Movement Alert｜CMOC Falls 3.68% in Regular Trading, Subsidiary Plans RMB900 Million Commitment to Two Private Equity Funds

Market Focus10-15

On October 15, CMOC fell 3.68% in regular trading, with shares trading at HK$14.69 and turnover of HK$73.45 million.

The most recent company-specific catalyst was its disclosure that wholly owned subsidiary Xizang Schmork Trading Co., Ltd. plans to commit a total of RMB900 million of self-owned funds as a limited partner in two private equity investment funds.

According to the company announcement released on October 13, the planned commitments include RMB500 million to Nanjing Yuanfeng Fund and RMB400 million to Hehe Growth Phase IV Fund. CMOC said the investment has completed internal approval procedures, does not constitute a connected transaction, does not trigger material asset restructuring thresholds, and accounts for a relatively small proportion of its latest audited total assets and net assets, with no material impact on day-to-day operating cash turnover.

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