Jiarui International Announces Sale of 40% Equity Interest in Jiamei New Materials Technology (Yulin) Co., Ltd.

On December 23, 2024, Jiarui International announced that its indirect wholly-owned subsidiary signed an equity transfer agreement with the buyer to sell its 40% equity interest in Jiamei New Materials Technology (Yulin) Co., Ltd. for a total cash consideration of RMB 10 million. Jiamei New Materials Technology (Yulin) Co., Ltd. was established on September 18, 2021, and is mainly committed to the improvement of magnesium business and the creation of magnesium industry chain.