600711.SH announced on June 30th that in order to firmly implement the company's development strategy of "upper control of resources and lower development materials", further optimize the ownership structure of subsidiaries, combine the actual development of the company, and improve the quality of operation and development and competitiveness of the company, Shengtun New Materials, a wholly-owned subsidiary of the company, plans to sign an "equity transfer agreement" with United Century. The 35% stake in Shengtun Global Resources held by United Century was acquired in cash.
Shengtun Global Resources is mainly engaged in resources investment, equipment import and export, commodity trade and other business, is an important holding subsidiary of the company, the company has efficient and stable operation for many years, with an annual production capacity of 30000 tons of copper and 6000 tons of crude cobalt hydroxide smelting capacity. The transaction price was finally set at 483 million yuan.