Chihong Zinc & Germanium advances rare metal joint venture

Yunnan Chihong Zinc&Germanium has progressed with its joint investment in Chinalco Qianxing (Chengdu) Technology Co., Ltd., a new venture aimed at extending the rare metal industry chain. The company’s board approved the investment on August 27, 2025, and a capital contribution agreement was formally signed on October 24, 2025, with partners including China Aluminum Group Co., Ltd., Aluminum Corporation of China Limited, Yunnan Copper Industry Co., Ltd., and Chinalco Capital Holding Co., Ltd.

Chihong Zinc&Germanium's contribution to Chinalco Qianxing amounts to RMB 300 million, comprising 100% equity in Yunnan Chihong International Germanium Co., Ltd. and a cash component, securing a 20% equity stake in Chinalco Qianxing. Chinalco Qianxing completed its industrial and commercial registration and obtained its business license in Chengdu on October 28, 2025.

On November 25, 2025, Chihong Germanium finalized its industrial and commercial change registration and company articles filing, obtaining a renewed business license. As a result, the company no longer holds equity in Chihong Germanium, and Chihong Germanium will cease to be consolidated into the company's financial statements.