Cu-Ni-PGE deposits bearing intrusions are contemporaneous with Emeishan continental flood basalts,crops out in western part of Yangtze craton, southwestern China. They as a whole are believed to be linked genetically with mantle plume activities in Permian-Triassic boundary. By a case study on Jinbaoshan ultramafic intrusion,Yunnan,it shows that the intrusion have genetical connection with lower Ti Emeishan basalt in litho-geochemistry. They are counterpart of parental magma evolution process. The original magma experienced about 12% fractionation of olivine crystallization and segregation of sulfide. The fractionated olivine and segregated sulfide accumulated in the lower part of magma chamber mixed with some residual melt, forming "crystal-liquid mush",intruded to be mafic-ultramafic intrusion. Most part of the residual melt erupted out to become the Lower Ti Emeishan continental flood basalts. They are cogenetic rocks in different occurrence.