HK GOLD IND GP (02623.HK) terminates discloseable transaction to form partnership for mining investment

NewTimeSpace · 2026/11/03 07:27 · By Zeyu Wu

On 2 November 2026, HK GOLD IND GP (02623.HK) disclosed the termination of the discloseable transaction to form a partnership for mining investment. As the parties failed to agree on certain commercial terms for the 20% stake acquisition in Guixi Baojia Mining, they entered into a termination agreement and agreed to dissolve the partnership and reduce its registered capital to RMB1 million. The board considers the termination will have no material adverse impact.

NewTimeSpace News: On 3 November 2026, Hong Kong Gold Industry Group Limited (02623.HK)disclosed the termination of the discloseable transaction relating to the formation of a partnership to invest in mining business.

The company had published announcements on 30 March, 24 April and 29 July 2026 regarding the formation of Jiangxi United Enterprise Management Center (Limited Partnership) and its acquisition of a 20% stake in Guixi Baojia Mining Co., Ltd., which engages in the mining and processing of non-ferrous metals including silver, lead and zinc. As a limited partner, the group was informed on 2 November that, as the partnership and Lanxiang Mining failed to agree on certain commercial terms, the parties mutually agreed to enter into a termination agreement on the same day to terminate the letter of intent and the acquisition.

The group, together with the other partners, agreed to dissolve the partnership and to reduce its total registered capital to RMB1 million to cover the expected dissolution costs. The board considers that the termination will have no material adverse impact on the group's financial performance and operations, and the group will continue to deploy the rights issue proceeds to seek other suitable acquisition and investment opportunities.

HK GOLD IND GP 02623.HK Transaction termination