North Mining (00433) announced that on November 22, 2023, the buyer Shanghai Huisong Industrial (an indirect wholly-owned subsidiary of the company) signed share transfer agreements with Sha Lisheng (Mr. Sha) and Zhang Chun (Mr. Zhang) respectively. Mr. Sha and Mr. Zhang each conditionally agreed to sell to the buyer 51% and 49% of their respective shares in the target company 2 Guangxi Pingguo Acmet New Materials, at a total cost of RMB 1 million. The cost must be paid in cash by the company.
Target Company 2 is a company established in China. It is a high-tech enterprise mainly engaged in the production and sale of functional and environmentally friendly new materials in China.