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Source: China Fund News
Trainee reporter Wen Yan
A regulatory letter involving two A-share companies!
On the evening of April 26, Humon Shares The announcement said that recently, the company's controlling shareholders Jiangxi Copper Received the Decision on Ordering Jiangxi Copper Co., Ltd. to Take Corrective Measures (hereinafter referred to as the "Decision") issued by Shandong Securities Regulatory Bureau.
The reporter noticed that on the day before the disclosure of the above regulatory letter (April 25), three independent directors of Humon Shares issued the Opinions on urging the controlling shareholders to actively implement the commitment to avoid horizontal competition.
The commitment has not been fulfilled for 60 months
The Letter of Decision shows that Jiangxi Copper obtained the control of Humon in 2019.
According to public data, Humon is mainly engaged in gold exploration, mining, beneficiation, smelting and chemical production. It is a national key gold smelting enterprise with an annual output of 50 tons of gold and 1000 tons of silver, and an additional output of 250000 tons of electrolytic copper and 1.3 million tons of sulfuric acid.
In March 2019 and June 2020, Jiangxi Copper issued the Letter of Commitment on Avoiding Horizontal Competition and the Supplementary Commitment on Avoiding Horizontal Competition respectively.
Jiangxi Copper promises to complete the record of gold reserves in the gold mine subordinate to Jiangxi Gold Co., Ltd. ("Jiangxi Gold") and obtain the mining license from the Ministry of Natural Resources within 60 months from March 2019 (Analyst Jin Qilin) The company will start the work related to the transfer of Jiangxi gold rights and interests held by the company to Humon shares within 12 months after the license, work safety license and other licenses meet the mining conditions.
The Letter of Decision shows that up to now, Jiangxi Copper has not completed the above commitments.
Shandong Securities Regulatory Bureau believes that the above behavior of Jiangxi Copper constitutes a violation of the commitment specified in Article 15 of the Guidelines for the Supervision of Listed Companies No. 4 - Commitments of Listed Companies and Their Related Parties (CSRC Announcement [2022] No. 16).
According to relevant regulations, Shandong Securities Regulatory Bureau has decided to take administrative supervision measures to Jiangxi Copper to order it to correct and record them in the integrity archive database of the securities and futures market.
Previously, institutions paid frequent attention to
The reporter noted that since the second half of 2023, the commitment period of Jiangxi Copper to avoid horizontal competition is approaching, and several institutional investors have asked Humon shares in institutional research, and the progress of the implementation of the above commitment.
At that time, Humon shares responded that the Shiwu Gold Mine, in which Jiangxi Gold has an interest, has completed the reserve record of 6.334 million tons of gold ore reserves and 2.84 kilograms of metal. At present, the exploration right of Shiwu Gold Mine is owned by Jiangxi Provincial Geological Bureau.
Due to the structural adjustment of Jiangxi geological department, the transfer of Shiwu Gold Mine was delayed. At present, the Audit Report on Completion Settlement of Exploration Project of Shiwu Gold Mine in Dexing City, Jiangxi Province has been submitted to Jiangxi Provincial Geological Bureau for confirmation of the audit results.
After interviews with Jiangxi Copper, Jiangxi Gold and Jiangxi Provincial Geological Bureau, Jiangxi Gold will complete the mining certificate of Shiwu Gold Mine after Jiangxi Gold has obtained 100% of the rights and interests of Shiwu Gold Mine.
Jiangxi Copper's main business covers the mining, smelting and processing of copper and gold; Extraction and processing of scattered metals; It is an important production base of copper, gold, silver and sulfur chemicals in China.
On the evening of April 26, Jiangxi Copper released the first quarter report of 2024, which showed that the company achieved revenue of 122.517 billion yuan in the first quarter of 2024, a year-on-year decrease of 4.08%; The net profit attributable to the parent company was 1.715 billion yuan, down 2.29% year on year.
The figure shows some financial data of Jiangxi Copper's 2024 first quarter report
As of the closing on April 26, Jiangxi Copper's share price was 26.58 yuan/share, with a total market value of 92.04 billion yuan.
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