Baowu Magnesium Industry: Xuyi Assets Transferred at a Transaction Value of 72.37 Million Yuan

Baowu Magnesium Industry announced that the company publicly listed the transfer of the Xuyi industrial real estate and machinery equipment through the Shanghai United Assets and Equity Exchange. Jiangsu Zhongchi Wheel Hub Manufacturing Co., Ltd. successfully quoted 72.37 million yuan excluding tax, and both parties have signed the "Property Transaction Contract." The company has received the transfer payment of 72.37 million yuan and tax of 7.1277 million yuan, and obtained the "Asset Transaction Certificate." Subsequently, it will cooperate in handling the ownership transfer, with tax and fees borne as per regulations. This transaction does not constitute a related party transaction or major asset restructuring, and its purpose is to optimize resource allocation, with the impact on net profit to be determined by the audit results.