# Jiaozuo Wanfang proposes to acquire 99.44% of Sanmenxia Aluminum for $44.5B

Jiaozuo Wanfang Aluminum (000612.SZ) announced a draft plan to acquire 99.4375% of Sanmenxia Aluminum (Kaiman Aluminum) for 319.49 billion yuan ($44.5 billion) via share issuance. The deal would create a vertically integrated aluminum producer.

- Type: Acquisition
- Announced: 2025-08-22
- Where: China
- Value: $44.5B (319.5B CNY)
- Status: announced
- Products: alumina, aluminum, caustic soda, gallium
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Sanmenxia Aluminum](https://endata.com/companies/57770.md) (target)
- [Hangzhou Jinjiang Group](https://endata.com/companies/57771.md) (investor)
- [Hangzhou Jinjiang Group](https://endata.com/companies/57771.md) (partner)
- [Jinjiang Group](https://endata.com/companies/58439.md) (partner)
- [Jiaozuo Wanfang Aluminum](https://endata.com/companies/86808.md) (acquirer)
- [Kaiman Aluminum (Sanmenxia) Co., Ltd.](https://endata.com/companies/86818.md) (target)

## Sources

- [finance.sina.com.cn](https://finance.sina.com.cn/jjxw/2025-08-23/doc-infmxtpf4312732.shtml), 2025-08-23: "拟通过发行股份的方式购买杭州锦江集团有限公司等交易对方合计持有的开曼铝业（三门峡）有限公司99.4375%股权。"
- [finance.sina.com.cn](https://finance.sina.com.cn/roll/2025-08-25/doc-infnczmr7830393.shtml), 2025-08-25: "拟作价约319亿元收购开曼铝业（三门峡）有限公司99.4375%股权。"
- [ipo123.com.cn](http://www.ipo123.com.cn/archives/63950), 2025-09-19: "焦作万方本次拟通过发行股份的方式购买锦江集团等交易对方合计持有的三门峡铝业99.4375%股权。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.