Ningbo Fubang Jingye Group (600768.SH) plans to purchase a 55% stake in Jiangyin Electrical Alloy in Ningbo, increasing the deep processing business of electric contact products.

Ningbo Fubang Jingye Group (600768.SH) released a major asset purchase and related party transaction report (draft), in which the listed company intends to pay cash to 10 transaction parties including Xinle Holdings and Wang Haitao to purchase 55% equity of Jiangyin Electrical Alloy Co., Ltd. (referred to as Jiangyin Electrical Alloy) held by them. This transaction does not involve the issuance of shares by the listed company or the raising of complementary funds. After the completion of this transaction, Jiangyin Electrical Alloy will become a controlling subsidiary of the listed company. It is reported that through the acquisition of 55% equity of Jiangyin Electrical Alloy, the listed company will add on to its existing aluminum processing and trading business, and further enrich its non-ferrous metal business by adding deep processing of electrical contact products based on materials such as silver and copper. This transaction is beneficial for improving the asset quality and business scale of the listed company, adding new profit growth points, and enhancing the company's continuous operational capability, profitability, and risk resistance capacity.