Xingfa Group: Wholly-owned subsidiary Baokang Chufeng intends to acquire 50% equity of Qiaogou Mining held by Yao Hua through cash payment, with a transaction price of 855 million yuan.
Xingfa Group Announcement: Its wholly-owned subsidiary Bokang Chufeng intends to acquire 50% of the equity of Qiaogou Mining held by Yaohua Group in cash, with a transaction price of 855 million yuan. The funds will come from its own funds and bank loans. After the completion of the transaction, Qiaogou Mining will become a wholly-owned subsidiary of the company. This transaction does not constitute a related party transaction, nor does it constitute a major asset restructuring as stipulated in the Measures for the Administration of Major Asset Restructuring of Listed Companies.
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