Shenghe Resources (600392.SH) subsidiary plans to acquire 100% stake in Peak Company to promote the development of the Ngualla rare earth mine project.

Wisdom Finance News APP, Shenghe Resources (600392.SH) announced that in order to promote the rapid implementation of the Ngualla rare earth mine project and further consolidate the company's resource base for development, the company's wholly-owned subsidiary, Ganzhou Morning Light Rare Earth New Materials Co., Ltd. (referred to as "Morning Light Rare Earth"), plans to acquire the equity of Peak Rare Earths Limited. According to the "Scheme Implementation Agreement" signed by both parties and the relevant annexes, Morning Light Rare Earth agreed to acquire all the ordinary shares issued by Peak Company to the public (including 352 million ordinary shares already issued, and 74.92 million shares planned for issuance before the implementation of the scheme. and the shares obtained from the conversion of existing Peak Company incentive shares, totaling 130.749 million shares), representing 100% of Peak Company's total shares (including the 19.86% equity stake currently held by the company through its wholly-owned subsidiary, Shenghe Resources Singapore Limited).