On June 28, Yangtze Power Venture Capital Co. Ltd. (Yangtze Power VC), a subsidiary of China Yangtze Power Co., Ltd, invested RMB1B in Hubei-based Daye Nonferrous Metals Co., Ltd (Daye Nonferrous). This is the first deal for the four-month-history Yangtze Power VC.

Insiders say the total assets of Daye Nonferrous reach RMB6B, with over 40% stake held by the company itself. After the financial investment deal, Daye Nonferrous will complete its share structure reform to go public within two years.

Based on contracted agreement, Yangtze Power VC will inject another RMB1B in the future. Hubei State-owned Assets Supervision and Administration Commission (SASAC) will remain its absolute controlling right over Daye Nonferrous.