Santai unit advances acquisition of Tiansheng Mining stake

Sichuan Development Long蟒, a subsidiary of Chengdu Santai Holding Group (SZSE:002312), has made further strides in its acquisition of a 10% equity interest in Sichuan Development Tiansheng Mining Co., Ltd. The company has signed a formal "Property Transaction Contract" with Sichuan Provincial Advanced Materials Industry Investment Group, the parent company, thereby advancing the related-party transaction initially approved in January. The transaction, valued at RMB 26.33 million, will see Sichuan Development Long蟒 secure the stake via a public auction at the Southwest United Property Exchange.