Financial News Agency, December 25 (Reporter Liang Xiangcai) Investors' long-awaited asset injection has finally had an “eyebrow”. Hunan Perizhuyuan Nonferrous Metals Co., Ltd. (“Persimmon Zhuyuan” for short), which is one of the five major mines of the Minmetals Group managed by Chinatungsten Hi-Tech (000657.SZ), will become the first injection target.

This evening, Chinatungsten Hi-Tech announced that since important matters are being planned, it intends to acquire 100% of the shares held by Minmetals Tungsten Industry and Woxi Mining in Persimmon Zhuyuan by a combination of issuing shares and paying cash. Trading of the company's shares has been suspended since the opening of the market on December 26. The company expects the suspension period to be no more than 10 trading days.

In recent years, Kakizhuyuan has topped the list of Chinatungsten Hi-Tech related transactions and is one of the most important tungsten ore suppliers to listed companies.

According to the announcement of Chinatungsten Hi-Tech, the amount of tungsten compounds purchased by the company from Persimmon Zhuyuan from 2021-2022 was 1,531 billion yuan and 1,566 billion yuan respectively. The purchase volume is expected to rise further in 2024, reaching 1.83 billion yuan. This year, the amount of raw materials and products purchased by the company from Kakizhuyuan in January-November was 1,365 billion yuan, accounting for 41.13% of the company's similar related transactions.

According to reports, Chinatungsten Hi-Tech currently hosts five mining resources under its actual controller, Minmetals Group, and corresponding smelting production capacity, namely Persimmon Zhuyuan, Jiangxi Xiushui Xianglushan Tungsten Industry, Hengyang Yuanjing Tungsten Industry, Hunan Nonferrous Xintianling Tungsten Industry, and Hunan Yaogangxian Mining, which is held by Hunan Nonferrous Assets. According to the trusteeship agreement, the company charges 1 million yuan/year (performance tax included) for each trusteeship holder, with minimal contribution.

According to the company's investor interactive platform, the five mines mentioned above hold nearly 1.2 million tons of tungsten resources and produce about 25,000 tons of tungsten concentrate per year. In order to avoid competition issues in the industry, Minmetals Group, the majority shareholder of Chinatungsten Hi-Tech, has promised to inject managed mining, selection and smelting enterprises into the company when they meet the conditions.

However, these matters to be injected have always been remembered by investors. On the investor interactive platform, many investors have asked about the progress of “mine injections promised between the company and major shareholders.”

Earlier, a financial news agency reporter learned from Chinatungsten Hi-Tech as an investor, “There have always been plans to inject, and (the group) has made promises. It is necessary to meet conditions such as performance and compliance before it is possible to inject. The specific progress is that the group is advancing, and the (listed) company is not easy to grasp.”