CQGAS(SH:600917) 3 6 Ke·2025-08-30 17:45Core Viewpoint - Chongqing Energy Group is accelerating asset liquidation and revitalization, including the sale of a 50% stake in its subsidiary, Xinjiang Lantian Mining Co., Ltd., for 1.737 billion yuan [1][2]. Group 1: Asset Sales - The 50% stake in Lantian Mining was initially listed for 2.172 billion yuan in July, but after two price reductions, it is now set at 1.737 billion yuan [2]. - Other assets being sold include stakes and debts in several companies, such as 95% of Jiechuang Mining (Yunnan) for 211 million yuan and 5% of Yangtze River Acetyl Chemical for 6.93 million yuan [1]. Group 2: Financial Performance of Lantian Mining - Lantian Mining reported a revenue of 198,100 yuan in 2024, with a net loss of 9.035 million yuan and total assets of 262.19 million yuan [3][4]. - The company had only 5 employees and has been facing operational challenges, including unresolved litigation and issues with fixed asset accounting [4]. Group 3: Historical Context and Ownership Changes - Lantian Mining has undergone several ownership changes since its establishment in 2009, with significant stakes previously held by Xinjiang Huaxin Mining and Anbang Insurance Group [6][5]. - The company has a mining exploration right in the Hami region, which is rich in coal resources, contributing to the high valuation of its stake despite its financial struggles [7][8]. Group 4: Corporate Restructuring - Chongqing Energy Group has undergone a restructuring process, becoming a subsidiary of China Resources Group, which has provided significant financial support to alleviate its debt burden [11][13]. - The company aims to reposition itself as a clean energy supplier and comprehensive energy service provider, focusing on optimizing its industrial structure and resource management [15][16].