According to the Zhitong Finance App, Huaxin Cement (06655) issued an announcement. On May 20, 2022, the company signed a “Capital Increase Agreement” with the Huangshi State-owned Assets Administration Commission and the Huangshi State-owned Assets Administration Company. According to the agreement, the company invested in Huangshi State-owned Company with its own capital of RMB 1 billion. After the investment, the company held 5.2173% of the shares in Huangshi State-owned Company.

Huangshi State-owned Company has rich experience and good performance in business development such as green mine investment, gravel collection center, clean energy, and high-tech industry investment, which is in line with the company's industrial development direction. After completing this transaction, it will help the two sides to further deepen strategic cooperation, further accelerate the company's deployment of non-cement business, enhance the company's scientific and technological innovation capabilities, and help the company achieve green and low-carbon transformation and development in the integrated industrial chain.