XIMEI RESOURCES(09936): Jinstone New Materials Fund invests 60 million RMB in Ximei Guangdong and subscribes to 4.41% of Ximei Guangdong's equity.

XIMEI RESOURCES (09936) announced on November 14, 2024 that the company and its indirect wholly-owned subsidiary Ximei Hong Kong, which in turn owns Ximei Guangdong, have entered into an investment agreement with Mr. Wu, the Chairman, Executive Director, CEO, and controlling shareholder of the company, and the independent third party Kinetic New Materials Fund. Under the investment agreement, Kinetic New Materials Fund has conditionally agreed to invest RMB 60 million in Ximei Guangdong and subscribe for 4.41% of its equity. RMB 105.6 million will be allocated to Ximei Guangdong's registered capital, while RMB 494.4 million will be allocated to its capital reserve. After the investment, Ximei Guangdong will be owned 95.59% by Ximei Hong Kong and 4.41% by Kinetic New Materials Fund, and its registered capital will increase from RMB 229 million to RMB 239 million. The company believes that the investment agreement will optimize the group's financial structure, enhance its overall competitiveness in the industry, promote its overall corporate development, and bring the maximum return to the company and its shareholders in the long run. Kinetic New Materials Fund is managed by Kinetic Investment Limited. The fund's core purpose is to serve the upgrade of the national manufacturing industry, focusing on six areas including special metal functional materials, high-end metal structural materials, advanced polymer materials, high-performance composite materials, new inorganic non-metallic materials, and cutting-edge new materials. Rare metals have always been a key investment area, and the company believes that this investment will inject momentum into the rapid development of Ximei Guangdong, deepen their strategic cooperation in the metal field, and promote industry synergy, industrial chain integration, and market expansion.