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Shenghe Resources

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2018

    Former Controlling Shareholder of Shenghe Resources Non-Operationally Occupied Funds; Several Directors Warned Over Short-Swing Trading

    An inquiry letter from the Sichuan Securities Regulatory Bureau (Chuan Zheng Jian Gong Si [2018] No. 33) noted that Shenghe Resources had non-operational occupation of funds by its former controlling shareholder and related parties, with an ending balance of RMB 33.0254 million, and that most of the guarantee deposit the coking group promised to deposit in a jointly managed account had been deducted and frozen by courts. In 2019, independent director Gu Xiujuan was issued a warning letter by the Sichuan Securities Regulatory Bureau for short-swing trading; in 2021, director Huang Ping was issued a warning letter for failing to attend the board meeting reviewing the semi-annual report; in the same year, shareholder Juxing Group's mistaken operation constituted short-swing trading. Previously, the Shanxi Securities Regulatory Bureau had issued a regulatory attention letter regarding information disclosure, related-party transactions, accounting, and failure to accrue safety production expenses. Status: regulatory measures. Entity involved: Shenghe Resources Holding Co., Ltd. Scope: Shenghe Resources' corporate governance and information disclosure.

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