370 million! Conch Cement Acquires 80% Stake in Nayman Banner Hongji Cement


Updated Thu, 19 May 2022 11:05:52 GMT

Recently, Qinhuangdao Zhuozhong Industrial Co., Ltd. (hereinafter referred to as "Zhuozhong Industry") and Inner Mongolia Zalut Banner Xingta Mining Company Limited (hereinafter referred to as "Xingta Mining") have recently transferred 80% stake in Nayman Banner Hongji Cement Co. ("Nayman Banner Hongji Cement") to Anhui Conch Cement Company Limited ("Conch Cement"). According to Qichacha, Conch Cement invested 372.208 million. Before the transfer of shares, Zhuozhong Industry held 27.2259% of the company's shares and Xingta Mining held 72.7741% of the company's shares; after the transfer, Conch Cement held 80% of the company's shares and Zhuozhong Industry held 20% of the company's shares. It is reported that Nayman Banner Hongji Cement was established on July 7, 2005, with Cheng Congxin as legal representative and a registered capital of RMB 465 million. The company is located in Inner Mongolia Autonomous Region, and its business scope includes cement, cement products, limestone micro-powder manufacturing, mining, ore processing and sales, etc. On May 5, Conch Cement signed a project cooperation agreement with Naiman Banner Hongji Cement. Meng Xiandong, member of the Standing Committee of the Party Committee of Inner Mongolia Autonomous Region and Secretary of Tongliao Municipal Committee, Mozhigan Batu, member of the Standing Committee of Tongliao Municipal Committee and Secretary General of Tongliao Municipal Committee, Wang Cheng, Secretary of Party Committee and Chairman of Conch Group, Wang Jianchao, Vice General Manager, Li Qunfeng, General Manager of Conch Cement and Pan Zhonghong, Assistant General Manager, and Liu Xingbo, Chairman of Hongji Cement attended and witnessed the signing ceremony. Wang Cheng introduced the "123456" development goal of Conch Group in the next five years. He said that Inner Mongolia is an important ecological security barrier in the north of China, and we will firmly grasp the opportunity of the "double carbon" strategy to build Hongji Cement into a benchmark enterprise of "digitalization, intelligence and green", continue to strengthen, optimize and expand the main industry, and lead the transformation and upgrading of the industry. At the same time, we will continue to expand the cooperation fields with Tongliao City, deepen cooperation in upstream and downstream industries such as new energy, green building materials, energy conservation and environmental protection, and contribute to the high-quality economic and social development of Tongliao City.