Tibet’s Everest’s controlling shareholder’s equity was auctioned and the stock price rose by about 500 percent during the year-Finance News
2021-09-15: [Original Article Link].
On the evening of September 14th, Tibet Everest issued an announcement stating that the controlling shareholder Xinjiang Tacheng International Resources Co., Ltd. (hereinafter referred to as "Tacheng International") the company held by the infinite sale conditions shares 46.189 million unit is close to being Justice auction. The above shares account for 5.0523% of the total share capital of the company and 13.8693% of the shares held by Tacheng International.
According to the reporter's statistics, this is not the first time that Tacheng International's stock has been auctioned. July this year, Tacheng International Holdings of listed companies from 16.632 million to unit has been justice auction and has completed the transfer of shares, then to 20.12 yuan per share to about 0.33 billion yuan transaction.
However, this is not the other time. Data show that since the beginning of this year, due to the "lithium battery" "Lithium" concept, Tibet Everest stock price continued to rise, from the year's lowest price of 8.49 yuan/share, once rose to the highest price of 50.89 yuan/share, the highest cumulative increase of about 500%. As Sep 14th Tibet Everest's closing price of 49.89 yuan/share, which means that the proposed auction of equity market capitalization of about 2.3 billion yuan.
According to the introduction of Mount Everest in Tibet, the starting unit price of this stock is 90% of the average closing price of the stock on 20 trading days before September 30, 2021, and the bidding price that does not exceed the disposal of the starting unit price is invalid. The stock price rose so high during the year, will the controlling shareholder's above-mentioned auction shares have a pick-up?
It is understood that Mount Everest in Tibet focuses on the production of non-ferrous metal mines, and is implementing the project development of Salt Lake basic lithium salt products. Through the holding of Everest Resources (Hong Kong) Company, the company is implementing an expansion project for the development of lithium salt products in Anchres brine lithium in one of the two wholly-owned subsidiaries of the Argentine Republic of South America.
2020 is the most difficult year for the company to grow. Data show that last year the company's operating income of 1.13 billion yuan, down 49.31% year-to-year; Implement attributable to shareholders of the listed company of the net profit of 30.58 million billion yuan, down 94.9% year-to-year. In this context, the stock price of Mount Everest in Tibet continued to adjust. According to the instructions issued by Tacheng International, its stock pledge financing business with Huarong Securities Co., Ltd. failed to redeem on time, and the company fell into an equity pledge crisis.
Note: This is auto-translated version of an article meant for Chinese audience. A mature and nuanced reading is suggested.