Shenghe Resources completes Jiangyin, Zibo Jiahua equity acquisition

Shenghe Resources Holding announced that its wholly-owned subsidiary, Morning Light Rare Earth, finalized the acquisition of equity interests in Jiangyin Jiahua New Material Resources and Zibo Jiahua New Material Resources. Following the equity transfer, Morning Light Rare Earth now holds 86% equity in Jiangyin Jiahua and 90% equity in Zibo Jiahua. The initial agreement, signed on August 21, 2024, involved Morning Light Rare Earth acquiring the equity from NEO International Corporation and Zibo Shijia Industry and Trade. The acquisition price was RMB 182,718,243.29 for the 86% stake in Jiangyin Jiahua, and RMB 29,385,900 for the 95% stake in Zibo Jiahua from NEO and the 5% stake from Zibo Shijia.