Zhongjin Lingnan adjusts share issuance, futures hedging plans

Shenzhen Zhongjin Lingnan Nonfemet announced adjustments to its 2025 non-public issuance of A-shares, reducing the proposed fundraising amount from up to $1.5 billion to up to $1.3 billion. Consequently, the number of shares to be issued has been adjusted from up to 401,069,518 shares to up to 351,069,283 shares, with the issue price set at $3.72 per share. These changes follow a 2024 annual profit distribution of $0.87 cash dividend per 10 shares. The company’s controlling shareholder, Guang晟 Holdings Group, will subscribe to the entire offering, constituting a related-party transaction.

To mitigate potential dilution of immediate returns from this private placement, the company has committed to several measures, including strengthening capital management, enhancing operational efficiency, and adhering to strict cash dividend policies. Furthermore, the company and its subsidiaries plan to engage in commodity futures hedging for 2026, covering copper, lead, zinc, aluminum, gold, silver, and coking coal, with a maximum margin of $800 million for non-physical delivery.

These adjustments and hedging plans were approved by the board of directors on December 22, 2025, with the hedging proposal still pending shareholder approval. The company aims to optimize its capital structure, reduce financial costs, and strengthen its core business.