Zijin Mining Group Company Limited (HKG: 02899) has announced that its wholly-owned subsidiary, Zijin Xiamen Equity Investment, entered into a partnership agreement on September 15, 2026, with partners including Xiamen Puquan and Kunkun Investment. Acting as one of the limited partners, Zijin Xiamen Equity Investment has committed RMB 1 billion to the Shidai Shenyuan Fund, representing a 20.4081% subscription ratio.
Kunkun Investment, another limited partner in the fund, has committed RMB 200 million, holding a 4.0816% subscription ratio. As the actual controller of Kunkun Investment is Mr. Chen Jinghe, the company's former chairman who stepped down less than 12 months prior to the announcement date, he remains a connected person under the Shanghai Stock Exchange listing rules. Consequently, Kunkun Investment is classified as a connected entity, and this investment constitutes a connected transaction involving joint investment with a connected person.
The purpose of Zijin Xiamen Equity Investment's participation as a limited partner is to leverage the research capabilities and project resources of professional investment institutions. The initiative aims to track frontier technology trends, including artificial intelligence and embodied intelligence, with a focus on applications in core business scenarios such as resource exploration, intelligent mine construction, mineral processing optimization, safety production management, and operational decision-making. This strategic move is designed to reserve external resources for the company's digital transformation and technological innovation efforts.
As a large-scale multinational mining group engaged in the exploration and development of copper, gold, lithium, zinc, silver, and molybdenum mineral resources worldwide, the company believes that Zijin Xiamen Equity Investment's subscription to the Shidai Shenyuan Fund will help expand its footprint in resource exploration, intelligent mine construction, mineral processing enhancement, and safety management. Accordingly, the directors, including independent non-executive directors, have determined that the terms of the transaction were reached on fair and reasonable principles, with the partnership agreement executed under general commercial terms and in the ordinary course of the company's business, consistent with the overall interests of the company and its shareholders.
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