Tongling Nonferrous Metals Group gets approval for finance unit capital increase

Tongling Nonferrous Metals Group Co., Ltd. announced it has obtained approval from the Anhui Regulatory Bureau of the National Administration of Financial Regulation for the capital increase in Tongling Nonferrous Metals Group Finance Co., Ltd. This approval sanctions changes to the finance company's registered capital and equity structure.

Following the capital increase, Tongling Nonferrous Metals Group Finance Co., Ltd.'s registered capital will increase to RMB 2 bn. Tongling Nonferrous Metals Group will contribute RMB 1.02 bn, holding a 51.00% stake, while Tongling Nonferrous Metals Group Holding Co., Ltd. will contribute RMB 980 m, representing a 49.00% ownership. This move aims to optimize fund allocation, strengthen the finance company's capital, and reduce related-party transactions.

The company previously approved the adjustment of the investment control method for the finance company. The next step involves processing the relevant industrial and commercial registration changes with market supervision authorities.