Zhitong Finance App, North Mining (00433) announced that on December 18, 2023, the company's indirect wholly-owned subsidiary of Shanghai Huisong Industrial Co., Ltd. (buyer) and Mr. Qin Yuanjin entered into two memorandums of understanding with Mr. Qin Yuanjin. Mr. Qin Yuanjin (as the seller) agreed to transfer part of the shares of target company 1, target company 2, and target company 3 to the buyer. The buyer agreed to inject capital into target company 1, target company 2 and target company 3 after the transfer was completed. Therefore, after the capital injection was completed, the buyer held no less than 51% of the target company 1, target company 2, and target company 3. Shares of; and Qin Zhu Mr. Hua concluded a consensus memorandum of understanding 3, and Mr. Qin Zhuhua (as the seller) agreed to transfer part of the shares of target company 4 to the buyer. The buyer agreed to inject capital into target company 4 after the transfer was completed, so after capital injection 4 was completed, the buyer held no less than 51% of the shares in target company 4.

According to reports, target company 1, Guangxi Guiming Energy Investment Co., Ltd. is mainly engaged in investments in energy projects, building materials markets, municipal administration, transportation energy, environmental protection projects, energy saving projects, and agriculture, forestry, animal husbandry, and aquaculture.

Target company 2. Guangxi Guiming Aluminum Co., Ltd. is mainly engaged in non-ferrous metal rolling processing; commonly used non-ferrous metal smelting; non-ferrous metal alloy manufacturing; non-ferrous metal alloy sales; non-ferrous metal alloy sales; non-ferrous metal casting; new material technology research and development; and high-performance non-ferrous metals and alloy materials sales.

Target company 3. Guangxi Guigang Guoyuan Aluminum Co., Ltd. is mainly engaged in commonly used non-ferrous metal smelting; non-ferrous metal alloy manufacturing; productive waste metal recycling; metal scrap and debris processing; metal product research and development; non-ferrous metal technical services, technology development, technical consultation, technical exchange, technology transfer and technology promotion; metal materials sales; and sales of high-performance non-ferrous metals and alloy materials.

Target company 4. Guangxi Deyuan Aluminum Co., Ltd. is mainly engaged in research, development, processing and manufacturing of aluminum and aluminum alloy casting technology; production and sales of non-ferrous metals and materials, construction aluminum and industrial aluminum; production, sales and leasing of aluminum formwork for construction.

The board believes that the potential share transfer will help the Group expand the scope of the Group's business and also help the Group to seek suitable investment opportunities from time to time to expand innovative business in new business industries and enhance the Group's long-term growth potential. Given the strong potential of the Chinese market, if this new business classification is implemented, it is expected to bring sustainable revenue growth to the Group. Therefore, the Board believes that the conclusion of a consensus memorandum is in the overall interest of the Group and shareholders.