Shang Hai Zheng Quan Bao·2026-01-19 19:27Core Viewpoint - Jiangxi Copper Co., Ltd. has signed a cooperation framework agreement with China Ordnance Material Group Co., Ltd. to engage in the purchase and sale of products such as cathode copper, crude copper, and electrolytic nickel, which is classified as a related party transaction due to the ownership structure [2][6]. Group 1: Agreement Overview - The agreement primarily involves the purchase and sale of cathode copper, crude copper, and electrolytic nickel [2][31]. - China Ordnance Material Group holds a 29.52% stake in Jiangxi Copper's subsidiary, Jiangxi Copper International Trade Co., Ltd., making it a related party under the Hong Kong Stock Exchange rules [2][6]. - The board of directors approved the related party transaction, with related directors abstaining from voting, and it does not require shareholder approval [2][6]. Group 2: Financial and Operational Details - As of the end of 2024, China Ordnance Material Group reported total assets of 2,205,946 thousand RMB and net assets of 446,882 thousand RMB, with a revenue of 4,727,253 thousand RMB and a net profit of 29,085 thousand RMB for the year [4]. - The agreement is set to be effective from January 1, 2026, to December 31, 2028, allowing for the procurement of cathode copper and electrolytic nickel from both domestic and international sources [16][30]. Group 3: Impact on the Company - The collaboration with China Ordnance Material Group is expected to enhance Jiangxi Copper's market competitiveness and brand influence, facilitating efficient integration of resources within the non-ferrous metal industry [31].