Bei Xin Construction Materials Reorganizes Zhejiang Qiaobao Bridge, Stock Transaction Amounts to 43.32 Million Yuan!

Beixin Building Materials issued a formal announcement on December 3, announcing that its wholly-owned subsidiary Beixin Coating Co., LTD. (hereinafter referred to as "Beixin Coating") plans to jointly restructure with Zhejiang Bridge Paint Co., LTD. (hereinafter referred to as "Zhejiang Bridge") to further promote the company's "one body and two wings" strategic layout. The transaction will be conducted by public delisting and agreed acquisition, and the two transactions are mutually effective.

According to the announcement, Beixin Coating plans to acquire the 10.7390% equity of Zhejiang Bridge held by Hangzhou Industrial Investment Group Co., LTD. (hereinafter referred to as "Hangshi Group") through the public delisting procedure of Hangzhou Property Rights Exchange Center, and the corresponding registered capital of this part of the equity is 3.8016 million yuan. The reserve price of the publicly listed transfer is 43,319,204.7 yuan.

In addition, Beixin Coating also plans to acquire a total of 34.0113% of the equity of Zhejiang Bridge from Zhejiang Juqiao Enterprise Management Co., LTD., Deqing Huangqiao Enterprise Management Partnership (limited partnership), Deqing Hongqiao Enterprise Management Partnership (limited partnership) and Deqing Lanqiao Enterprise Management Partnership (limited partnership) through agreement acquisition. And through the agreement to acquire Bao Tianxiong held 6.6667% of the equity of Zhejiang Bridge.

The above transactions constitute a series of mutually effective transactions, and if any of them is not effective, the other transactions will not be effective. After the completion of the transaction, Beixin Building Materials will hold a total of 51.4169% of the equity of Zhejiang Bridge.