China Salt Chemicals: Plans to approve the capital reduction of China Salt Alkali Industry shareholders.

On the evening of June 19, China National Salt Chemical Co., Ltd. announced that China National Petroleum Corporation Salt Alkali Co., Ltd. was jointly established by PetroChina Taihu Investment Co., Ltd. and the company, with Taihu Investment holding 51% of the shares and China National Salt Chemical holding 49%. China National Petroleum Corporation Salt Alkali Co., Ltd. won the mining rights for natural alkali in Daqin Tala area of Naiman Banner, Tongliao City, Inner Mongolia, with a bid of 6.809 billion yuan. Now, Taihu Investment has proposed to reduce its capital and withdraw from all the shares and related interests in China National Salt Alkali Co., Ltd. After the reduction of capital, China National Salt Chemical will hold 100% of the shares in China National Salt Alkali Co., Ltd., which will be included in the company's consolidated financial statements. According to preliminary studies and calculations, this transaction is expected to constitute a major asset restructuring as specified in the "Administrative Measures for the Restructuring of Listed Companies".