Sino Prima Gas plans market-based acquisition of bauxite resources

Sino Prima Gas Technology Co., Ltd. plans to acquire bauxite resources through market-based transactions. As planned, the total purchase amount within any 12-month period will not exceed 30% of the company's most recently audited total assets or 100% of its net assets. The acquisition will be funded through the company's own funds or self-raised capital, with plans to apply for financing of up to RMB2 billion (USD277 million) from financial institutions. The projects involved in the bidding process are for publicly offered mineral resources and do not involve any related-party transactions.

This initiative aims to strengthen the company's mineral resource reserves, enhance the quality of its assets, improve profitability, expand business scale, and bolster core competitiveness.