cnbm announced that on October 25, 2024, it signed a capital contribution agreement with Handan Zhongcai, Nanjing Fiberglass Institute, Beijing New Building Materials Public, and Buckfoong Industry to jointly establish the joint venture company "Zhongcai (Handan) New Materials Co., Ltd." in Handan City, Hebei Province. The registered capital of the joint venture company is 80 million yuan, with each party subscribing different proportions to invest in the construction of a 50,000-ton/year rock wool board industrial production line project. This transaction is a related party transaction, but because the merger percentage is less than 5%, it is exempt from compliance with the requirements of circulars and shareholder approval under the listing rules, only needing to comply with the requirements of announcement and reporting. The joint venture company will use local solid waste raw materials to produce lightweight building materials, in line with the eco-friendly trend, expected to bring economic benefits and have market development potential.

cnbm announced that on October 25, 2024, it signed a capital contribution agreement with Handan Zhongcai, Nanjing Fiberglass Institute, Beijing New Building Materials Public, and Buckfoong Industry to jointly establish the joint venture company "Zhongcai (Handan) New Materials Co., Ltd." in Handan City, Hebei Province. The registered capital of the joint venture company is 80 million yuan, with each party subscribing different proportions to invest in the construction of a 50,000-ton/year rock wool board industrial production line project. This transaction is a related party transaction, but because the merger percentage is less than 5%, it is exempt from compliance with the requirements of circulars and shareholder approval under the listing rules, only needing to comply with the requirements of announcement and reporting. The joint venture company will use local solid waste raw materials to produce lightweight building materials, in line with the eco-friendly trend, expected to bring economic benefits and have market development potential.