Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Former chairman Wang Xingfu sentenced to 11 years and 6 months for accepting RMB 21.58 million in bribes
Wang Xingfu, former Party secretary and chairman of Qinghai Salt Lake Industry, solicited and accepted more than RMB 21.58 million in property in matters including engineering project contracting between 2006 and 2020. In 2021 he was expelled from the Party and dismissed from public office, and was later sentenced to 11 years and 6 months in prison and fined RMB 1.7 million; the former president was sentenced the same day.
2019
'Potash King' in Bankruptcy Reorganization After 45.8 Billion Yuan Loss
Salt Lake Co. suffered consecutive losses in 2017–2018 due to blind investment in chemical and magnesium projects, posted a huge loss of 45.86 billion yuan in 2019, entered bankruptcy reorganization, and saw its market value evaporate by more than 30 billion yuan over two years. It resumed listing in 2021 after the reorganization.