HYTY: Wholly-owned subsidiary acquires 53.125% equity in Chenxiang Minerals and increases capital

HYTY announced that its wholly-owned subsidiary, Huiyun Mining Investment, intends to acquire a total of 53.125% equity in Chenxiang Minerals held by Zheng Dahua and Chen Wenhua for RMB 30.6 million using its own or raised funds, and to increase its capital in Chenxiang Minerals by RMB 32.4 million using its own or raised funds. Upon completion of the transaction, Huiyun Mining Investment will hold 70% equity in Chenxiang Minerals, which will become a subsidiary within the consolidated financial statements of HYTY. The main business of Chenxiang Minerals is mineral resource development, and this acquisition will help HYTY expand its business scope and enhance its competitiveness