---
title: "Hainan Mining: Termination of the acquisition of equity in the target company and related fundraising transactions"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/259495482.md"
description: "Hainan Mining announced the termination of the acquisition of a 68.04% stake in ATZMining and a 51.52% stake in Felston. The original plan was to acquire these stakes through the issuance of shares and cash payments, along with raising supporting funds. Due to changes in the market environment, the parties were unable to reach an agreement on core terms, and the board approved the termination of the transaction on September 30, 2025. The transaction was still in the planning stage, and the termination will not have a significant adverse impact on the company. Additionally, the company has committed not to plan any major asset restructuring within one month"
datetime: "2025-09-30T09:49:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/259495482.md)
  - [en](https://longbridge.com/en/news/259495482.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/259495482.md)
---

# Hainan Mining: Termination of the acquisition of equity in the target company and related fundraising transactions

Hainan Mining announced that it originally planned to acquire a total of 68.04% equity in ATZ Mining and 51.52% equity in Felston through the issuance of shares and cash payment, as well as to raise supporting funds. On December 16, 2024, the transaction plan was disclosed, and preliminary calculations indicated that it would not constitute a major asset reorganization, but would constitute a related party transaction. Since the disclosure of the plan, the company and all parties have actively promoted and fulfilled information disclosure obligations as required. However, due to changes in the market environment, the company and the transaction party were unable to reach an agreement on some core terms. On September 30, 2025, the company's board of directors approved the proposal to terminate the transaction. This transaction is still in the planning stage, and the termination will not have a significant adverse impact on the company. The company promises not to plan any major asset reorganization for at least one month

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