Tongling Nonferrous injects CNY 792.86m into finance subsidiary

Tongling Nonferrous Metals Group [SZSE:000630] has announced it will inject CNY 792.86 million into its finance subsidiary, Tongling Nonferrous Metals Group Finance Co., Ltd., to strengthen the subsidiary's capital and operations. The move shifts away from a previously approved plan to acquire an additional 21% equity stake in the finance subsidiary. Of the total, CNY 600 million will be allocated to the finance company's registered capital, with the balance added to capital reserves. Post-injection, Tongling Nonferrous will control 51% of the finance subsidiary, with the remaining 49% held by its parent, Tongling Nonferrous Metals Group Holdings Co., Ltd. Independent directors have reviewed and approved the fairness of the transaction.