CGN Chairman He Yu and Guo Guangchang, chairman of Fosun Group, attended a signing ceremony on Dec 15 at CGN headquarters in Shenzhen, Guangdong province initiating a strategic cooperation agreement between the two companies.
The agreement was signed by Shi Bing, senior vice president and chief accountant of CGN, and Zhang Banglong, senior assistant to the president of Fosun Group and president of Fosun Mineral Resources Group.
Under the deal, the two companies will apply their mutual advantages to forge comprehensive strategic cooperative ties for strategic collaboration, business cooperation and joint investment. They will work together to push forward cooperation in nuclear power and related industries, finance, application of nuclear technology and strategic emerging industries.
Afterward the signing, Hainan Mining Co under the Fosun Group and CGN Mining Co held an equity transfer ceremony at which Zhou Zhenxing, chairman of CGN Mining, provided the stock certificate for the company’s new shares to Liu Mingdong, chairman of Hainan Mining.
The cooperation between Hainan Mining and CGN Mining will accelerate China’s nuclear power development. Through introducing Fosun as a strategic investor, the CGN can improve its shareholder structure, optimize corporate governance, strengthen its uranium resources platform and grow into China’s and the world’s largest natural uranium producer.
According to the agreement, the two companies will make use of their advantages and respond positively to the approval of the Paris Agreement on climate change that China has provided to the United Nations. The companies will tap cooperation opportunities in nuclear power and related industries, non-nuclear clean energy, finance, and application of nuclear technology to help meet the goals of increased control of greenhouse gas emissions and a bigger share for non-fossil fuels in the primary energy consumption targets set in China’s action plans following the Paris Agreement.
