volleyballthaiturkey| Bad news! The actual controller of 50 billion A shares passed away at the age of 61

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Source: China Fund Daily

The reporter recalled the mountain

After trading on May 21, the leading titanium dioxide Longbai Group announced that Xu Gang, the company's controlling shareholder, actual controller and honorary chairman, had passed away.

At the age of 61, a man died of illness.

According to the painful announcement of the board of directors of Longbai Group, the company received notification from the family of Xu Gang, the controlling shareholder, actual controller and honorary chairman, that Xu Gang died on May 20, 2024, at the age of 61.

Longbai Group said that Xu Gang directly holds 6% of the company's shares.Volleyballthaiturkey.2.7 billion shares, accounting for 26.25% of the total shares of the company, are the controlling shareholder and actual controller of the company. The company shares held by Xu Gang will go through the succession procedures in accordance with laws and regulations, and the company will fulfill the obligation of information disclosure in time according to the progress of follow-up matters.

As Xu Gang is the honorary chairman of the company, the composition and number of the eighth board of directors are not affected, the members of the board of directors, board of supervisors and senior management team perform their duties normally, and the business of the company is carried out normally.

He was hired as honorary chairman after leaving office last year.

According to the information previously announced, Xu Gang was born in 1963 with Chinese nationality, no permanent residence abroad and a graduate degree. He has been working in Jiaozuo Chemical General Plant, the predecessor of the company since 1982, and has been the chairman of the company since the completion of the shareholding reform in 2002. He served as president of the company from April 2020 to January 2022.

Under the leadership of Xu Gang, Longbai Group successfully listed on the Shenzhen Stock Exchange, promoted the determination of major strategic directions and implementation of major projects such as chlorinated titanium dioxide, titanium sponge and new energy, and creatively carried out a series of mergers and acquisitions work such as Huntsman TR52 ink-specific titanium dioxide business, Sichuan Dragon Python Titanium Industry, Yunnan Xinli, Oriental Zirconium Industry, Jinchuan Group Sponge Titanium assets, Oriental Mining Industry and Revitalization of Mining Industry.

In April 2023, Xu Gang ceased to serve as chairman of the company after the expiration of his term of office because of his age and considering that the company had established a complete management system and cultural system. After consideration by the board of directors and the board of supervisors, he was appointed honorary chairman of the company and did not receive salary in the company, but he will provide support and help in the research and judgment of the company's industrial trend, development strategy planning, major decision-making and so on.

At the same time, after this change of office, Xu ran, the daughter of Xu Gang, was selected as a director of the eighth board of directors and currently serves as vice chairman of the company and general manager of the sales company. According to the data, Xu ran was born in 1990 with a master's degree. He has served as the company's business manager, assistant to the president, director of Bai Li Lian (Europe), and vice chairman of Jiaozuo Federation of Industry and Commerce since July 2022.

Long Bai Group said that Mr. Xu Gang, as the main founder of the company, has been conscientious, diligent and conscientious for more than 40 years, devoted all his efforts to the development of the company and made irreplaceable contributions. He is an outstanding representative of private entrepreneurs who have emerged after China's reform and opening up. Under the excellent leadership and positive promotion of Mr. Xu Gang, the company continues to optimize its governance structure, promote "replacement and continuous development of the old and the new", build a young and innovative entrepreneur team, and gather outstanding talents. to lay a solid foundation for the long-term development of the company.

All the directors, supervisors, senior managers and staff of the company extend the highest respect and heartfelt thanks to Mr. Xu Gang for his hard work and outstanding contribution to the company, and express deep condolences and deep remembrance for the death of Mr. Xu Gang. I also extend my deep condolences to the family of Mr. Xu Gang.

In addition, according to the obituary issued by Longbai Group, the company will hold a memorial service in the integrated office building of Longbai Group headquarters on May 25.

Double growth in revenue and profit in the first quarter

Data show that Longbai Group is a large-scale diversified enterprise group committed to the R & D, manufacturing and industrial integration of new materials such as titanium, zirconium and lithium, and has become a leader in the titanium industry for more than 30 years. The main products are titanium dioxide, titanium sponge, zirconium products and lithium cathode materials, the products are sold to 6 continents, more than 100 countries and regions.

In the first quarter of this year, the company achieved revenue of 7.294 billion yuan, an increase of 4.54% over the same period last year, and a net profit of 951 million yuan, an increase of 64.15% over the same period last year.

As of April 19, the company had about 100000 shareholders, according to Wind.

As of May 21, Longbai Group closed at 22.47 yuan per share, and its share price rose more than 31% during the year. The latest market capitalization of the company is 53.6 billion yuan.

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