Zijin Mining to boost stake in Longking Environmental with share subscription

Zijin Mining Group Co., Ltd. announced its board of directors approved a resolution to fully subscribe to a private placement of A-shares by its controlling subsidiary, Fujian Longking Environmental Protection Co., Ltd. Zijin Mining will acquire up to 167,926,112 A-shares at a price of RMB 11.91 per share, totaling no more than RMB 2bn. These funds are intended to fully replenish Longking Environmental's working capital.

As of September 30, 2025, Zijin Mining and its wholly-owned subsidiaries collectively held 317,511,529 shares of Longking Environmental, representing 25% of its total share capital. Following this subscription, their combined holdings are projected to increase to 485,437,641 shares, or approximately 33.76% of Longking Environmental's total share capital after the issuance. This transaction aims to strengthen Zijin Mining’s strategic position and inject capital into Longking Environmental's "Environmental Protection + New Energy" strategy.

The resolution, approved unanimously by the board, marks a renewed effort by Zijin Mining after a previous attempt in July 2023 was terminated due to market conditions. The current subscription is contingent on approval from Longking Environmental's shareholders and relevant regulatory bodies. The company highlighted Longking Environmental's improved operational metrics and enhanced market value since Zijin Mining's acquisition of control in May 2022.