沈阳女首富率领智汇矿业登陆H股：西藏国企入股五年，浮盈9.62亿元

Core Viewpoint - Zhihui Mining (02546.HK) successfully listed on the Hong Kong Stock Exchange on December 19, 2025, with an issue price of HKD 4.51 per share, closing at HKD 8.60, a significant increase of 90.69% on the first day [2] Group 1: Company Overview - The major shareholder of Zhihui Mining is Fan Xiulian, who also holds a significant stake in A-share listed company Haikang [2] - Zhihui Mining's market capitalization is approximately HKD 4.2 billion, with Fan Xiulian's indirect shareholding valued at around HKD 717 million [2] Group 2: Mining Assets - Zhihui Mining's core asset is the Mengya Mine located in Naqu City, Tibet, with total ore reserves of 1.0626 million tons underground and 154.8 thousand tons in open-pit mining [3] - The average grades of the ore include 4.15% zinc, 2.99% lead, 0.21% copper, and 35.05 grams per ton of silver for underground mining, and 4.89% zinc, 0.65% lead, 0.10% copper, and 9.62 grams per ton of silver for open-pit mining [3] Group 3: Shareholding Structure - Prior to listing, Zhihui Mining had a total share capital of 365.85 million shares, with two main groups of shareholders: Tibet Zhifeng Industrial Co., Ltd. and Tibet Shengyuan Mining Group [3][5] - After listing, the total share capital increased to 487.80 million shares, while the number of shares held by the two main shareholder groups remained unchanged [5] Group 4: Financial Transactions - Tibet Shengyuan Mining Group acquired its 162 million shares in Zhihui Mining by exchanging a 45% stake in another mining company for a valuation of RMB 294 million [6] - The value of the shares held by Tibet Shengyuan Mining Group has significantly appreciated, with a market value of approximately HKD 13.9 billion as of December 23, 2025, compared to the initial investment of RMB 294 million, resulting in a profit of RMB 962 million [10]