Zhuzhou Smelter Group asset acquisition receives positive review

CITIC Securities Co., Ltd. has released its 2024 Continuous Supervision Report on Zhuzhou Smelter Group (SSE:600961), giving a positive assessment of the company's issuance of shares and payment of cash to purchase assets, along with the concurrent fundraising efforts. The acquired assets include 100% equity of Shuikoushan Nonferrous Metals and 20.8333% stake in Zhuzhou Smelter Nonferrous Metals. The report highlights the completion of the asset transfer, along with share registration and listing procedures. The private placement to raise supporting funds was also successfully executed, raising a total of CNY 1,170,956,567.60. CITIC Securities noted Zhuzhou Smelter Group's compliance with relevant laws and regulations, and praised the company's integration efforts to consolidate operations and maximize synergy. The report also affirmed the ongoing fulfillment of agreements by all parties involved. The report finds the company and its governance structures in regulatory compliance.