Xiamen Tungsten to acquire 31.52% stake in Jiangxi Jutong
2026-08-21 11:14:02 [Print]
On August 20, Xiamen Tungsten announced a series of cash acquisitions to increase its equity interest in Jiangxi Jutong Industry Co., Ltd. The company will pay RMB256 million (USD38.08 million) to acquire 13.03% of Jiangxi Jutong from related party Juhong Fund; RMB192 million (USD28.56 million) to acquire 9.77% from related party Xiamen Sanhong; and RMB145 million (USD21.57 million) to acquire 7.36% from related party Fujian Rare Earth Group. In total, Xiamen Tungsten will invest RMB593 million (USD88.20 million) for a 30.17% stake in Jiangxi Jutong.
Upon completion, Xiamen Tungsten will directly hold 31.52% of Jiangxi Jutong (including its existing interest). The company will also enter into a voting agreement with Fujian Rare Earth Group, under which Xiamen Tungsten will take the lead in managing Jiangxi Jutong's operations. Following the closing and the effectiveness of the agreement, Jiangxi Jutong will become a controlled entity of Xiamen Tungsten and will be consolidated into Xiamen Tungsten's financial statements.
Upon completion, Xiamen Tungsten will directly hold 31.52% of Jiangxi Jutong (including its existing interest). The company will also enter into a voting agreement with Fujian Rare Earth Group, under which Xiamen Tungsten will take the lead in managing Jiangxi Jutong's operations. Following the closing and the effectiveness of the agreement, Jiangxi Jutong will become a controlled entity of Xiamen Tungsten and will be consolidated into Xiamen Tungsten's financial statements.
Tungsten Bar W-4 99.9%min FOB China
Unit:USD/kg
China tungsten concentrate producers' output statistics by province by month
Unit: mt
