On September 14, China Nuclear Huayuan Titanium Dioxide Co., Ltd. issued an announcement stating that the company’s wholly-owned subsidiary Anhui Jinxing Titanium Dioxide (Group) Co., Ltd. intends to transfer its wholly-owned subsidiary to Gu Haidong, Li Rongxin and Wan Cong for 126 million yuan. The company has a 100% stake in Wuxi Haopu Titanium Industry Co., Ltd.

　　 It is understood that Wuxi Haopu was established on January 2, 2004. It is a wholly-owned grandson company of China Nuclear Titanium Dioxide. Its main business is titanium dioxide, chemical raw materials and products.

CNNC Titanium Dioxide stated that after the completion of the equity transfer, Jinxing Titanium Dioxide will no longer hold any equity in Wuxi Haopu, and the funds obtained will be used to supplement the company’s working capital, which will further optimize the company’s asset structure and revitalize existing assets. Better promote the development of the company’s main business and maximize the company’s interests.