Gelonghui, May 30, 丨 Aide New Energy (02623.HK) announced that on August 3, 2020, Shandong Xingsheng Mining, an indirect wholly-owned subsidiary of the company, signed a mining rights concession contract I with the Linyi Natural Resources and Planning Bureau to renew the mining rights of Xinyangzhuang Iron Mine.
On the same day, it was announced that on November 17, 2022, Shandong Xingsheng Mining and the Linyi Natural Resources and Planning Bureau signed a mining rights concession contract II for the renewal of mining rights for the new Zhuge Shangyu ironite mining rights.
Shandong Xingsheng Mining is mainly engaged in mining mineral resources. It successfully obtained mining rights for Yangzhuang iron ore and mining rights for Zhuge Shangyu titanium iron ore to promote the normal business operation of the group, which conforms to the overall best interests of the company and its shareholders.