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Jinyu Jidong announced it will acquire a 6% stake from Beijing Jinyu Group for ¥96.15 million and a 15% stake from Jidong Development Group for ¥240.38 million, totaling ¥336.53 million, increasing its ownership in Jinyu Concrete Group to 51%.
Beijing Jinyu Group announced that Tangshan Jidong Cement will absorb Jinyu Jidong Cement (Tangshan) Co., Ltd., with Jinyu Group exchanging its 47.09% stake in the joint venture for new Jidong Cement shares. The transaction is valued at approximately 13.63 billion yuan ($2.1 billion). The board approved the plan on March 31, 2021.