CHALCO plans to jointly establish a joint venture company with related parties, investing 300 million yuan for a 20% stake
I'm LongbridgeAI, I can summarize articles.China Aluminum Corporation plans to jointly invest with China Aluminum Group, Yunnan Copper, Chihong Zinc, and China Aluminum Capital to establish a joint venture company, with a total investment of 1.5 billion yuan, of which China Aluminum Corporation intends to invest 300 million yuan, holding 20% of the shares. The joint venture company will be held proportionally by all parties and will not become a subsidiary of the company, and its financial performance will not be consolidated into the company's accounts. So far, the parties have not signed a specific agreement
According to the announcement from China Aluminum (02600), on August 27, 2025, the company's ninth board of directors' fourth meeting approved the plan to establish a joint venture company with China Aluminum Group Co., Ltd. (Chinalco), Yunnan Copper Co., Ltd. (Ycc), Chihong Zinc Co., Ltd. (Chihong Zinc), and Chinalco Capital Holdings Co., Ltd. (Chinalco Capital). The company plans to contribute RMB 300 million in cash and physical assets, while Chinalco, Ycc, and Chinalco Capital plan to contribute RMB 375 million, RMB 300 million, and RMB 225 million in cash, respectively. Chihong Zinc plans to contribute RMB 300 million in cash and equity of its subsidiaries. After the establishment of the joint venture company, Chinalco, the company, Ycc, Chihong Zinc, and Chinalco Capital will hold 25%, 20%, 20%, 20%, and 15% of the equity in the joint venture company, respectively. The joint venture company will not become a subsidiary of the company, and its financial performance will not be consolidated into the company's accounts.
As of the date of this announcement, the parties involved have not yet signed any specific agreements regarding the establishment of the joint venture company