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Ximei Resources wholly-owned subsidiary introduces new shareholder through capital increase
2022-04-08  Source:Ximei Resources

Ximei Resources (Guizhou) Technology Limited (hereinafter referred to as " Ximei Guizhou"), a wholly-owned subsidiary of Ximei Resources Holding Limited (hereinafter referred to as " Ximei Group"), introduced a new investor, Guizhou New Kinetic Energy Industry Development Fund Partnership (Limited Partnership) (hereinafter referred to as "New Kinetic Fund"), by increasing its capital and expanding its shares.

The New Kinetic Fund is financed by the provincial treasury of Guizhou, and the Guizhou Provincial People's Government authorizes the Provincial Department of Industry and Information Technology as the financier and entrusts Guizhou Qiansheng State-Owned Assets Management Co., Ltd. as the representative of the financier.

The New Kinetic Fund increased capital to Ximei Guizhou by RMB 60 million and became a new shareholder of Ximei Guizhou. After the capital increase is completed, the registered capital of Ximei Guizhou will be increased from RMB 100 million to RMB 160 million, and the equity of Ximei Resources (Guangdong) Limited, a wholly-owned subsidiary of Ximei Group, in Ximei Guizhou will be 62.5%, and the equity of New Kinetic Fund will be 37.5%.

The introduction of state-owned capital is conducive to expanding the company's brand influence, improving its capital structure, and enhancing its capital strength and competitiveness. With the strong support of Guizhou government, the company will steadily promote the construction of Guizhou project, further expand the production and operation, and promote the rapid and steady development of tantalum and niobium new materials business.