Rui Finance Deng Rufei On June 20, Longbai Group and Oriental Zirconium Industry issued an indicative announcement regarding the change of the company’s controlling shareholder, actual controller and equity changes. The
announcement shows that Xu Gang, the company’s original controlling shareholder, actual controller, and honorary chairman, unfortunately passed away due to ineffective treatment of illness on May 20, 2024. He was 61 years old. Xu Gang did not make a will during his lifetime.
Xu Gang directly held 627 million shares of Longbai Group during his lifetime, accounting for 26.25% of the company's total shares. He was the company's original controlling shareholder and actual controller. His daughter Xu Ran inherited 500 million shares, accounting for 20.95% of the company's total share capital, and his son Xu Moumou, a minor, inherited 127 million shares, accounting for 5.3% of the company's total share capital.
Since Xu is a minor and his mother Wang Xia is the legal guardian of the minor Xu, all rights corresponding to the shares of the above-mentioned company acquired by the minor Xu through legal inheritance shall be represented by Wang Xia in accordance with the law. Exercised and registered in Wang Xia's name. The entrustment period ends on October 23, 2028 (that is, the minor Xu’s eighteenth birthday). At this point, Xu Ran holds a total of 627 million voting shares in the company, accounting for 26.25% of the company's total voting shares. Xu Ran has become the company's controlling shareholder and actual controller.
At the same time, because Longbai Group is the controlling shareholder of Dongfang Zirconium Industry, Xu Ran also became the actual controller of Dongfang Zirconium Industry.
The shareholding situation of each equity holder (and original equity holder) before and after this equity change is as follows:
Longbai Group was established on August 20, 1998. The legal representative is He Benliu, with a registered capital of 2.386 billion yuan. It is mainly engaged in Production and sales of titanium dioxide, titanium sponge, zirconium products, sulfuric acid and other products.
Xu Ran, born in 1990, holds a master's degree in business administration from Macquarie University in Australia. Xu Ran joined Longbai Group after graduation. From October 2014 to March 2017, he served as the business manager of Longbai Group. From November 2014, he was appointed as the director of Billions (Europe) Company. From May 2015, he was appointed as Billions (Americas) Company. Director, and has served as assistant to the president of Longbai Group since March 2017.
From April 2021, Xu Ran has become the vice president of the Jiaozuo Young Generation Private Entrepreneurs Association. From June 2022, he has been the director of image resources. From July 2022, he has been the vice chairman of the Jiaozuo Federation of Industry and Commerce.
As of the close of trading on June 20, Longbai Group's share price fell 2.06% to 18.55 yuan, with a total market value of 44.266 billion yuan.
Related companies: Longbai Group sz002601
