CHALCO (02600) announced on October 24, 2025, that it has entered into a funding agreement with China Aluminum Group, Yunnan Copper Co., Ltd., Chihong Zn & Ge Co., Ltd., and Chalco Capital. Under this agreement, the parties have agreed to jointly invest in the establishment of a joint venture. After its formation, China Aluminum Group, CHALCO, Yunnan Copper, Chihong Zn & Ge, and Chalco Capital will hold equity stakes of 25%, 20%, 20%, 20%, and 15% respectively in the joint venture. Notably, this joint venture will not be classified as a subsidiary of CHALCO, and its financial performance will not be consolidated into CHALCO's accounts.

According to the funding agreement, the registered capital of the joint venture is set at RMB 1.5 billion, with China Aluminum Group and CHALCO contributing RMB 375 million and RMB 300 million, respectively. The announcement indicates that the joint venture serves as an extension platform for the rare metals industry chain built by China Aluminum Group, focusing on expanding into the downstream rare metals industry to create advanced materials that are end-user oriented, product-oriented, and high-end. CHALCO's participation in the joint venture aligns with its strategic development plan, allowing it to leverage China Aluminum Group's resource integration capabilities to enhance its global leading advantage in the functional materials sector of rare metals. Additionally, the strong business relevance between CHALCO and the joint venture will facilitate business cooperation, resource sharing, and industrial synergy, while also mitigating the risks associated with independently extending its reach into the downstream industry.