Xiamen Tungsten plans to reduce its stake in Tengyuan Cobalt by no more than 1%.

Xiamen Tungsten Industry announced that the company plans to reduce its stake in Ganzhou Tengyuan Cobalt New Material Co., Ltd. through centralized bidding. The total number of shares to be reduced shall not exceed 1.00% of Tengyuan Cobalt Industry's total share capital, i.e. not more than 2,932,924 shares.