Zijin Mining Group Co., Ltd. (“Zijin Mining”) has formally acquired controlling power in Chifeng Jilong Gold Mining Group Limited (“Chifeng Gold”) after completing a two-step share purchase and subscription on 22 October 2026.
The transaction was executed through wholly owned subsidiary Zijin Gold (Group) Co., Ltd. (“Zijin Gold”), which:
• Acquired 241.93 million A shares from former controlling shareholder Ms. Li Jinyang and her concert party, Zhejiang Hanfeng Venture Capital Partnership (Limited Partnership). • Subscribed for 310.90 million newly issued H shares of Chifeng Gold under a specific mandate approved by the Hong Kong Stock Exchange. • Combined these holdings with 18.83 million shares already owned by other Zijin Mining subsidiaries.
Following settlement and registration, Zijin Mining’s aggregated holding in Chifeng Gold stands at 571.66 million shares, equivalent to 25.85 % of Chifeng Gold’s total issued share capital, establishing Zijin Gold as a substantial shareholder and granting Zijin Mining control of Chifeng Gold.
Strategic Rationale Management highlighted that heightened global geopolitical uncertainty and resource nationalism are amplifying the value of producing, high-quality gold assets. By securing Chifeng Gold’s portfolio of producing mines in key metallogenic belts, Zijin Mining aims to strengthen its gold resource base, elevate production scale, and reinforce its influence in the global gold sector.
Post-Completion Integration Zijin Mining will expedite the formation of a new Chifeng Gold board and deploy its expertise in geological prospecting, deep exploration, and full-cycle mining engineering to enhance resource expansion, cost control, and operational efficiency across Chifeng Gold’s assets. These initiatives align with Zijin Mining’s broader objectives of boosting production, improving margins, and supporting sustainable, high-quality growth for both companies.
Stakeholders are advised by the board to exercise caution when dealing in Zijin Mining’s securities.
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