Anhui Jiangnan Chemical Industry Co.,Ltd. (SZSE:002226) agreed to acquire Shaanxi North Civil Explosives Group Co., Ltd. from North Special Energy Group Co., Ltd., Ordnance Industry Equity Investment (Tianjin) Co., Ltd. and Xi'an Qinghua Investment Co., Ltd. for CNY 544 million on March 13, 2023. As of September 30, 2022, Shaanxi North Civil Explosives Group Co., Ltd reported total assets of CNY 378.7734 million and net assets of 221.8219 million. Anhui Jiangnan Chemical Industry board of directors has approved the transaction.

This transaction has been approved by China Ordnance Industry Group, and does not require the approval of the State-owned Assets Supervision and Administration Commission of the State Council.