On the evening of November 24, CNNC Titanium Dioxide (002145) issued an announcement stating that the company is now transferring 100% of its equity in Gansu Hecheng Titanium Co., Ltd.(hereinafter referred to as "Hecheng Titanium Dioxide") due to business development needs. Transfer to Anhui Jinxing Titanium Dioxide (Group) Co., Ltd.(hereinafter referred to as "Jinxing Titanium Dioxide"), a wholly-owned subsidiary of the company. The benchmark date of this transfer is September 30, 2023. After the completion of this transfer, Jinxing Titanium Dioxide will directly hold 100% equity of Hecheng Titanium, and Hecheng Titanium will change from a wholly-owned subsidiary of the company to a wholly-owned grandson of the company.
According to the "Stock Listing Rules of Shenzhen Stock Exchange" and the "Articles of Association" and other relevant regulations, this transfer is within the approval authority of the operating management and does not need to be submitted to the company's board of directors or shareholders 'meeting for review. This transfer will not result in changes in the scope of the company's consolidated statements. This transfer does not constitute a related party transaction, nor does it constitute a major asset reorganization as stipulated in the Measures for the Management of Material Asset Reorganizations of Listed Companies.
