Fengxing Co., Ltd. (002760.SZ) plans to buy 75% of Baiyin Huaxin's shares and is expected to constitute a major asset restructuring

According to Zhitong Finance App, Fengxing Co., Ltd. (002760.SZ) announced that the company plans to issue shares to purchase 75% of Baiyin Huaxin Jiuhe Renewable Resources Co., Ltd. held by Guangdong Huaxin, and plans to issue shares to no more than 35 specific investors to raise supporting capital. As of the signing date of this plan, the audit and evaluation work of the target company has not been completed, and the valuation value of the target assets and transaction price have not been determined. The transaction is expected to constitute a major asset restructuring.

The target company is mainly engaged in hazardous waste disposal business and renewable resource recycling business. It is an environmental protection enterprise covering hazardous waste collection, harmless disposal, and resource recycling. The company has certified disposal capacity of 755,000 tons/year. Sources of hazardous waste include mining, smelting, power generation and other industries, which are downstream of the company's industry. After this transaction, Baiyin Huaxin will become the company's holding subsidiary, further enriching the company's service areas for customers in the non-ferrous mining industry, from upstream mine selection to back-end hazardous waste disposal, focusing on the different production processes of non-ferrous metal selection, smelting and resource recycling, giving full play to the reserve advantages of listed companies' non-ferrous industry customers, establishing new business growth points, strengthening business collaboration, and improving overall profitability.