2024, Ningxia Building Materials Group Co., Ltd. issued a notice on the receipt of a letter of commitment from the actual controller on matters related to major asset reorganization. The
notice shows that Ningxia Building Materials Group Co., Ltd. (Hereinafter referred to as "Company" or "Ningxia Building Materials") intends to issue shares to all shareholders of China Building Materials Information Technology Co., Ltd. At the same time, Xinjiang Tianshan Cement Co., Ltd. (Hereinafter referred to as "Tianshan Cement") intends to acquire the controlling rights of cement and other related business subsidiaries of Ningxia Building Materials by way of cash capital increase and the trademarks and other assets involved in cement and other related business (hereinafter referred to as "this transaction"). Disposal of business related to the remaining cement assets of
Ningxia Building Materials:
In this transaction, Tianshan acquired the controlling interest in the cement business of Ningxia Building Materials through capital increase of Ningxia Saima Cement Co., Ltd. (Hereinafter referred to as "Ningxia Saima"). China National Building Material Group Co., Ltd. (Hereinafter referred to as "China National Building Material Group") and China National Building Material Company Limited have fulfilled their commitments to the company on horizontal competition. In order to promote the smooth transition of Ningxia building materials and better play the synergistic effect between digital business and cement business, Ningxia building materials did not dispose of 100% equity in cement business. China National Building Material Group, the de facto controller of the
Company, recently issued an undertaking to Ningxia Building Material: "The Company undertakes that within three years after the completion of this transaction, the Company will, on the premise of complying with applicable laws and regulations, relevant requirements of state-owned assets and securities regulatory requirements, exercise its shareholder's rights." Promote Ningxia Building Materials to complete the transaction of selling the remaining cement and cement clinker , commercial concrete and sand aggregate manufacturing and sales related businesses to Tianshan Stock.
China Building Material Group has issued a statement to clarify that if the above proposal fails to obtain the approval or consent of Ningxia Building Material Authority, Tianshan Stock Authority or relevant regulatory authorities, China Building Material Group will promote the approval of the above proposal from the following year on the premise of meeting the requirements of state-owned assets and securities supervision. Make a proposal to the shareholders'meeting of Ningxia Building Materials at least once every natural year to sell the cement business held by Ningxia Building Materials to Tianshan Shares.
Up to now, China Building Materials Group, Tianshan Stock and Ningxia Horse Racing have not reached any intention on the transaction time, transaction plan and transaction consideration of the remaining cement business sold by Ningxia Building Materials.