Xinjiang Tianye announced that it plans to acquire, through a non-public agreement, 100% equity in four wholly owned subsidiaries held by its related party Tianfu Xinye: Jingyi Mining, Tianbochenye, Group Mining, and Turpan Mining. The total transaction amount is 865 million yuan, funded by the company's own capital. This transaction constitutes a related-party transaction but does not constitute a major asset restructuring. Upon completion, the company will add four limestone mines with a combined annual mining capacity of 9.45 million tonnes, as well as salt mine resources with an annual mining volume of 200,000 cubic metres, to secure its supply of lime and raw salt. The transaction is still subject to review by the company's shareholders' meeting.
Xinjiang Tianye Co LtdAcquiring four limestone and salt mines secures its supply of lime and raw salt, adding 9.45M tonnes of annual mining capacity.
