muaythaiasiangames| Aide New Energy's share price surged by more than 200% and plans to sell iron ore assets for 314 million yuan

Aide New Energy (02623) surged 223% in early tradingmuaythaiasiangames, Gao Jian 1muaythaiasiangames.21 HKDmuaythaiasiangames, the stock price is now up 197muaythaiasiangames.06%, reported at HK$0.991.01, with a turnover of HK$5.70472 million.

Aide New Energy announced that the seller, Shandong Xingsheng Mining Co., Ltd.(an indirect wholly-owned subsidiary of the company), and the buyer, Shandong Dane Mining Technology Co., Ltd., entered into an asset transfer agreement. The seller has conditionally agreed to sell and the buyer has conditionally agreed to acquire the underlying assets at a consideration of RMB 314 million. The net proceeds are approximately RMB 289 million yuan and are intended to be used to invest in the Zhuge Shangyu Titanium Mine owned by Shandong Xingsheng, a major strategy of the Group, to increase the mining and production line construction scale of the Zhuge Shangyu Mine, and to produce titanium iron. Return shareholders with better economic benefits.