State City Mining Industry Hits Limit Up, Intends to Acquire Controlling Stake in Molybdenum Mining Company Guocheng Industrial.

On November 10th, Guocheng Mining achieved a limit-up, with a stock price of 20.92 yuan, an increase of 9.99%. On November 8th, Guocheng Mining announced that the company plans to acquire 60% of the equity of Inner Mongolia Guocheng Industry Co., Ltd. held by its controlling shareholder Guocheng Holdings Group Co., Ltd. through cash payment, with a transaction amount of 3.168 billion yuan. This transaction constitutes a major asset restructuring. After the completion of the transaction, Guocheng Industry will become a subsidiary of Guocheng Mining.