Tongling Nonferrous adjusts finance company plan, inks services agreement

Tongling Nonferrous Metals Group (SZSE:000630) is adjusting its strategy to gain greater control of its finance arm, Nonferrous Metals Finance Company. Instead of acquiring additional shares, the company will now inject capital of CNY 792.86 million into the finance company, increasing its stake to 51% and turning it into a controlled subsidiary. This will raise Nonferrous Metals Finance Company's registered capital to CNY 2 billion.