Hunan Nonferrous to take direct control of Zhuzhou Smelter

Hunan Nonferrous Metals Holding Group Co., Ltd. (Hunan Nonferrous) is set to become the direct controlling shareholder of Zhuzhou Smelter Group Co., Ltd. through a gratuitous transfer of state-owned shares. Hunan Nonferrous will acquire 321,060,305 shares (29.93% of total capital) from Hunan Shuikoushan Nonferrous Metals Group Co., Ltd. and 14,355,222 shares (1.34% of total capital) from Hunan Nonferrous Metals Co., Ltd., increasing its direct holding to 31.26%. Including an indirect stake of 19.78%, Hunan Nonferrous will control 51.05% of Zhuzhou Smelter Group.

The transfer, effective from December 31, 2024, is exempt from a tender offer under Chinese regulations, as it involves a transfer between entities under the same ultimate control, China Minmetals Corporation. Approvals have been secured internally, and the transaction awaits compliance confirmation from the Shanghai Stock Exchange and share transfer registration.

This restructuring aims to simplify the equity hierarchy and reduce management layers, with no anticipated changes to Zhuzhou Smelter Group's independent operations, assets, personnel, finances, or business activities. The acquiring party has confirmed no major legal or administrative obstacles, and no insider trading by relevant parties has occurred in the six months prior to the announcement.