en.Wedoany.com Reported - Zhe Kuang Heavy Industry Co., Ltd. (hereinafter referred to as "Zhe Kuang Shares") announced on May 6 that the closing date for its acquisition of 100% equity in Kazakhstan's Alaigyr company and related creditor's rights through its holding subsidiary has been extended to May 29, 2026. The total transaction amount is equivalent to approximately RMB 406 million. Due to the fact that domestic and overseas approval procedures have not yet been fully completed, the original closing plan scheduled for April 30 could not proceed as expected.
According to the announcement, Zhe Kuang Shares' holding subsidiary, China Hainan Changxing Resources Investment Co., Ltd. (hereinafter referred to as "Hainan Changxing"), plans to acquire 100% equity of Alaigyr company held by Tau Ken Samruk National Mining Company Joint Stock Company (hereinafter referred to as "TKS") for KZT 350 million in cash (equivalent to approximately RMB 4.8853 million), and assume TKS's shareholder loans to Alaigyr company of no less than KZT 2,876,945.42 million (equivalent to approximately RMB 401.5641 million). The total amount of equity and loans is no less than KZT 2,911,945.42 million, equivalent to approximately RMB 406.4494 million. The overall transaction scale of Zhe Kuang Shares' acquisition of Kazakhstan assets is approximately RMB 406 million.
The announcement shows that the two parties originally agreed to complete all preconditions before April 30, 2026. However, as the domestic and overseas approval procedures involved in the transaction are still in progress, the closing date has been extended to May 29 by mutual agreement, provided that the relevant approval procedures are completed and transaction conditions are properly fulfilled before that date. Zhe Kuang Shares cautioned that the supplementary commercial terms of this transaction and the additional conditions required for domestic and overseas government approvals still require further negotiation and evaluation. Whether the transaction can ultimately be completed depends on the completion of all business negotiations, the fulfillment of internal decision-making and approval processes, and the signing of all documents by both parties. Therefore, there remains uncertainty regarding the progress and outcome of the transaction after the closing extension.
The specific asset situation of Alaigyr company and the integration plan after the completion of the acquisition are subject to further disclosure in subsequent announcements by Zhe Kuang Shares. The company will promptly disclose the progress of this Kazakhstan acquisition matter in accordance with legal and regulatory requirements.
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