Weiqiao Group Hongchuang Holdings plans to acquire 100% equity of Hongtuo Industrial

Hongchuang Holdings, a listed company under Weiqiao Group, announced that it is planning to issue shares to purchase 100% of the equity of Shandong Hongtuo Industrial Co., Ltd. held by Shandong Weiqiao Aluminum and Electricity Co., Ltd. and other counterparties. Hongtuo Industrial's net assets are as high as 47.2 billion yuan. It is expected that this transaction will constitute a major asset reorganization, but it does not constitute a reorganization listing. Hongtuo Industrial was established in November 2016 with a registered capital of 7.87 billion yuan. It owns all aluminum alloy products, alumina products and some aluminum alloy processing product production lines of China Hongqiao and its subsidiaries in mainland China.