July 23, 2014 9:01 PM ET

Metals and Mining

Company Overview of China Zhongsheng Resources Holdings Limited

Company Overview

China Zhongsheng Resources Holdings Limited, an investment holding company, is engaged in the exploration, mining, and processing of iron and ilmenite ore in the People's Republic of China. It holds mining rights in the Yangzhuang Iron Mine located in Qinjiazhuang Village, Yangzhuang Town, Shandong Province; Zhuge Shangyu Ilmenite Mine, an ilmenite and magnetite mine located in Yishui County, Shandong Province; Bashan Iron Project, an iron ore project located in Yishui County; and Luxing Titanium, an ilmenite ore mine located in Yishui County, Shandong Province. The company owns exploration rights over Yangzhuang Iron Mine; Qinjiazhuang Ilmenite Project located in Qinjiazhuang District, Yish...

Qin Jia Zhuang

Yishui County

Yangzhuang,  

China

649 Employees

Key Executives for China Zhongsheng Resources Holdings Limited

Chief Executive Officer and Executive Director
Age: 44
Total Annual Compensation: $604.0K
Chairman
Age: 47
Total Annual Compensation: $941.0K
Executive Director
Age: 55
Total Annual Compensation: $479.0K
Compensation as of Fiscal Year 2013.

China Zhongsheng Resources Holdings Limited Key Developments

China Zhongsheng Resources Holdings Limited Announces Resignation and Retirement of Senior Management

The board of China Zhongsheng Resources Holdings Limited has on May 2, 2014 received a resignation letter from Mr. Huang Zhaobo, the deputy business head of the group. Mr. Huang had resigned as the deputy business head due to his other personal commitments with effect from May 2, 2014. On May 2, 2014, as reaching the age of retirement, Mr. Liu Quan Xuan, the chief ore dressing technician of the group and Mr. Gao Zefu, the deputy production head of the group and head of Yangzhuang Iron Mine had tendered their retirement application to the board. The board had accepted the retirement application of Mr. Liu and Mr. Gao with effect from 2 May 2014. Each of Mr. Huang, Mr. Liu and Mr. Gao has confirmed that they had no disagreement with the board and there were no matters relating to their resignation or retirement that need to be brought to the attention of the shareholders of the company.

China Zhongsheng Resources Holdings Limited Provides Earnings Guidance for the Six Months Ending June 30, 2014

The board of directors of China Zhongsheng Resources Holdings Limited to inform the shareholders of the company and potential investors that based on the unaudited management accounts of the Group and the management's estimate, the Group is expected to record a significant decrease in the profit for the six months ending June 30, 2014 as compared with that for the six months ended June 30, 2013. The Board considered that the expected significant decrease in the profit of the Group for the six months ending June 30, 2014 as compared with that for the six months ended June 30, 2013 was primarily attributable to, among others, (i) the non-occurrence of the one-off gain on bargain purchase (negative goodwill) of approximately RMB60.3 million arising from the acquisition of 95% of the equity interests of Linyi Luxing Titanium Co. Ltd. which has been completed in the first quarter of 2013; and (ii) decrease in average selling price of products in the first quarter of 2014.

China Zhongsheng Resources Holdings Limited, Annual General Meeting, May 30, 2014

China Zhongsheng Resources Holdings Limited, Annual General Meeting, May 30, 2014., at 15:00 China Standard Time. Location: 35/F., Central Plaza. Agenda: To receive and consider the audited consolidated accounts and reports of the directors and auditor of the Company and its subsidiaries for the year ended 31 December 2013; to re-appoint PricewaterhouseCoopers as auditor to the Company and to authorise the board of directors of the Company to fix their remuneration; to re-elect directors; and to consider other issues.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
June 24, 2014
--
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact China Zhongsheng Resources Holdings Limited, please visit www.chinazhongsheng.com.hk. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.