South Manganese Leadership Reshuffle Announced
SOUTH MANGANESE: Interim Report 2024
South Manganese Investment Passes New Bye-laws
South Manganese Welcomes New Non-Executive Director
There has been further progress in the dispute over the control of the billion-yuan mining company! The chairman of the board of directors of South Manganese has been removed, and the number of executive directors has increased to 5.
① There have been further developments in the battle for control of the giant manganese mining company worth billions, with 4 resolutions proposed by the largest shareholder of South Manganese approved at the shareholders' special meeting. ② Li Weijian has been removed from positions such as director, chairman, and CEO. ③ Zhang Yi has been appointed Chairman of the Board of Directors, and Pan Shenghai has been appointed Executive Director and will be appointed as the company's CEO.
South Manganese (01091.HK) dismisses the CEO and Vice President of Administration.
South Manganese (01091.HK) announced the dismissal of the company's executive director, chairman of the board, and CEO Li Weijian; the company's executive director and vice president, Li Junji, will take effect from yesterday (the 9th). After the dismissal, Li Weijian will no longer serve as the company's authorized representative, a member of the board of directors' nomination committee, or a member of the board of directors' remuneration committee. In addition, Pan Shenghai will be transferred from non-executive director to executive director starting tomorrow (the 10th), and after obtaining a work permit visa from the Hong Kong Immigration Department, he will be appointed as the company's CEO. (js/w)~
South Manganese (01091): Zhang Yi was appointed as an executive director.
South Manganese (01091) announced that due to the first and second resolutions being postponed at the shareholders' special meeting...
South Manganese Announces Board Restructuring
South Manganese Plans for Weather-Affected SGM
Did a major shareholder manipulate the manganese ore bulk trade to the detriment of the company's interests? The power struggle over the control of Nanmeng Group has ignited again.
①The confrontation between the major shareholder of South Manganese and the management of its wholly-owned subsidiary, Nan Manganese Group, is still ongoing. ②The ownership of the physical production company, Nan Manganese Group, has become the focus of industry attention. ③The company has previously disclosed manganese ore trades that have abnormal conditions and involve more related parties.
What key information points are covered in the open letter to the public from the briefing on the situation of South Manganese Group?
Recently, there have been new developments in the hotly debated issue of the ownership of control of Nanmeng Group in the Hong Kong stock market.
On the eve of the special shareholders' meeting of South Manganese (01091), South Manganese Group reported the major shareholder's violations in real name.
A banker close to Nanmeng Group confirmed to Zhitong Finance APP that the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange attach great importance to this, and the Hong Kong Stock Exchange has already intervened.
Hong Kong stock market recent development: South Manganese (01091) surged more than 19% during trading, with a mid-term shareholder net loss of 0.163 billion Hong Kong dollars, a year-on-year profit-to-loss turnaround.
South Manganese (01091) rose more than 19% during the intraday session. As of the time of writing, it has increased by 19.05%, reaching HKD 0.375, with a turnover of 4.7066 million HKD.
South Manganese Schedules Key Byelaw Amendment Meeting
South Manganese Investment Swings to Loss in H1
Hong Kong stock market outlook: China Hongqiao's net income for the first half of the year increased by 273% to 9.155 billion yuan; Hang Seng Index announced the quarterly results, involving multiple companies including New Oriental.
S&P, NASDAQ have risen for 7 consecutive days, and the three major indexes have achieved the largest weekly increase this year; important adjustments to the information disclosure mechanism for Shanghai-Hong Kong Stock Connect trading will be made on August 19; the expectation of a rate cut by the Federal Reserve has pushed gold up to $2,500, setting a new record high.
Performance: South Manganese (01091.HK) reported a half-year loss of 0.163 billion yuan, turning from profit to loss.
South Manganese (01091.HK) announced its performance for the first half of the year ending in June, with revenue of 5.733 billion yuan, a year-on-year decrease of 25.8%. It recorded a loss of 0.163 billion yuan, compared to a net profit of 0.135 billion yuan in the same period last year, resulting in a loss; the loss per share is 4.75 cents. No interim dividend will be paid.
South Manganese Faces Major Board Reshuffle
South Manganese Posts Notable Mid-Year Losses
South Manganese (01091.HK) turned from profit to loss in the first half of the year with a loss of 163 million Hong Kong dollars.
On August 16th, Gelunhui reported that in the first half of 2024, South Manganese (01091.HK) had revenue of HKD 573.33 million, a decrease of 25.9% compared to HKD 773.25 million in the first half of 2023. During the period, gross margin was 4.9%, a decrease of 3.6 percentage points from 8.5% in the first half of 2023. The company's owners' loss was HKD 162.8 million (profit of HKD 134.9 million in the first half of 2023).
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