Fengxing Co., Ltd.: Planning to issue shares to acquire a 75% stake in Baiyin Huaxin, uncertainties remain in the transaction.

Phoenix Holdings announced that the company plans to acquire 75% of the equity of Guangdong Huaxin held by Huaxin Silver through the issuance of shares, and raise funds from up to 35 specific investors. The transaction is expected to constitute a major asset restructuring and related party transaction, and will not result in a change of control. As of the disclosure date of the announcement, the intermediary has conducted due diligence, the audit and evaluation of the target assets have not been completed, the valuation is not determined, the transaction scheme is still under discussion and verification, and the parties have not signed a formal agreement, therefore there is a high level of uncertainty.