Shenghe Resources denies controlling shareholder plans to sell stake after rumors
Chinese rare earth company Shenghe Resources issued a clarification on September 20, denying foreign media reports that a rare earth enterprise group planned to acquire its controlling stake. The company stated its controlling shareholder, the Institute of Multipurpose Utilization of Mineral Resources under the Chinese Academy of Geological Sciences, has no intention to transfer control. Shenghe reaffirmed its strategy as a responsible international supplier of key raw materials.
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Shenghe Resources Denies Media Rumor of Controlling Stake Acquisition by Rare Earth Firm
On September 20, Shenghe Resources issued a clarification statement in response to media reports, initially from foreign outlets and subsequently republished by some domestic media, alleging that a rare earth enterprise group planned to acquire a controlling stake in the company, thereby indirectly gaining access to Shenghe's overseas assets. The company stated that it had formally inquired with its controlling shareholder, the Institute of Multipurpose Utilization of Mineral Resources, Chinese Academy of Geological Sciences, which explicitly confirmed that there is no intention to transfer its controlling stake in Shenghe Resources. Shenghe Resources reaffirmed that its current development strategy remains unchanged. The company urged investors to rely solely on information published in its designated disclosure media—China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily, and the Shanghai Stock Exchange website—and to invest rationally.
Read sourceShenghe Resources Clarifies Controlling Shareholder Has No Plan to Transfer Control
Shenghe Resources (600392.SH) issued a clarification statement on September 20, responding to foreign media reports that a rare earth enterprise group planned to acquire the company's controlling stake and thereby indirectly hold its overseas assets. The company stated that these reports are false and have been republished by some domestic media. After a written inquiry, the controlling shareholder, the Institute of Multipurpose Utilization of Mineral Resources under the Chinese Academy of Geological Sciences, formally replied that it has no intention to transfer its controlling stake in Shenghe Resources. The company reaffirmed its long-standing positioning as a 'responsible international supplier of key raw materials' and stated that this development strategy remains unchanged. The clarification aims to prevent investor confusion caused by the inaccurate rumors.
Shenghe Resources Denies Rumor of Controlling Stake Sale, Reaffirms Strategy
Shenghe Resources, a Chinese rare earth company, issued an emergency clarification on March 20, denying market rumors that its controlling stake was about to be transferred. The company stated that it had formally inquired with its controlling shareholder, the Institute of Multipurpose Utilization of Mineral Resources under the Chinese Academy of Geological Sciences, which explicitly replied that there is no plan to transfer the controlling stake. Shenghe Resources reaffirmed its strategic positioning as a 'responsible international supplier of key raw materials,' stating that its development direction remains unchanged. The company focuses on rare earths as its core business, supplemented by zirconium-titanium and overseas resources, and operates three main business lines: rare earth industry chain, zirconium-titanium monazite chain, and circular economy chain. On the stock market, Shenghe Resources shares closed at 21.54 yuan on Friday, March 18, up 1.03%. The article was sourced from China-Singapore Jingwei.
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Shenghe Resources Says Controlling Shareholder Not Planning to Sell Stake
Shenghe Resources (600392) issued a clarification on September 20, responding to foreign media reports that a rare earth enterprise group planned to acquire the company's controlling stake and thereby indirectly hold its overseas assets. The company stated that it had written to its controlling shareholder, the Institute of Multipurpose Utilization of Mineral Resources, Chinese Academy of Geological Sciences (referred to as the Institute), which replied explicitly that it has no intention to transfer the company's controlling stake to any external party. The announcement aims to dispel what the company calls 'unsubstantiated rumors' that had been circulated by foreign media and subsequently republished by some domestic outlets.
Read sourceShenghe Resources Clarifies: Controlling Shareholder Not Planning to Transfer Control
Shenghe Resources, a Chinese rare earth company, issued a clarification stating that its controlling shareholder does not intend to transfer its controlling stake in the company. The clarification was made in response to market speculation, as per a reply from the company's comprehensive rare earth utilization unit. The company emphasized that after years of practice, it has developed its own distinctive characteristics and positions itself as a 'responsible international supplier of key raw materials.' It confirmed that its current development positioning has not changed. The statement was sourced from Cailian Press and reported by East Money, a Chinese financial news outlet.
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