The restructuring of Chinatungsten High-tech Materials Co., Ltd. (referred to as China Tungsten High-tech) listed on the Shenzhen Stock Exchange is not easy. The China Securities Regulatory Commission (CSRC) issued a notice a few days ago, approving China Tungsten High-tech Co., Ltd. to distribute non-ferrous metal products to Hunan Nonferrous Metals Co., Ltd. (referred to as Hunan Nonferrous Metals Co., Ltd.), and purchase 100,000 shares of Zhuzhou Cemented Carbide Group Co., Ltd. (referred to as Zhuhard Group) held by Hunan Nonferrous Metals Co., Ltd. And 80% equity of Zigong Cemented Carbide Co., Ltd. (referred to as self-hardening company). In other words, the Zhuhu Group, located in Zhuzhou City, has infused the listed company Tungsten High-tech. After the reorganization of Sino-Tungsten High-tech Assets, the proportion of the existing controlling shareholder of Zhuhard Group, Hunan Nonferrous, directly holding Zhongtang High-tech Co., Ltd. increased from 35.28% to 72.67% (regardless of supporting financing) and remained its controlling shareholder. “Shuqiang Group is a high-quality asset of Hunan Non-ferrous Metals. After the injection of Sino-Tungsten High-tech, it can effectively improve its performance and avoid delisting. On the other hand, Zhuhard Group can also use the platform of listed companies to achieve better development.†Founder Securities Lei Fan, a securities analyst at Zhuzhou Xinhua West Road Sales Department, said.
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