NBD AI Bulletin -?Guocheng Mining Co Ltd ("the Company", SZ 000688, close price: 10.55 yuan) announced on December 10 that Guocheng Mining Co Ltd held the 15th meeting of the 11th board of directors and voted through the proposals related to the transactions with Zhejiang Guocheng Holding Group Co., Ltd. and Minmetals International Trust Co., Ltd.

In accordance with the equity transfer agreements, the Company plans to purchase a 92% stake in Guocheng Industrial from Zhejiang Guocheng Holding Group Co., Ltd. by means of paying cash and assuming debts and purchase a 8% stake in Guocheng Industrial from Minmetals International Trust Co., Ltd. via cash transactions. After the completion of the transactions, Guocheng Industrial will become a wholly-owned subsidiary of the Company.

According to the preliminary estimate, with September 30, 2020 as the base date for the assessment, the total equity of Guocheng Industrial is worth about 1.45 billion yuan. Based on this, the deal with Zhejiang Guocheng Holding Group Co., Ltd. will be worth about 1.334 billion yuan, while the transaction with Minmetals International Trust Co., Ltd. will be valued at 116 million yuan.

The semi-annual report shows that the main businesses of Guocheng Mining Co Ltd include non-ferrous metal mining and selection, non-ferrous metal trade, sulfuric acid and auxiliary products, internal offset, accounting for 70.88%, 21.12%, 6.03%, -2.19% of revenue, respectively.

Guocheng Mining Co Ltd's chairman is Wu Jianyuan, male, 55 years old, graduate degree, professor-level senior engineer. Guocheng Mining Co Ltd's general manager is Li Wubo, male, 48 years old, EMBA student at Guanghua School of Management Peking University.

Tips on "Stock Trends":

1. The number of shares held by northbound investors decreased by 2.4662 million in the past 30 days, representing 0.21% of the Company's circulating shares.

2. There was no institutional research on the Company in the past 30 days.

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(By Lan Suying)

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