Tibet Mineral Development adjusts price for subsidiary equity sale

Tibet Mineral Development (SZSE:000762) is moving forward with plans to sell its controlling subsidiary, Baiyin Zabuye Lithium Co. The company's Eighth Board of Directors, at its third extraordinary meeting held on May 30, 2025, approved a resolution to adjust the listing price for the 100% equity transfer. The initial listing price, based on an assessed value of CNY 19,657,930,000 was previously announced on October 25, 2024. Due to a lack of qualified bidders in the initial listing period, the company has now lowered the reserve price by 10%, setting it at CNY 17,692,137,000. The sale process will continue through a second round of open listing via the Shanghai United Assets and Equity Exchange. The new listing period will last for five working days. Tibet Mineral Development cautions that the transaction is subject to uncertainties and will continue to release updates on its progress.