Zheng Quan Zhi Xing·2025-05-12 09:33Group 1 - The core point of the news is the acquisition of Baiyin Nonferrous Metals Group Co., Ltd. by CITIC Group, which has resulted in a significant change in the company's ownership structure, with CITIC Group becoming the actual controller of the company through its subsidiary, CITIC Guoan Industrial Group Co., Ltd. [1][5][28] - CITIC Group holds a total of 2,445,671,272 shares in Baiyin Nonferrous, accounting for 33.03% of the total share capital, following the completion of the acquisition process [1][5][6]. - The acquisition was facilitated by a court-approved restructuring plan for CITIC Guoan Group and other related companies, which allowed for the transfer of shares and the establishment of CITIC Guoan as the largest shareholder of Baiyin Nonferrous [1][5][6]. Group 2 - The acquisition process complied with the relevant regulations, allowing CITIC Group to avoid making a public tender offer for additional shares, as it was deemed beneficial for market stability and the protection of minority shareholders [2][5]. - Throughout the acquisition process, CITIC Group and Baiyin Nonferrous have fulfilled their reporting and announcement obligations as required by law [6][28]. - The financial advisor confirmed that the transfer of shares was completed on June 6, 2023, and the actual control of the first major shareholder was officially changed to CITIC Group on November 1, 2023 [6][28]. Group 3 - The acquisition does not involve any adjustments to Baiyin Nonferrous's main business operations, and there are no plans for significant changes in the company's business strategy within the next 12 months [8][21]. - Baiyin Nonferrous is planning to invest in a copper-gold mining project in Brazil to enhance its international operations and resource security, which has been approved by the board [8][9]. - The company is also in the process of publicly transferring 100% of its subsidiary, Tangjisa (Barbados) Ltd., through an open bidding process, which is expected to improve operational efficiency [9][10][12]. Group 4 - The company has reported internal control deficiencies, including one significant financial reporting deficiency related to employee collusion leading to inventory shortages, which has been addressed through corrective measures [23][27]. - Baiyin Nonferrous has implemented an SAP information system to enhance its internal control and risk management capabilities, with ongoing evaluations planned for the system's reliability [27][28]. - The company has maintained compliance with corporate governance and internal control regulations throughout the acquisition process, with no violations reported [28][29].