Deloitte China assists listing of Zhihui Mining on SEHK
1st mining company from Xizang to list on SEHK
Deloitte China supported the successful listing of Xizang Zhihui Mining Co. – H shares ("Zhihui Mining", stock code: 02546.HK) on the Stock Exchange of Hong Kong (SEHK) on 19 December 2025.
In this global offering, Zhihui Mining issued approximately 122 million H shares with each priced at HKD4.51, raising HKD550 million in total (excluding the over-allotment option).
This IPO introduced companies, including respective wholly-owned subsidiaries of Zhaojin Mining Industry Co. (stock code: 01818.HK) and the Greater Bay Area Homeland Investments Co. as the cornerstone investors.
(From left) Xuemei Zhang, Deloitte China’s Audit & Assurance (A&A) assistant manager; Marcus Leung, Technical senior manager; Robert Lui, Southern Region Offering Services leader of the Capital Market Services Group (CMSG); Ray Yim, A&A Partner; Eros Lau, CMSG National Technical Services leader; Becky Hu, Western Region A&A leader; Li Shun, CFO of Zhihui Mining; Ernest Lee, Deloitte China Technical partner and a member of the Listing Committee of the SEHK; Dick Kay, National Leader of the CMSG; James Jiang, Western Region Offering Services Partner of the CMSG, Olina Ouyang, A&A Partner; Mandy Zhu, A&A senior manager; and Lydia Chen, A&A senior, attend the listing ceremony of Zhihui Mining at Hong Kong Stock Exchange.
(From left) Xuemei Zhang, Mandy Zhu, Marcus Leung, Eros Lau, Robert Lui, Dick Kay, He Qian, CEO of Zhihui Mining, Fan Xiulian, director of the Board of Zhihui Mining, Ernest Lee, Becky Hu, Ray Yim, James Jiang, Olina Ouyang and Lydia Chen attend the listing ceremony of Zhihui Mining at Hong Kong Stock Exchange.
Client overview
Zhihui Mining is a China-based company principally engaged in the exploration and mining of zinc, lead and copper, and the production and sales of concentrates. According to Shanghai Metal Markets, in terms of the average annual production volume in Xizang in 2024, Zhihui Mining ranked 5th for zinc concentrates, 4th for lead concentrates and 5th for copper concentrates.
Source: Zhihui Mining IPO prospectus published on 11 December 2025
Deloitte's role
As a core service institution of this new listing engagement, Deloitte China has been deeply involved in the entire process of offering reporting, fundraising and listing of Zhihui Mining. The successful listing fully demonstrates Deloitte China’s professional service capabilities in the capital market. Our engagement team collaborated closely with various professional parties, pooled efforts and continuously delivered high-quality services by virtue of profound industry accumulation and top-tier professional competence, providing end-to-end support to assist Zhihui Mining in successfully listing on the Main Board of the Stock Exchange of Hong Kong Limited.
Deloitte China congratulates Zhihui Mining on its successful listing on the SEHK. We will continue to provide high quality professional services and outstanding resources integration to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see About Deloitte to learn more.
Deloitte China provides integrated professional services, with our long-term commitment to be a leading contributor to China’s reform, opening-up and economic development. We are a globally connected firm with deep roots locally, owned by our partners in China. With over 20,000 professionals across 31 Chinese cities, we provide our clients with a one-stop shop offering world-leading audit, tax and consulting services.
We serve with integrity, uphold quality and strive to innovate. With our professional excellence, insight across industries, and intelligent technology solutions, we help clients and partners from many sectors seize opportunities, tackle challenges and attain world-class, high-quality development goals.
The Deloitte brand originated in 1845, and its name in Chinese (德勤) denotes integrity, diligence and excellence. Deloitte's global professional network of member firms now spans more than 150 countries and territories. Through our mission to make an impact that matters, we help reinforce public trust in capital markets, enable clients to transform and thrive, empower talents to be future-ready, and lead the way toward a stronger economy, a more equitable society and a sustainable world.
This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms or their related entities (collectively, the “Deloitte organization”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.
No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.
