Xizang Zhufeng's Controlling Shareholder Under CSRC Investigation

Market Watcher07-15

On July 15, Xizang Zhufeng Resources Co.,Ltd. (600338) disclosed that its controlling shareholder, Xinjiang Tacheng International Resources Co., Ltd. (referred to as "Tacheng International"), received an investigation notice from the China Securities Regulatory Commission (CSRC) due to suspected information disclosure violations.

The mining company clarified this investigation solely targets Tacheng International and won't affect daily operations or subsidiary activities. Persistent debt disputes have triggered multiple judicial auctions of Tacheng International's holdings in Xizang Zhufeng, steadily reducing its stake.

Recent disclosures reveal Tacheng International holds 28.065 million frozen shares, with its affiliate Zhonghuanji collectively controlling 7.98% of total equity. Following an unsuccessful May auction of 3.5 million shares, the same block sold for 33.725 million yuan on July 15 after 39 competitive bids on JD.com's judicial platform. This transaction would reduce their combined ownership to 7.59% upon completion.

Despite shareholder turmoil, Xizang Zhufeng demonstrates robust operational recovery. Its July 14 earnings forecast projects H1 2025 net profits between 204 million and 306 million yuan – a striking 59.31% to 138.96% year-on-year surge. This growth stems from resumed regular production capacity at subsidiary Tazhong Mining, increased sales volume, and enhanced operational efficiency lowering costs.

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