紫金矿业入主成定局，青海前首富拱手让出藏格矿业控制权

Core Viewpoint - The control of Cangge Mining has shifted to Zijin Mining Group, which now holds 26.18% of the shares and has achieved financial consolidation despite not owning a majority stake [1][3][4]. Group 1: Control Transfer and Shareholding Changes - Zijin Mining completed the acquisition of Cangge Mining's control within four months, spending 137.29 billion yuan to acquire approximately 392 million shares at 35 yuan per share, representing 24.98% of Cangge Mining's total equity [3][4]. - Following the transfer, the shareholding of the original controller, Xiao Yongming, decreased to 20.13%, with voting rights at 15.1%, while Zijin Mining's voting rights increased to 26.18% [4]. - The board of directors of Cangge Mining underwent significant changes, with most seats now held by Zijin Mining personnel, indicating a complete shift in governance [5][6]. Group 2: Financial Performance and Market Context - Cangge Mining, a key player in the lithium mining sector, reported a total revenue of 32.51 billion yuan in 2024, a decrease of 37.79% year-on-year, and a net profit of 25.80 billion yuan, down 24.56% [7]. - The decline in revenue was attributed to falling prices of potassium chloride and lithium carbonate, with the average market price for lithium carbonate dropping by 67.04% to 90,100 yuan per ton in 2024 [7][8]. - Despite the downturn, analysts project steady growth for Cangge Mining, with expected revenues of 33.39 billion yuan, 39.88 billion yuan, and 48.63 billion yuan from 2025 to 2027, reflecting a compound annual growth rate [7].