Shenzhen Mawei and Zhongrun Resource Investment reached an agreement for asset exchange

    Shenzhen Mawei Co., Ltd, primarily operated by ZXJOY, has recently reached an initial intention of asset exchange with Zhongrun Resources Investment Co., Ltd. 

    Shenzhen Mawei Co., Ltd. is mainly engaged in Mining project investment, mineral product sales and trading. It holds a 51% equity stake in the Malawi Titanium mining project and is a company primarily involved in the titanium industry. 

    Zhongrun Resources Investment Co., with the stock code 000506, currently has business operations spanning across mining investment, real estate development, slaes, leasing, and other relevant fields with significant assets both domestically and internationally. 

    According to the agreement, Zhongrun Resources Investment Co. intends to exchange its equity and debt assets with the 51% equity stake in the Malawi Titanium mining project held by Shenzhen Mawei Co. The estimated trasaction value is approximately 720 million yuan. The final trading price should be determined by Asset Assessment report drfted by official third party. 

    Zhongrun Resources announced this transaction in public statements on January 10th, 2023, and on February 14th, 2023.