Yunnan Copper to establish holding subsidiary with joint investment

Yunnan Copper (SZSE:000878) announced its decision to establish a holding subsidiary through a joint investment, as resolved at the 34th meeting of its ninth board of directors. To facilitate the plan, the board has also agreed to waive the time limit for convening this meeting. Yunnan Copper will contribute RMB 300 million in cash, holding a 60% stake. Partnering with Yunnan Copper is Liangshan Industrial Investment Development Group, contributing RMB 200 million for a 40% ownership stake. Located in the Liangshan Prefecture of Sichuan, this initiative aims to optimize Yunnan Copper's copper smelting value chain by establishing operations at the source of raw materials. The new entity will focus on smelting and processing, which is expected to enhance Yunnan Copper's competitiveness. The agreement becomes effective upon signature by both parties.