Xiamen Tungsten (600549.SH) plans to invest 26.5174 million yuan to acquire 1.3483% equity of Jiangxi Jutong.

Xiamen Tungsten (600549.SH) announced that the company plans to invest 26.5174 million yuan to acquire 1.3483% equity of Jiangxi Jutong Industrial Co., Ltd. (referred to as "Jiangxi Jutong") held by Jiangxi Zhuoxin Mining Co., Ltd. (referred to as "Jiangxi Zhuoxin"). Recently, the company signed the "Equity Transfer Agreement" and its "Supplementary Agreement" with Jiangxi Zhuoxin and Jiangxi Jutong. After the transaction is completed, the company will directly hold 1.3483% equity of Jiangxi Jutong. As the company continuously enhances its production capacity in the back-end processing and application fields of the tungsten industry chain such as hard alloys, cutting tools, and tungsten wire, the company's demand for tungsten resources has been increasing year by year. By acquiring the 1.3483% equity of Jiangxi Jutong held by Jiangxi Zhuoxin in advance, it will help the company promote the progress of equity acquisition of Jiangxi Jutong, further strengthen the guarantee of tungsten resources, benefit the company's sustainable development, and align with the company's long-term strategic development plan.