Jinxun Resources (03636) offered shares from December 31 to January 6, and received a subscription of about US$60.26 million from Cornerstone Investment

According to the Zhitong Finance App, Jinxun Resources (03636) will raise shares from December 31, 2025 to January 6, 2025. The company plans to sell 367.656 million H shares globally, of which Hong Kong sales account for 10%, international sales account for 90%, and overallotment rights of 15%. The sale price of each share is HK$30. H shares will be traded with 200 H shares per trading unit. It is expected that H shares will begin trading on the Stock Exchange at 9:00 a.m. on January 9, 2026 (Friday).

We are a leading manufacturer of high-quality cathode copper and have a strong influence in the Democratic Republic of the Congo (DRC) and Zambia. According to Frost & Sullivan, as of December 31, 2024, we ranked 5th among Chinese cathode copper producers in terms of production in the Democratic Republic of the Congo (DRC) and Zambia, and the only top 5 Chinese company in the two jurisdictions. Specifically, we will produce approximately 16,000 tons and 5,000 tons of cathode copper in the Democratic Republic of the Congo (DRC) and Zambia respectively in 2024. Among private enterprises in China, in terms of production in 2024, we are ranked third in the Democratic Republic of the Congo (DRC), accounting for 0.9% of the market share, and number one in Zambia, accounting for 0.8% of the market share.

For 2022, 2023, 2024, and the six months ended 2024 and June 30, 2025, our revenue was RMB 637 million, RMB 676 million, RMB 1.77 billion, RMB 596 million and RMB 964 million, respectively. Our net profit for 2022, 2023, 2024 and the six months ended 2024 and June 30, 2025 was RMB83.5 million, RMB29.1 million, RMB202 million, RMB93.1 million and RMB135 million, respectively.

We have concluded cornerstone investment agreements with Cornerstone investors Glencore AG, Stoneylake Global, North Rock, Huaxia Fund (Hong Kong), New Asia Fuyi, Consortium Group, Zhengxin Group and Sunwoda Treasury. Cornerstone Investors have agreed to subscribe for the relevant number of shares with a total sale price of approximately US$60.26 million under certain conditions.

We estimate that assuming the offering price is HK$30.0 per share and that the over-allotment rights are not exercised, we will collect approximately HK$1,042.6 billion in net proceeds from the global offering. Of this, about 80% will be used to expand our core business; about 10% will be used to repay some of our interest-bearing bank loans; and about 10% will be used for working capital and general corporate purposes.