Aluminum Corporation of China Limited (Chalco) has officially created a joint venture with Chinalco, Yunnan Copper, Chihong Zinc & Germanium, and Chinalco Capital through a capital contribution agreement. These partners are each taking different equity stakes.
The new entity will operate independently and will not be a subsidiary of Chalco, meaning its financial results won’t be included in the company’s consolidated accounts.
As a connected transaction under Hong Kong Listing Rules, the formation requires reporting and public announcement, but doesn’t need approvals from independent shareholders.