Chifeng Jilong Gold Mining (06693) has been acquired by Zijin Mining Group (02899) for 242 million A-shares and has subscribed to 311 million shares of subscription shares. Trading will resume on March 23rd.

Chifeng Jilong Gold Mining (06693) announced that the Board of Directors received a notice from Ms. Li Jinyang and Zhejiang Han Feng on March 22, 2026, that they have entered into a share transfer agreement with Zijin Mining Group (a wholly-owned subsidiary of Zijin Mining Group) to sell a total of 242 million A-shares, representing approximately 12.73% of the company's issued share capital as of the date of this announcement and before the completion of the proposed investment. On March 22, 2026, the Company entered into a strategic investment agreement with Zijin Mining Group. Zijin Mining Group conditionally agreed to subscribe for a total of 311 million shares of subscription shares at a subscription price of HK$30.19 per share. Assuming no changes in the total number of issued shares (excluding the issuance of subscription shares) from the date of this announcement to the completion of the proposed investment, the subscription shares would represent approximately 131.5% of the existing issued H-shares and approximately 16.4% of the existing issued shares as of the date of this announcement; and approximately 56.8% of the increased issued H-shares and approximately 14.1% of the issued shares after the proposed investment is completed. The total proceeds from the proposed investment are approximately HK$9.386 billion, with an estimated net proceeds of approximately HK$9.292 billion. The net subscription price per subscription share (after deducting relevant expenses, costs, and overheads) is estimated to be approximately HK$29.89 per share. After the completion of the share transfer and the proposed investment, Zijin Group will hold a total of 572 million shares (including 242 million A-shares and 330 million H-shares), representing approximately 25.85% of the enlarged issued share capital of the Company. Therefore, Zijin Group will become the largest single shareholder group of the Company, and Ms. Li and Zhejiang Hanfeng will no longer be the largest single shareholder group. The Company expects that the introduction of Zijin Group as a strategic investor will support operational improvements and enhance shareholder value over time. With the scale, technical capabilities, and operational experience of Zijin Group, the Company is expected to benefit in areas such as exploration and resource conversion, mine engineering and construction, processing and recovery optimization, and supply chain management. Zijin Group's proven track record in the international market and project development and operational capabilities are expected to strengthen the Company's execution discipline and long-term performance. The proposed investment aims to further increase Zijin Group's equity in the Company and deepen the strategic synergy between the Company and Zijin Group, providing long-term support for the Company's development. Additionally, the proposed investment will enhance the Company's financial strength, provide additional funds for business operations and future development, improve overall financial flexibility, and help the Company access a wider range of funding sources and more favorable financing terms. The Company has applied to the Hong Kong Stock Exchange to resume the trading of H shares on the Hong Kong Stock Exchange from 9:00 am on March 23, 2026 (Monday).