Zhitong Finance App News, Jinyu Group (02009) issued an announcement. On April 29, 2024, the company held the 40th meeting of the 6th board of directors to review and pass the “Proposal on the Acquisition of Shares in China-Africa Jidong Building Materials Investment Co., Ltd.”
In order to further promote the development of overseas cement business and rationalize the cement business management relationship, the company agreed to use its subsidiary Tangshan Jidong Cement Co., Ltd. (hereinafter referred to as “Jidong Cement”) to acquire 40% of the shares of China-Africa Jidong Building Materials Investment Co., Ltd. (hereinafter referred to as “China-Africa Building Materials”) held by China-Africa Development Fund Co., Ltd. (hereinafter referred to as “China-Africa Fund”) with its own capital. According to the Tianxing Review (2023) No. 2508 Asset Assessment Report issued by Beijing Tianjian Industrial Asset Appraisal Co., Ltd. (hereinafter referred to as “Tianjian Industrial”), which is qualified to practice securities, as of September 30, 2023, the evaluation reference date, 40% of the shares in China-Africa Building Materials held by the China-Africa Fund are estimated to be worth 200124 million yuan. In the end, the relevant price is based on the asset evaluation results after filing by the state-owned assets supervision and administration agency.
The matter is within the scope of review by the board of directors and does not need to be submitted to the shareholders' meeting for consideration; it does not constitute a major asset restructuring.