Huaxin Cement announced that the company's board of directors reviewed and passed a bill relating to the acquisition of shares in CSNCIMENTOS in Brazil, and the target company's corporate value was R$12.7 billion. The company plans to apply for a merger and acquisition loan of no more than R$8.89 billion equivalent from the bank. The loan ratio does not exceed 70% of the enterprise value to pay the transaction price. At the same time, since the M&A settlement currency is the Brazilian real, in order to reduce foreign exchange risk, the company plans to carry out hedging in foreign exchange derivatives trading business.

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