Fengxing Co., Ltd. announced on July 15 that the company plans to purchase 25% of Baiyin Huaxin Jiuhe Renewable Resources Co., Ltd. held by Ningbo Xinxin Gongmao Equity Investment Partnership with 147.5 million yuan in cash. This transaction constitutes a related transaction, but it does not constitute a major asset restructuring. The target company is an environmental protection enterprise covering collection, harmless disposal, and resource recycling of solid waste and hazardous waste. The main products are recyclable products containing valuable metals such as zinc, silver, and iron from disposal of solid and hazardous waste. The company has a hazardous waste disposal capacity of 755,000 tons/year. It is the largest solid and hazardous waste disposal single enterprise in the country. It serves customers in the mining, smelting, energy and other industries, and is downstream of the listed company's industry. Listed companies' main wear-resistant materials business is currently limited in development due to the boom in the downstream building materials and cement industries. The purchase of minority shares is committed to implementing transformation and upgrading in the field of non-ferrous mining services and resource recycling.

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