Luoyang Molybdenum Industry announced on the evening of October 24 that the company's independent director Wang Yougui plans to increase his holdings of the company's H shares by no more than 60 million shares, and this increase will not have a price limit.
Image source: Company Announcement
Well-known independent director plans to increase his holdings
Announcement shows that Wang Yougui's increase in holdings is based on his confidence in the company's future development and recognition of the company's long-term investment value.
If calculated based on the closing price of of Luoyang Molybdenum Industry H shares on October 24, 2.41 per share and the upper limit of 60 million shares, Wang Yougui's increase in holdings this time will reach HK$145 million.
Image source: Tonghuashun
Public information shows that in 1983, Wang Yougui obtained a bachelor's degree in navigation from Shanghai Maritime University , and in 1986, he obtained a master's degree in international economics under the funding of the United Nations Economic and Social Council Asia-Pacific project, and in 1993, he obtained a degree in British Columbia University ( Vancouver ) MBA degree.
1986-1989, Wang Yougui served as secretary of the Hong Kong Merchants Group Corporation and deputy manager of the Business Development Department. In 1990, Wang Yougui joined Seaspan, Vancouver, Canada, and developed the container ship leasing business. He led Seaspan to successfully list on the motherboard on the New York Stock Exchange in 2005, and served as CEO and chairman of Seaspan (NYSE:SSW) for 12 years, making it the world's largest container ship leasing company.
In 2017, Wang Yougui stepped down from Seaspan and turned to investment and development in the field of clean energy, and founded Tiger Gas. Starting from August 3, 2018, Wang Yougui will serve as an independent director of Luoyang Molybdenum, and his term of office will be terminated in June 2024.
's performance in the first three quarters exceeded last year's
On the evening of October 23, Luoyang Molybdenum Industry released a brilliant third-quarter report.
In the first three quarters, Luoyang Molybdenum achieved operating income of 132.469 billion yuan, increased by 4.67% year-on-year; and achieved net profit attributable to shareholders of listed companies of 5.306 billion yuan, a year-on-year increase of 49.12%.
Image source: Company announcement
It is worth noting that Luoyang Molybdenum achieved a net profit of 5.106 billion yuan in 2021, and the company's net profit in the first three quarters of this year exceeded the whole year of last year.
Not long ago, Luoyang Molybdenum also joined hands with CATL , which will become its important shareholder.
related announcements show that Luoyang Guohong plans to increase its capital to Sichuan Times with its 2100% equity of Luoyang Mining Group Co., Ltd. After the completion of the
transaction, Luoyang Mining will become a wholly-owned subsidiary of Sichuan Times, and Sichuan Times will hold 24.68% of the shares of Luoyang Molybdenum through Luoyang Mining. This means that CATL will become an important shareholder of Luoyang Molybdenum.
CITIC Securities analysis pointed out that the cooperation between Luoyang Molybdenum and CATL will further confirm the cooperation between the two parties in the development of nickel ore resources, nickel metal smelting, domestic and foreign lithium resource acquisition and development, lithium cobalt nickel copper and other new energy metal resources development, and other metal varieties required for new energy.
