Xiamen Tungsten Industry: Intends to acquire 30.1683% equity of Jiangxi Jutong.

Xiamen Tungsten Industry Announcement: The company has signed a three-party "Cooperation Agreement" with Fujian Provincial Industrial Holdings Group Co., Ltd. and Jiangxi Tungsten Industry Holdings Group Co., Ltd. to acquire 30.1683% equity of Jiangxi Jutong Industrial Co., Ltd. The transaction price of this equity transaction is based on the total equity value of the target company shareholders of approximately 1.966 billion yuan as reflected in the "Asset Valuation Report" issued by a third-party evaluation agency, and will ultimately be based on the evaluation result approved by the review of the Fujian Provincial State-owned Assets Supervision and Administration Commission. The target company and some of its shareholders are related parties of the company, and the equity acquisition is still in the planning stage, and the transaction scheme needs to be further negotiated and confirmed with the target company and other shareholders.