CHIFENG GOLD's stock surged 5.28% during intraday trading on Wednesday, following the announcement of a major acquisition deal that will see the company become part of the Zijin Mining Group.

The significant price movement comes after Zijin Mining Group, with a market capitalization exceeding 850 billion yuan, revealed plans to acquire control of CHIFENG GOLD through a combination of share transfer and private placement worth approximately 18.3 billion yuan. This transaction marks one of the largest mergers and acquisitions in China's A-share gold mining sector in recent years.

Under the deal, Zijin Mining's subsidiary will acquire shares from CHIFENG GOLD's controlling shareholder Li Jinyang, who will exit the company completely. Upon completion, CHIFENG GOLD will transition from a privately-owned enterprise to a company controlled by Zijin Mining, with its actual controller changing to the Finance Bureau of Shanghang County, Fujian Province. The acquisition comes as CHIFENG GOLD reported its strongest performance to date in 2025, with revenue increasing 40.03% year-on-year to 12.639 billion yuan and net profit attributable to shareholders surging 74.70% to 3.082 billion yuan.