On June 17, 2024, Lijing Resources (02245.HK) announced that Hong Kong Blue Whale and the company's Indian partner TBP signed a shareholder agreement to establish a joint venture, including the establishment of a joint venture company.

According to the shareholder agreement, the total investment amount of the joint venture company is 60 million US dollars (equivalent to 427 million yuan), and the statutory capital is 2.5667 million US dollars (equivalent to 18.2624 million yuan). The subscription funds will be respectively made by the contracting parties according to their respective shareholding ratios in the joint venture company (60% held by Hong Kong Blue Whale and 40% by TBP).