Emerging pipe casting company: proposes to publicly list and transfer 51% equity of its holding subsidiary and recover related debts.

New Emerging Casting Pipe announced that the company plans to transfer its holdings of 51% equity in its holding subsidiary, New Emerging Casting Pipe Urumqi Mining Investment Co., Ltd., and recover related debts through public listing on the Beijing Property Exchange, with a starting price of 205 million yuan. After the transaction is completed, Xinjiang Holdings is expected to receive 73.7338 million yuan from the equity transfer and 131 million yuan from the debt recovery. This transaction is subject to approval/registration by relevant regulatory authorities.