Xinjiang Tianye (600075.SH) plans to acquire 100% equity of four mining companies held by Tianfu Xinye for 865 million yuan.

Xinjiang Tianye (600075.SH) announced that, in order to continue advancing asset structure adjustment and the state-owned enterprise reform process, improve the company's Shanghai Chlor-alkali Chemical raw material upstream industrial chain, avoid related-party transactions in the company's procurement of limestone and industrial salt raw materials, and significantly reduce the amount of related-party transactions, the company plans to acquire, by way of a non-public agreement, 100% equity of four wholly owned subsidiaries held by Tianfu Xinye, namely Jingyi Mining, Tianbo Chenye, Group Mining, and Turpan Mining, for a total transaction amount of 865 million yuan. After the completion of this transaction, Jingyi Mining, Tianbo Chenye, Group Mining, and Turpan Mining will become wholly owned subsidiaries of the company, will be included in the scope of the company's consolidated financial statements, and will be managed as controlled subsidiaries. The company will add four limestone mines with a total annual mining capacity of 9.45 million tons, salt mine resources with an annual mining capacity of 200,000 cubic meters, as well as three limestone production bases with a cumulative annual production capacity of 2.6 million tons and one industrial salt production base with an annual production capacity of more than 300,000 tons, ensuring the company's supply of limestone and raw salt raw materials and forming new performance growth points.