Xiamen Tungsten: Intends to acquire 39% equity of Jiujiang Dadi Mining, paying an earnest money of 28 million yuan.

Announcement from Xiamen Tungsten Industry: The company has signed an agreement of intention for the transfer of 39% equity of Jiangxi Dadi Mining Development Co., Ltd. with Beijing Shangda Xin Investment Co., Ltd. Shangda Xin intends to transfer its 39% equity in Jiangxi Dadi Mining Development Co., Ltd. to the company. The company intends to acquire the equity and pay an intention fee of 28 million RMB. The signed "Agreement of Intention for Equity Transfer" is a framework and intention agreement for cooperation among parties, and formal equity transfer agreement has not been signed yet. There is still uncertainty as to whether the transaction can be completed.