CIRC Establishes Joint Venture CNNC Fuyuan with CNNC Yuanke

Deep News07-06

CIRC (ASX: 01763) has announced that on July 3, 2026, the company entered into a Shareholders' Agreement with CNNC Yuanke to establish a joint venture company named CNNC Fuyuan.

According to the Shareholders' Agreement, the registered capital of CNNC Fuyuan will be RMB 10 million.

Of this amount, CIRC will contribute RMB 6 million in cash, while CNNC Yuanke will contribute RMB 4 million in cash.

Following the establishment of CNNC Fuyuan, CIRC and CNNC Yuanke will hold 60% and 40% equity stakes in the joint venture, respectively, making CNNC Fuyuan a non-wholly-owned subsidiary of CIRC.

Strategic Rationale for the Joint Venture

As the specialized nuclear technology application company within the China National Nuclear Corporation (CNNC) group, the execution of the Shareholders' Agreement to form CNNC Fuyuan represents a strategic initiative to expand upstream in the industrial chain.

This move is a crucial step for the company in consolidating control over supply sources and enhancing its command over the industrial chain, thereby strengthening and complementing key links within the nuclear technology application sector.

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