PKU RESOURCES (00618) announced that on March 30, 2026, the company entered into a joint venture agreement with Shanghai Cun'an and Mr. Feng Qiping to establish a joint venture company. According to the terms of the agreement, the proposed registered capital of the joint venture will be HKD 200 million. The company (or its subsidiary), Shanghai Cun'an (or its subsidiary), and Mr. Feng Qiping will contribute HKD 90 million, HKD 98 million, and HKD 12 million to the joint venture, respectively, representing 45%, 49%, and 6% of its total equity. The joint venture will be accounted for using the equity method and will not be consolidated into the company's financial statements.
The primary business of the joint venture will be providing international trade and supply chain services for nonferrous metal commodities. To achieve the strategic goal of sustainable development, the group has been actively seeking new business opportunities and will gradually allocate resources to develop new ventures, aiming to create new revenue streams and diversify its income structure. Shanghai Cun'an possesses extensive experience in the international trade and supply chain services for nonferrous metal commodities. The company believes that establishing the joint venture will present new growth opportunities for the group and enable it to expand into the international trade business for nonferrous metals, a market with favorable prospects.
The board of directors expressed confidence in the group's future development, believing that through continuous business expansion and enhancement of its overall strength, the group will create sustainable and stable value growth for its shareholders.
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