On March 28, Shangfeng Cement announced that in order to implement the company's strategic development plan, actively integrate industry resources and seize opportunities to enhance the competitiveness of the main industry. Xinjiang Tianfeng Investment Co., Ltd. (Hereinafter referred to as "Xinjiang Tianfeng"), a shareholding company of Zhejiang Shangfeng Building Materials Co., Ltd. (Hereinafter referred to as "Shangfeng Building Materials"), a wholly-owned subsidiary of Gansu Shangfeng Cement Co., Ltd., intends to acquire 100% equity of Xinjiang Bohai Cement Co., Ltd. (Hereinafter referred to as "Bohai Cement"); Upon completion of the acquisition, Shangfeng Building Materials will indirectly hold a 30% stake in Bohai Cement through Xinjiang Tianfeng. According to
the data, Bohai Cement currently has a clinker cement production line with a daily output of 5500 tons , an annual cement production capacity of 1 million tons, 810 mu of land, 60 million tons of limestone reserves and 3.3 million tons of shale reserves. At the same time, it has a cement grinding station with an annual output of 1 million tons in Horgos Economic Development Zone, 180 kilometers away from Bohai Cement and 122 mu of its own land.
