Xiamen Tungsten Co., Ltd. intends to acquire the assets of the Secondary Resources Manufacturing Department.

Xiamen Tungsten announced in the evening that the company plans to use its own or self-raised funds to purchase the assets of the secondary resource manufacturing department held by Xiamen Tungsten Industry through a non-public agreement transfer method. According to the "Appraisal Report" issued by Fujian Zhongxing Asset Evaluation Real Estate Land Valuation Co., Ltd., after negotiation and agreement between the two parties, the transaction price for this transaction is 78.87 million yuan. The transaction does not constitute a major asset restructuring as defined in the "Administrative Measures for Major Asset Restructuring of Listed Companies", and there are no significant legal obstacles to implementation. The transaction has been approved by the company's board of directors and still needs to be submitted to the shareholders' meeting for approval.