Mei Ri Jing Ji Xin Wen·2025-09-19 13:04Core Viewpoint - Qinghai Chaidamu Xinghua Lithium Salt Co., Ltd. has been reported for illegally burying a large amount of industrial hazardous waste, leading to environmental concerns and potential regulatory actions [1][4]. Company Overview - Xinghua Company primarily produces lithium chloride and boric acid using brine resources from the Daban Dan salt lake, generating significant hazardous waste during its operations [7]. - The company has a lithium salt production capacity of 10,000 tons, with financial difficulties reflected in its 2024 revenue of 19.9 million yuan and a loss of 66.5 million yuan [8]. Shareholder Information - The major shareholders of Xinghua Company are Shenzhen Xiaozhou Investment Co., Ltd. and Yiwei Lithium Energy, which announced plans to transfer 49% of its stake in Xinghua to Shuo Beid Holdings for 600 million yuan [8][9]. - Yiwei Lithium Energy acquired its stake in Xinghua in 2022 for a total of 204 million yuan, indicating a potential profit from the upcoming sale [9]. Regulatory and Environmental Concerns - The company has faced multiple fines for environmental violations in 2023 and 2024, raising concerns about its compliance with hazardous waste management regulations [8]. - The local government has initiated an investigation into the reported illegal activities and will take legal action based on the findings [4]. Management and Control - Zhao Penglong is identified as the actual controller of Xinghua Company, with a history of legal issues and allegations of fraudulent activities [10][11]. - The company has been described as a "mining bully" due to its aggressive business practices and past disputes with partners [10].