Core facts
On August 3, 2026, Xinke Materials announced that it plans to use its own funds and self-raised funds to acquire the 10% minority stakes in its controlled subsidiary Xinke Copper held by Chongzuo Gongtou and Guangxi Tongzheng, totaling 20%. The company authorized management to participate in the public listing transaction at a price not exceeding Xinke Copper's appraised value.
Transaction progress
After the transaction, the company's stake in Xinke Copper will increase from 80% to 100%, making Xinke Copper a wholly-owned subsidiary. The transaction has been approved by the board of directors and does not need to be submitted to the shareholders' meeting. The counterparty's sale of equity still needs to complete procedures related to state-owned asset disposal.