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A-Zenith Home Furnishings to Buy 220.4 Million Yuan of Titanium Ore from Affiliate; Shares Fall 9%

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A-Zenith Home Furnishings (SHA:603389) will purchase titanium ore from affiliate company Hong Kong Heavy Sand Mining for 220.4 million yuan, according to a Thursday disclosure to the Shanghai bourse.

Hong Kong Heavy Sand Mining is controlled by Wu Tao, the actual controller of A-Zenith Home Furnishings.

Shares fell 9% during afternoon trading on Thursday.

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