Financials, Automotive Jun 23, 2022 06:40 PM (GMT+8) · EqualOcean
Ancai high tech announced that the company has signed a cooperation agreement with jinglusong, a natural person, and the company plans to acquire the controlling interest of Changzhi zhengqinghe Mining Co., Ltd. held by jinglusong and its persons acting in concert and the relevant assets in the mining area of the subject company. Changzhi zhengqinghe Mining Co., Ltd. is mainly engaged in the mining and sales of quartzite ore. It has a mining license to mine mineral quartzite, with a reserve of 1234100 tons and a production scale of 100000 tons / year. Jinglusong and the target company have carried out a large number of preliminary projects and facilities for ore mining within the mining area. Quartz sand is an important raw material for the company's glass production. The quartz sand ore mined by the target company can be used in the company's glass production line after processing. The geographical location of the target company is critical to the company's Anyang production base. The acquisition of the target company's equity and related assets is conducive to improving the company's self supply capacity of quartz sand, forming a synergistic effect with the existing glass business and reducing production costs.

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