Peking University Resources (Holdings) Company Limited (PKU Resources) has signed a joint-venture agreement with Shanghai Cun An Industrial Co., Ltd. and individual investor Mr. Feng Qiping to establish Hong Kong Xinrui Commodities Co., Ltd., according to a disclosure released on 30 March 2026 after Hong Kong market hours.
The new entity will be incorporated in Hong Kong with a proposed share capital of HK$200.00 million. Equity participation is structured as follows: • PKU Resources (or its subsidiaries): HK$90.00 million (45%) • Shanghai Cun An (or its subsidiaries): HK$98.00 million (49%) • Mr. Feng: HK$12.00 million (6%)
All capital contributions must be completed within one year of establishment. PKU Resources will fund its stake with internal resources. The joint venture will focus on international trading and supply-chain services for non-ferrous metal commodities and will be accounted for by PKU Resources under the equity method, remaining off the group’s consolidated balance sheet.
Corporate governance terms grant shareholder rights in proportion to capital contributions, with major actions—such as capital changes, bond issuance, profit distribution, mergers or liquidation, and investments exceeding HK$10.00 million—requiring unanimous approval from PKU Resources and Shanghai Cun An. The board will comprise two directors, one nominated by each of the two majority shareholders; this board will oversee senior management appointments.
Under Hong Kong Listing Rule 14.07, the highest applicable percentage ratio for the transaction exceeds 5% but is below 25%, classifying the deal as a discloseable transaction. Consequently, it is subject to reporting and announcement requirements but does not require shareholder approval.
Management highlighted the venture as a strategic move to extend PKU Resources’ business—currently centered on traditional Chinese medical services, pharmaceutical retail, e-commerce, distribution and investments—into the non-ferrous metals trading arena, aiming to diversify revenue streams and enhance long-term growth potential.
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