Wintrue Holding plans to acquire a 49% stake in Shenglong Mining to stabilize the source of phosphate rock raw materials

According to the announcement from Wintrue Holding (002539.SZ), on September 22, 2025, the company signed the "Capital Increase and Share Expansion Agreement" with Mabiang Xinyong Zhiyuan Enterprise Management Co., Ltd. (referred to as "Xinyong Zhiyuan") and its wholly-owned subsidiary Sichuan Mabiang Shenglong Mining Co., Ltd. (referred to as "Shenglong Mining"). The company will acquire a 49% equity stake in Shenglong Mining through capital increase (investing 49 million yuan) and will cooperate to develop the Erba Phosphate-Lead-Zinc Mine located in Mabiang Yi Autonomous County, Leshan City, Sichuan Province (with phosphate rock resource reserves of approximately 29.271 million tons, an average P2O5 grade of 23.37%, and a mining scale of 500,000 tons/year). At the same time, to support Shenglong Mining in acquiring the Erba Phosphate-Lead-Zinc Mine and to meet the funding needs for the resumption of operations at the mine, the company plans to provide a loan of no more than 500 million yuan to Shenglong Mining in accordance with its 49% shareholding ratio, with a term not exceeding 5 years, and the interest rate will be based on the 5-year LPR loan rate. The other shareholder, Xinyong Zhiyuan, will provide a loan to Shenglong Mining under the same conditions according to its 51% shareholding ratio. The loans from the company and Xinyong Zhiyuan will be disbursed in accordance with Shenglong Mining's actual fund usage plan. The announcement indicates that after the mining of the Erba Phosphate-Lead-Zinc Mine, Shenglong Mining will prioritize the supply of phosphate rock to the company, providing a stable source of phosphate rock raw materials. The Erba Phosphate-Lead-Zinc Mine is a high-magnesium, low-silicon, low-iron aluminum phosphate mine, which, when used in conjunction with the medium-magnesium, medium-silicon phosphate mine that Leibo Company will produce in the future, is more suitable for the wet phosphoric acid process and industrial chain in Jingzhou and Yicheng, Hubei Province. This will help fully leverage the company's industrial chain advantages in the graded utilization of phosphoric acid, producing high-quality refined phosphoric acid, industrial-grade monoammonium phosphate, and water-soluble monoammonium phosphate, further enhancing the comprehensive utilization rate of phosphate rock resources