Sinomine Resource Group Co.,Ltd. (002738.SZ), a second-tier lithium producer in China, announced on the evening of May 6 that its controlling shareholder and certain actual controllers, along with their parties acting in concert, have completed their share reduction plan. This signifies that the relevant parties have successfully cashed out over 6 billion yuan.
The reduction plan was initially disclosed on March 21. According to the pre-announcement, China Nonferrous Metals Mining Group Co., Ltd. (the controlling shareholder), Liu Xinguo (one of the actual controllers), Chen Haizhou (one of the actual controllers), and Xiao Xiaoxia (the spouse of Wu Zhihua, an actual controller and director) planned to collectively sell no more than 7.206526 million shares via centralized bidding within three months starting 15 trading days after the announcement date. This represented no more than 0.9988% of the company's total share capital.
The latest progress announcement indicates that the reduction plans were fully executed between April 14 and April 21, 2026. Following this sale, China Nonferrous Metals Mining Group remains the controlling shareholder, holding 13.4652% of the total shares, while Liu Xinguo, Chen Haizhou, and Xiao Xiaoxia no longer hold any company shares. Based on the disclosed transaction details, the total cash proceeds from this share sale amounted to approximately 608 million yuan.
The announcement emphasized that this change in equity will not alter the company's actual control rights and is not expected to significantly impact its corporate governance or ongoing operations.
Regarding the reason for the share reduction, Sinomine Resource previously stated on an investor interaction platform that the selling parties are actual controllers and their concert parties who are not involved in the company's daily management. Their decision to sell shares was based on personal funding needs and financial arrangements.
Originally established in June 1999 as Beijing Kaifuyuan Geological Exploration Co., Ltd., which originated from the former China National Nonferrous Metals Industry Corporation system, the company underwent a joint-stock restructuring in 2008 and listed on the Shenzhen Stock Exchange in 2014, becoming the first geological exploration company to go public on the A-share market. It is now a privately-owned enterprise with China Nonferrous Metals Mining Group as its controlling shareholder.
The company's core businesses currently include the development and utilization of raw materials for the lithium battery new energy sector, as well as the development and utilization of rare light metal resources (cesium and rubidium). In the lithium business, it covers hard-rock lithium mining, lithium concentrate processing, and the production and sales of lithium compounds. Its main products include battery-grade lithium carbonate, battery-grade lithium hydroxide, and battery-grade lithium fluoride.
According to the company's 2025 annual report, the actual controllers are seven individuals: Wang Pingwei, Liu Xinguo, Wu Zhihua, Chen Haizhou, Wang Fangmiao, Wei Yunfeng, and Ou Xuegang. Among them, 65-year-old Wang Pingwei, a nationally recognized "Exploration Master," serves as Chairman and President and is the core actual controller.
In 2025, Sinomine Resource achieved operating revenue of 6.545 billion yuan, a year-on-year increase of 22.02%. However, net profit continued to decline, falling 39.54% to 458 million yuan for the full year, with a return on equity of 3.76%. For the first quarter of this year, the company reported operating revenue of 1.376 billion yuan, down 10.44% year-on-year, but net profit surged significantly to 508 million yuan, an increase of 276.68%.
As of the market close on May 6, Sinomine Resource's share price was 93.66 yuan, with a daily gain of 3.16%. Over the past year, the company's stock has accumulated a gain of over 220%, and its latest market capitalization stands at 67.575 billion yuan.
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