The total investment is planned to be RMB 77.59 million! Shangfeng Cement and Xinjiang Tianshan Cement provide financial support for the shareholding company

28, Shangfeng Cement issued a notice. In order to meet the daily operation and capital turnover needs of Xinjiang Tianfeng Investment Co., Ltd., a shareholding company, Zhejiang Shangfeng Building Materials Co., Ltd., a wholly-owned subsidiary of the company, will jointly provide financial assistance of no more than 77.587 million yuan to the remaining shareholders of Tianfeng Investment in proportion to their respective shareholdings. In terms of

equity ratio, Xinjiang Tianfeng Investment is jointly owned by Xinjiang Tianshan Cement and Zhejiang Shangfeng Building Materials, of which Xinjiang Tianshan Cement holds 70% and Zhejiang Shangfeng Building Materials holds 30%. According to the proportion of shareholding, Zhejiang Shangfeng Building Materials shall provide financial assistance of no more than 23.2761 million yuan, and Xinjiang Tianshan Cement shall contribute no more than 54.3109 million yuan.