ZIJIN MINING (02899.HK): Subsidiary to Contribute RMB 1 Billion to Shidai Shenyuan Fund in Connected Transaction

NewTimeSpace News: On 16 September 2026, Zijin Mining Group Co., Ltd. (stock code: 02899) announced that its wholly-owned subsidiary, Zijin Mining Equity Investment Management (Xiamen) Co., Ltd., on 15 September 2026 entered into a partnership agreement with Xiamen Puquan, Kunkun (Hainan) Investment Co., Ltd. and other partners to invest, as a limited partner, in Xiamen Shidai Shenyuan Venture Capital Fund Partnership (Limited Partnership), with a subscribed capital contribution of RMB 1,000 million, representing 20.4081% of the fund's subscribed capital; the fund's total subscribed capital is RMB 4,900.01 million.

Kunkun Investment is also a limited partner of the fund, with a subscribed contribution of RMB 200 million representing 4.0816%. As the actual controller of Kunkun Investment is Chen Jinghe, the Company's former chairman, who resigned from the chairmanship less than 12 months before the date of the announcement, and Mr Chen and his spouse Qian Bing together hold 100% of Kunkun Investment, the investment constitutes a connected transaction involving co-investment with a connected person.

The transaction was unanimously approved by the Company at the 15th extraordinary meeting of the ninth board of directors in 2026, having been considered and approved in advance by a special meeting of independent directors. The transaction amount represents 0.54% of the Company's audited net assets attributable to shareholders for the most recent period and does not require approval by the shareholders' general meeting. As one or more applicable percentage ratios exceed 0.1% but all are below 5%, the transaction is exempt from the circular and independent shareholders' approval requirements under Chapter 14A of the Listing Rules, but remains subject to the reporting and announcement requirements.

Other subscribers include Runze Intelligent Computing Technology Group, Fujian Mindong Shidai Rural Investment Development Partnership, Zhengzhou Yiren Industrial, Tang Yue and Lens Technology; the fund's general partner and executive partner is Xiamen Puquan Private Fund Management Partnership. The Company said the investment will help expand its presence in resource exploration, smart mine construction, process optimisation for mining and metallurgy, and safety production management. The fund is still required to be filed with the Asset Management Association of China.

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