China Kings Resources Group (603505.SH) intends to purchase 15.71% equity of Noah Fluorine Chemicals Co., Ltd. for 257 million yuan, becoming its second largest shareholder.

China Kings Resources Group (603505.SH) announced that the company plans to acquire 15.7147% equity of Zhejiang Noah Fluorine Chemical Co., Ltd. (referred to as "Noah Fluorine Chemical") held by Shaoxing Shangyu Long Cang Equity Investment Partnership Enterprise (Limited Partnership) and 5 other shareholders (collectively referred to as the "transferors") for a total consideration of 257 million yuan in cash. The registered capital and paid-up capital of the target company are both 13.106 million yuan. After the completion of this transaction, the company will hold 15.7147% equity of the target company, becoming its second largest shareholder, with a difference of 0.1415% in shareholding percentage compared to the largest shareholder. The company's external investment in the purchase of equity this time aims to leverage the company's upstream fluorite mine and core advantages in fluorine chemical basic products to layout the fine fluorine chemical track with high growth potential, expand new quality businesses using scope economics, and align with the company's strategic direction of "resources + technology" driving strategy and vertical integration layout in new quality fluorine chemical. This is an important strategic extension for the company as a leading upstream fluorine chemical enterprise, and a strategic move for the downstream fine fluorine chemical for value chain deepening, industrial integration, and strategic layout.