Core Viewpoint - Northern Mining (00433) has entered into a conditional sale agreement to sell all issued shares of its subsidiary, Jiulong Investment (Shanghai) Co., Ltd., to buyer Li Xiaolong for HKD 1 million, with cash payment upon completion [1] Group 1: Transaction Details - The sale is set to be completed on December 4, 2025, after trading hours [1] - The mining business will become the sole major operation of the remaining group, focusing on the exploration, production, and sale of molybdenum concentrate in China [1] - The sale price for the shares is HKD 1 million, payable in cash at completion [1] Group 2: Business Strategy - The financial performance of the group has primarily stemmed from the chemical trading operations of Anhui Tongxin and its subsidiaries [1] - The group plans to launch its aluminum metal trading business in the second half of 2024, which has generated only minimal revenue since its inception and holds no significant assets [1] - The board believes that the proposed sale represents a valuable opportunity to reshape the group's business strategy and reallocate resources towards developing its core mining operations [1]
北方矿业(00433)拟出售久龙投资(上海)全部已发行股本