Chuanfa Lomon's acquisition of Tianrui Mining was approved

On June 23, Chuanfa Lomon announced that the company's issue of shares to purchase assets and related transactions has been approved by the China Securities Regulatory Commission, and the acquisition of Tianrui Mining has made new progress again

According to the latest report of Chuanfa Lomon on the issue of shares to purchase assets and related transactions, the company plans to issue shares to Sichuan Advanced Materials Group and Sichuan Salt Industry to purchase 80% and 20% of Tianrui Mining held by them respectively.

It is understood that Tianrui Mining's main business is the mining, selection and sales of phosphate rock.

According to the performance commitment, Tianrui Mining's accumulated net profit after deduction within the scope of the consolidated statement in 3 years will not be less than 211 million yuan, of which, in 2022, 2023 and 2024, it will not be less than 40.

Chuanfa Lomon said that the acquisition of Tianrui Mining will help the listed company directly obtain high-quality and scarce phosphate rock resources in Sichuan Province, improve the company's phosphorus chemical industry chain, and further enhance the upstream phosphate rock resources of the company's main production bases.