Zhongfu Industrial: plans to acquire a 24% stake in Zhongfu Aluminum held by Yulian Group, the controlling shareholder, for 1.254 billion yuan.

Jinshi data news on October 11th, Zhongfu Industry announced that the company plans to use its own funds of 1,253,944.8 million yuan to acquire 24% equity of Zhongfu Aluminum held by Yulian Group, the controlling shareholder, after the acquisition, the company will hold 100% equity of Zhongfu Aluminum. This transaction constitutes a related party transaction and does not constitute a major asset restructuring. The company stated that this acquisition can further enhance the company’s equity production capacity of electrolytic aluminum and “green hydroelectric aluminum”, which is in line with the company’s direction of “greenization” development and is conducive to enhancing the company’s profitability and sustainable development capabilities. The proposal is still subject to the review of the company’s shareholders’ meeting.