Southwest Alcoa (Group) Co., Ltd. (hereinafter referred to as Southwest Aluminum) on May 25th in Chongqing Equity Exchange, holding all 15.29% of Chongqing Magnesium Technology Co., Ltd. (hereinafter referred to as Chongqing Magnesium) The equity stakes out of the transfer. The target transfer price is 6.7704 million yuan***, and the listing period is from May 25 to June 22, 2011.

According to public information, Chongqing Magnesium Industry was established in April 2001 with a registered capital of 51 million yuan. It is a local company in Chongqing that focuses on the deep processing of magnesium alloys and magnesium-based materials. Its leading products are used in automotive parts that do not contain any engine. At present, Chongqing Magnesium Industry has a total of 3 shareholders: the major shareholder Longxin Holdings Co., Ltd. takes 74.42% of the equity, which occupies an absolute controlling position; the second shareholder, Southwest Aluminum holds 15.29% of the shares; the third shareholder is Chongqing City Land Asset Management Co., Ltd. , holds 10.29% equity.

According to Chongqing Magnesium's corporate financial report, as of April 30 this year, the company's total assets were 99.260 million yuan, total liabilities were 103.5274 million yuan, and all the equity was negative 4.267 million yuan. For the transferee company, Southwest Aluminum only requires an independent legal person company with a registered capital of no less than 20 million yuan***.

Southwest Aluminum is a subsidiary of China Aluminum Corporation. It is the largest extra-large aluminum processing enterprise in China with the largest production scale and the most complete variety of specifications. Its aluminum products have been successively used in the "Shenzhou" series of spacecraft and "Chang'e No. 1". ".