Weiqiao Group completed the internal “snake devouring elephant” acquisition transfer

According to the announcement, Hongchuang Holdings acquired 100% equity of Shandong Hongtuo Industrial Co., Ltd. (referred to as "Hongtuo Industrial") from nine enterprises, including Shandong Weiqiao Aluminum & Electricity Co., Ltd., Jinan Jiahui Investment Partnership (Limited Partnership), China Orient Asset Management Co., Ltd., China CITIC Financial Asset Management Co., Ltd., Tianjin Juxin Tianang Equity Investment Partnership (Limited Partnership), Ningbo Xinl Aluminum Enterprise Management Partnership (Limited Partnership), Jinan Hongtai Investment Partnership (Limited Partnership), Jinan Junyue Investment Partnership (Limited Partnership), and Tiancheng Zincheng Phase I (Wenzhou) Venture Capital Partnership (Limited Partnership), through the issuance of shares.