Jiangwu Rare & Precious Equipment shifts business focus, revises forecasts

Jiangxi Jiangwu Rare and Precious Equipment Co., Ltd. has announced a substantial change in its primary business operations and an adjustment to its 2025 related-party transaction forecasts following a major asset swap. Previously, the company’s core business involved coal mining, selection, and material circulation. However, a transaction approved on August 11, 2025, has shifted its main business to the research, development, production, and sale of magnetic separation equipment.

This strategic shift has necessitated a revision of the company’s anticipated 2025 related-party transactions, with the total projected amount now not exceeding 38.63 million yuan, a significant reduction from the previous forecast of 234.072 million yuan. The adjusted forecast includes various transactions such as equipment and spare parts sales, scrap copper sales, procurement of goods, and acceptance of services with affiliated companies.

In addition to the business restructuring, the company will convene its Fourth Provisional Shareholders' Meeting on November 14, 2025, to deliberate on proposed amendments to its Articles of Association, Rules of Procedure for Shareholders' Meetings, and Rules of Procedure for Board Meetings. These changes align with the "Company Law (2023 Revision)" and related regulations, which allow for the abolition of the Board of Supervisors, with its functions transferred to an audit committee under the board of directors. The company also reported a net loss attributable to shareholders of 306.75 million yuan for the first nine months of 2025.