Huaxin Building Materials will consider the acquisition of Lahao Philippines assets at the shareholders'meeting.

Recently, Huaxin Cement announced that the company intends to acquire about 99% of the issued shares of Philippine HPI held by Holley's Holderfin B. V. In two stages through a wholly-owned subsidiary, which constitutes a discloseable and connected transaction. In

the first stage, the Company will acquire 67.623% equity interest in HPI indirectly through the acquisition of equity interests in three shareholding companies at a consideration of not more than US $527 million. In the second stage, the Company will acquire the remaining 31.377% equity interest through option arrangement at a consideration of US $280 million as the lower limit and US $392 million as the upper limit. Before the first closing, it is necessary to launch a mandatory tender offer to the public shareholders of HPI, with the corresponding consideration not exceeding US $7.8 million.

The company will hold the fourth provisional shareholders'meeting in 2026 on October 30, 2026 to consider the matter.