Western Region Gold (SH:601069) Zheng Quan Zhi Xing·2025-06-12 11:22Core Viewpoint - Western Gold Co., Ltd. plans to acquire the equity of Xinjiang Meisheng Mining Co., Ltd., and an asset appraisal report has been prepared to evaluate the total equity value of the shareholders involved in this acquisition [1][4][16]. Group 1: Company Overview - Western Gold Co., Ltd. (A-share code 601069) is a publicly listed company with a registered capital of 928,853,531 RMB, established on May 14, 2002, and is involved in non-coal mining and mineral resource exploration [5]. - Xinjiang Nonferrous Metals Industry (Group) Co., Ltd. is a state-owned enterprise with a registered capital of 1,565,356,129 RMB, established on March 15, 2002, focusing on nonferrous metal investment and sales [5]. - Xinjiang Meisheng Mining Co., Ltd. was established on August 17, 2007, with a registered capital of 26,500,000 RMB, and is a wholly-owned subsidiary of Xinjiang Nonferrous Metals Industry (Group) Co., Ltd. [6][5]. Group 2: Asset Evaluation - The asset evaluation report is based on the asset appraisal standards set by the Ministry of Finance and the China Asset Appraisal Association, employing both asset-based and income approaches to determine the market value of the equity being acquired [2][4][16]. - As of the evaluation benchmark date of December 31, 2024, Xinjiang Meisheng Mining Co., Ltd. has total assets valued at 2,203,982,700 RMB and total liabilities of 2,095,211,700 RMB, resulting in an owner's equity of 108,771,000 RMB [17][18]. - The evaluation includes various assets such as fixed assets, construction in progress, mining rights, exploration rights, and land use rights, with specific values assigned to each category [10][9][8]. Group 3: Financial Performance - The financial performance of Xinjiang Meisheng Mining Co., Ltd. shows a trend of increasing total assets from 840,118,500 RMB in 2021 to 2,203,982,700 RMB in 2024, while total liabilities also increased from 501,831,000 RMB to 2,095,211,700 RMB during the same period [14][15]. - The company reported negative net profits over the years, with losses of 41,850,000 RMB in 2021 and increasing losses reaching 35,943,000 RMB by 2024 [15].