On December 23, Huaxin Cement disclosed the progress of acquiring Holley Zambia, Malawi Cement and related businesses, saying that on December 22, 2021, the conditions for 100% equity delivery of Lafarge Cement Malawi Ltd had been met. The Company completed the estimated price payment and equity delivery procedures on the same day. After the delivery, the final transaction price will be adjusted and finally determined according to the consideration adjustment mechanism stipulated in the Share Acquisition Agreement. After the completion of the equity acquisition, the company increased its cement grinding capacity by 250000 tons per year in Malawi. Lafarge Cement MalawiLtd will also be included in the scope of the company's consolidated statements.
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