Huaxin Cement announced that Yunnan Huaxin Dongjun Cement Co., Ltd., a wholly-owned holding subsidiary, and Yunnan State-owned Cement Kunming Co., Ltd. Transfer its land use right and non-current assets such as above-ground buildings, attachments, machinery and equipment to the Changshui Street Office of the People's Government of Guandu District, Kunming City, Yunnan Province. Basic information of the subject matter of the
transaction:
Dongjun Cement is a wholly-owned subsidiary acquired by the Company in 2017. It was established in July 2000 with a registered capital of RMB260 million. It is mainly engaged in the manufacturing and sales of cement products and is registered in Kanglang Village, Dabanqiao Street, Guandu District, Kunming City. The land area of Dongjun Cement Plant is 290,617.42 square meters. It has a 4,000-ton/day cement clinker production line put into operation in 2006, with an initial investment cost of 735 million yuan. At present, it is in normal operation.
State-owned Kunming is a wholly-owned subsidiary acquired by the Company in 2017. It was established in December 1995 and registered at No.1356, Chunyu Road, Xishan District, Kunming City, Yunnan Province, with a registered capital of RMB130,375,100. The mining right of limestone mine owned by state-owned Kunming was obtained by the former Kunming Cement Plant in June 1983 and used by Dongjun Cement. The mining right was cancelled by Kunming Natural Resources Planning Bureau on October 26, 2022 due to the protection of Dianchi Lake. The subject matter of this
transaction is the land use right with an area of 290,617.42 square meters under the name of Dongjun Cement and its above-ground buildings (structures), attachments, machinery and equipment, as well as the use fee of the remaining unexploited mineral resources of the limestone mine under the name of state-owned Kunming. The property right of the subject matter of this transaction is clear, and there is no mortgage, pledge or any other restriction on transfer, no litigation, arbitration or judicial measures such as seizure and freezing, and no other circumstances that hinder the transfer of ownership.
