Core Viewpoint - The report outlines a non-compensatory transfer of 18.45% equity in Guangsheng Nonferrous Metals Co., Ltd. from Guangdong Rare Earth Group to China Rare Earth Group, aimed at optimizing resource allocation and enhancing industry concentration through internal restructuring [1][3]. Group 1: Equity Change Details - The equity change involves China Rare Earth Group increasing its total holdings in Guangsheng Nonferrous Metals to 129,372,517 shares, representing 38.45% of the total share capital [4][6]. - The direct holding by China Rare Earth Group is 18.45%, while the indirect holding through Guangdong Rare Earth Group is 20% [4][6]. Group 2: Purpose of the Equity Change - The primary purpose of this equity change is to deepen internal resource integration within China Rare Earth Group and optimize resource allocation [4][6]. Group 3: Approval and Compliance - The equity change has undergone necessary approvals and is pending compliance confirmation from the Shanghai Stock Exchange and registration with the China Securities Depository and Clearing Corporation [5][6]. Group 4: Company Information - China Rare Earth Group is a state-owned enterprise with a registered capital of RMB 100 million, involved in the mining and processing of rare earth metals [2][4]. - The company is controlled by the State-owned Assets Supervision and Administration Commission, with major shareholders including China Minmetals Corporation and China Steel Research Group [2][4].