Transfer Agreement to acquire a 50% stake in Hejing Beizhan Mining Co., Ltd. from Shanxi Jiwu Pellet Co., Ltd. for approximately CNY 580 million on August 5, 2023. As part of the transaction, Zijin Mining Group Company will acquire 40% stake for CNY 563.5 million and Xinjiang Baodi Mining will acquire additional 1% stake for CNY 11.5 million. As of March 31, 2023, Hejing Beizhan Mining reported total asset of CNY 727.6 million and net asset of CNY 367.1 million. The transaction should be completed within 10 working days from the date of signing the agreement. As of August 17, 2023, Zijin Mining Group Company Limited acquired 49% stake in Hejing Beizhan Mining Co., Ltd. from Shanxi Jiwu Pellet Co., Ltd. As of September 23, 2023, Xinjiang Baodi Mining Co., Ltd. shareholders approved the transaction at special shareholders? meeting held on September 22, 2023.

Zijin Mining Group Company Limited (SEHK:2899) and Xinjiang Baodi Mining Co., Ltd. (SHSE:601121) completed the acquisition of 50% stake in Hejing Beizhan Mining Co., Ltd. from Shanxi Jiwu Pellet Co., Ltd. on September 22, 2023. Xinjiang Tianyang Law Firm acted as legal advisor to Xinjiang Baodi Mining Co., Ltd.