XTC(SH:600549) Zheng Quan Zhi Xing·2025-06-30 16:22Group 1 - The core opinion of the article is that Fujian Industrial Holding Group Co., Ltd. is legally permitted to acquire an 80% stake in Fujian Metallurgy (Holding) Co., Ltd. through a non-compensatory transfer, which indirectly grants it a 30.90% stake in Xiamen Tungsten Co., Ltd. without the need to issue a public offer [1][8][12] - The acquisition is approved by the relevant government and state-owned asset management departments, allowing the investor to exceed the 30% threshold in a listed company without triggering mandatory offer requirements [8][12] - Fujian Industrial Holding Group is a wholly state-owned enterprise under the supervision of the Fujian Provincial State-owned Assets Supervision and Administration Commission, confirming its legal status and ability to conduct the acquisition [6][7][12] Group 2 - The acquisition process has followed necessary approval procedures, including the transfer of shares from the Fujian Provincial State-owned Assets Supervision and Administration Commission to Fujian Industrial Holding Group [10][12] - The acquisition does not face any substantial legal obstacles, as it does not involve direct changes in shareholding of Xiamen Tungsten Co., Ltd. and complies with relevant regulations [10][12] - The company has fulfilled its information disclosure obligations as required by the Securities Law and the Regulations on the Management of Acquisitions of Listed Companies [11][12]