Core Viewpoint - Jinling Mining has suspended the public transfer of its wholly-owned subsidiary, Jingshan Mining, due to a lack of interested buyers despite multiple attempts to sell the asset package valued at approximately 184 million yuan [1][2][3] Group 1: Asset Transfer Attempts - The initial public offering for the 100% equity and debt of Jingshan Mining began on May 29, with a base price of 184 million yuan, but failed to attract qualified buyers [2] - After two unsuccessful attempts to sell the asset, Jinling Mining announced the suspension of the transfer project, marking nearly five months of efforts without success [2][3] Group 2: Financial Implications - The suspension of the asset transfer will delay the recovery of funds, as Jinling Mining holds a debt of 644 million yuan against Jingshan Mining, which was expected to be partially recovered through the sale [3] - Jingshan Mining is in a precarious financial position, with total assets of only 18.65 million yuan and total liabilities of 646 million yuan, resulting in a negative net asset of 627 million yuan [3][4] Group 3: Core Asset Challenges - The core asset, the Qiaopuka Iron Mine mining rights, was revoked in 2017 due to environmental policies and has faced significant challenges in resuming production, requiring substantial reinvestment [4] - Although the mining rights were reacquired in June 2024 and valued at 160 million yuan, the path to monetizing this asset remains fraught with difficulties, including the need for new safety and environmental approvals [4]
铁矿相关资产今年两次挂牌转让无人问津,金岭矿业“甩包袱”计划暂停