Chifeng Gold (Chifeng Jilong Gold Mining Group Limited) has finalised a two-step ownership reshuffle that installs Zijin Group as its new single largest shareholder and injects fresh capital of HK$9.18 billion (net) into the company.
On 22 October 2026, Zhejiang Hanfeng Mining Co. and Ms. Li transferred 241.93 million A shares—equal to 12.73% of Chifeng Gold’s pre-transaction share capital—to Zijin Gold, an entity under Zijin Group. Following the transfer, both sellers ceased to hold any equity in the company.
Simultaneously, Chifeng Gold completed a specific-mandate placement of 310.90 million new H shares to Zijin Gold at HK$29.82 per share. The issuance generated gross proceeds of HK$9.27 billion and net proceeds of approximately HK$9.18 billion, implying a net subscription price of HK$29.53 per share.
The combined transactions expanded Chifeng Gold’s issued capital to 2.21 billion shares—1.66 billion A shares and 547.40 million H shares. Zijin Group now holds 571.66 million shares, comprising 242.09 million A shares (14.55% of that class) and 329.58 million H shares (60.21% of that class), translating into a 25.85% stake across the enlarged share base. Prior to these actions, Zijin Group owned only 0.99% of total shares.
With the proceeds earmarked for mine construction, exploration and potential project acquisitions, Chifeng Gold expects the strengthened balance sheet and Zijin Group’s technical and operational expertise to accelerate reserve growth, optimise production efficiency and reinforce long-term development.
The board cautions investors to exercise due care when trading the company’s securities.
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