Jiangsu Suzhongke Construction Development Co., Ltd. agreed to acquire Shunbo Alloy Jiangsu Co., Ltd. from Chongqing Shunbo Aluminum Co.,Ltd. (SZSE:002996), Yongkang Huaya Industry and Trade Co., Ltd. and Hu Jinming for approximately CNY 180 million on July 4, 2024. Chongqing Shunbo Aluminum Co.,Ltd. holds 71.41%, Yongkang Huaya Industry and Trade Co., Ltd. holds 27.24%, Hu Jinming holds 1.35%. As of May 31, 2024, Shunbo Alloy Jiangsu Co., Ltd. reported total assets of CNY 114.01 million and total common equity of CNY 95.22 million.

The transaction is subject to consummation of due diligence investigation, statements and warranties made by the transferor and the target company in this agreement and other supplementary agreements or transaction documents are continuously true and valid, target company has not experienced any adverse changes in business operations, financial status, assets, etc. and transferor and the target company have not committed any breach of contract as stipulated in this agreement and other supplementary agreements or transaction documents. The deal has been approved by the board of Chongqing Shunbo Aluminum Co.,Ltd.