Zaozhuang Mining (Group) Co., Ltd. entered into a share transfer agreement to acquire 26.05% stake in Zhongtai Securities Co., Ltd. (SHSE:600918) from Laiwu Steel Group Ltd. for CNY 19.6 billion on November 30, 2021. In a related transaction, Shandong High-speed Investment Holdings Co., Ltd. entered into a share transfer agreement to acquire 5.32% stake in Zhongtai Securities Co., Ltd. from Laiwu Steel Group Ltd. for CNY 4 billion on November 30, 2021. Post completion of both transactions, Laiwu Steel Group Ltd. will hold 15% stake of Zhongtai Securities Co., Ltd. The transaction is subject to approval by competent state-owned asset regulatory authorities, to review on the concentration of operators having been passed by the Anti-monopoly Bureau of State Administration for Market Regulation. Qualification of shareholders in transaction have to be approved by China Securities Regulatory Commission. The China Securities Regulatory Commission approved the relevant shareholder qualifications for this gratuitous transfer. Huang Zhaohui, Wang Sheng and Du Yiqing of China International Capital Corporation Limited (SEHK:3908) acted as financial advisor to Zaozhuang Mining (Group) Co., Ltd.

Zaozhuang Mining (Group) Co., Ltd. competed the acquisition of 26.05% stake in Zhongtai Securities Co., Ltd. (SHSE:600918) from Laiwu Steel Group Ltd. on July 28, 2022.