Fengxing Corporation: Plans to purchase 25% equity of BAIYIN HUAXIN for 147.5 million yuan to implement transformation and upgrade.

Fengxing Group announced on July 15 that the company plans to purchase 25% equity of Baiyin Huaxin Jiuhao Renewable Resources Co., Ltd., held by Ningbo Xin Xin Gongmao Equity Investment Partnership Enterprise, for a total of 147.5 million yuan in cash. This transaction constitutes a related party transaction but does not constitute a major asset restructuring. The target company is an environmental protection enterprise that covers the collection, harmless disposal, and recycling of solid waste and hazardous waste, with its main products being resource products containing valuable metals such as zinc, silver, and iron produced from the disposal of solid and hazardous waste. The company's hazardous waste disposal and utilization capacity is 755,000 tons per year, making it the largest single enterprise in the country for solid and hazardous waste disposal, serving customers in industries such as mining, smelting, and energy, located downstream of the listed company's industry. The listed company's existing main business of wear-resistant materials is limited in development due to the impact of downstream building materials and cement industries' business cycle, and this minority equity purchase is aimed at implementing transformation and upgrading in the service of colored mines and resource recycling fields.