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ZIJIN MINING Expects No Material Impact from Inclusion in UFLPA Entity List
Recommend 4 Positive 11 Negative 3 |
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In response to the inclusion in the UFLPA Entity List, ZIJIN MINING (02899.HK) released an announcement stating that the UFLPA Entity List only concerns the entities specifically included in the list, and does not extend to their subsidiaries and associates. It only prohibits the products of such listed entities from being exported to the US. It will not affect other business activities of the company and its subsidiaries, and does not prohibit any persons from trading the shares of the company. ZIJIN MINING also expressed deep regret and shock over the unsubstantiated allegations from the US Department of Homeland Security, which are not based on factual grounds. In addition, ZIJIN MINING pointed out that it has no assets in the US, and no sales income is originated from the US. The total assets, revenue, profits, etc. of the Xinjiang-based subsidiaries involved account for less than 5% of the company’s relevant indicators. It is therefore expected that the inclusion of the company and its certain Xinjiang-based subsidiaries on the UFLPA Entity List will not have a significant impact on the company. AAStocks Financial News |
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