China to Remove Provisional Export Tax on Aluminum Bar and Rod from May 1

On September 10, the signing ceremony for Tai'an Aluminum's annual 50,000-tonne industrial profile project was held at the Commerce Bureau of Anyi County. The project is invested and built by Jiangxi Tai'an Aluminum Co., Ltd. with a total investment of approximately RMB 400 million. It plans to construct workshops covering 48,500 square meters plus 8,000 square meters of dormitories and office buildings, featuring five major workshops—melting and casting, die casting, CNC machining, quality inspection, and packaging—equipped with professional equipment such as melting furnaces, refining furnaces, and aging furnaces, along with an intelligent aluminum melting and casting system.

On September 11, Hongqiao Holdings announced that it plans to acquire 100% equity stakes in Yunnan Hongqiao New Energy Co., Ltd. and Yunnan Weiqiao Xinchuang Science and Technology Industrial Park Development Co., Ltd. through its subsidiary Yunnan Hongqiao New Materials Co., Ltd., for a total cash consideration of RMB 2.05 billion. The transaction constitutes a related-party transaction: the seller of the Yunnan Hongqiao New Energy stake is Shandong Hongqiao, the company's indirect controlling shareholder, which also directly holds 2% of the company's shares; the seller of the Yunnan Xinhе stake is Binzhou Public Construction, a wholly-owned subsidiary of Shandong Weiqiao Pioneering Group controlled by the company's actual controller. Upon completion, the target companies will become wholly-owned subsidiaries of the company and be consolidated into its financial statements.

On September 14, Jiaozuo Wanfang announced that at its 15th meeting of the 10th Board of Directors, it reviewed and approved the proposal to terminate the share issuance for asset purchase and related-party transaction and to withdraw the application documents. Given that market conditions have changed significantly compared with the initial planning stage, the company and the major counterparties, after careful consideration, jointly decided to terminate the transaction. The transaction originally intended to purchase a 99.4375% stake in Cayman Aluminum (Sanmenxia) Co., Ltd. from 19 counterparties, constituting a major asset restructuring and a related-party transaction. The termination will not have any material adverse effect on the company's main business or financial position, and the company has committed not to plan any major asset restructuring for at least one month from the date of the announcement.