Zijin Mining: Acquires Control of Chifeng Gold

GateUser-bd883c58 · 2026-03-23T13:48:50+00:00

Zijin Mining, through its wholly owned subsidiary Zijin Gold, acquired Chifeng Gold by purchasing A-shares at a premium and subscribing to H-shares at a discount, with a total transaction amount of approximately 18.258 billion yuan. Following this transaction, Zijin Mining will gain control of Chifeng Gold.

GateUser-bd883c58

2026-03-23 13:48:50

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Fast news from Daily Economic News: On March 23, Zijin Mining announced that on March 22, its wholly owned subsidiary Zijin Gold signed a “Share Transfer Agreement” with Ms. Li Jinyang, the controlling shareholder of Chifeng Gold, and her concerted parties Zhejiang Hanfeng. The company plans to acquire a total of 242 million shares of Chifeng Gold A-shares at RMB 41.36 per share (a 1.3% premium over the pre-suspension closing price of A-shares). The transaction amount is approximately RMB 10.006 billion. On the same day, Zijin Gold signed a “Strategic Investment Agreement” with Chifeng Gold, intending to subscribe to 311 million shares of Chifeng Gold H-shares at HKD 30.19 per share (about 83% of the six-month average price before suspension). The subscription amount is approximately HKD 9.386 billion (about RMB 8.252 billion). The total transaction price is about RMB 18.258 billion. After the transaction, the company’s wholly owned subsidiary will hold a total of 572 million shares of Chifeng Gold, accounting for approximately 25.85% of its total shares after the issuance. The company will gain control of Chifeng Gold.

Daily Economic News

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