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Shenghe Resources Clarifies: Controlling Shareholder Has No Plan to Transfer Control
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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.
Source report
Shanghai, September 20 — Shenghe Resources (600392.SH) has issued a clarification announcement addressing recent media reports regarding a potential change in its controlling shareholder.
The company stated that it has become aware of false information circulating in foreign media, suggesting that a certain rare earth enterprise group intends to acquire the company's controlling stake, thereby indirectly holding interests in the company's overseas assets. These claims have also been republished by some domestic media outlets.
To prevent such information from misleading investors, Shenghe Resources has provided the following clarification:
- The company formally requested written confirmation from its controlling shareholder, the Institute of Multipurpose Utilization of Mineral Resources, Chinese Academy of Geological Sciences.
- The Institute explicitly responded that there is no intention to transfer its controlling stake in the company to any external party.
Shenghe Resources further noted that, after years of development, the company has established its own distinctive growth path and positions itself as a "responsible international supplier of critical raw materials." The company's current development positioning remains unchanged.
Source
财联社Eastern
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Shenghe Resources denies controlling shareholder plans to transfer stake after rumors