Chen Weidong and Chen Wei’er signed share transfer agreement to acquire 10.6% stake in Guangdong Xianglu Tungsten Co., Ltd. from Shangrao Zhongda Enterprise Management Co., Ltd. for approximately CNY 270 million.

Chen Weidong and Chen Wei’er signed share transfer agreement to acquire 10.6% stake in Guangdong Xianglu Tungsten Co., Ltd. (SZSE:002842) from Shangrao Zhongda Enterprise Management Co., Ltd. for approximately CNY 270 million on March 17, 2021. Chen Weidong will acquire 5.59% stake comprising 15.3 million shares and Chen Wei’er will acquire 5% stake comprising 13.7 million shares at CNY 9.25 per share each. Post completion, Shangrao Zhongda Enterprise Management will not hold any stake in Guangdong Xianglu Tungsten.