crashgamblingfree| Xu Gang, the actual controller of Longbai Group, the leader in titanium dioxide, died of illness, and his daughter born in the 1990s was promoted to the board of directors in one year.

Xu Gang, founder of Longbai Group

On May 21, the official website of the domestic titanium dioxide leading Longbai Group Co., Ltd. issued an obituary that the founder and honorary chairman of the group, Comrade Xu Gang, died at 5: 00 p.m. on May 20, 2024 at the age of 61.

On the evening of May 21, Longbai Group (002601)Crashgamblingfree.SZ) issue a notice to disclose the above information. Xu Gang directly holds 626515969 shares of Longbai Group, accounting for 26.25% of the total shares of the company, and is the controlling shareholder and actual controller of the company.

On the same day, 002167.SZ, a subsidiary of Longbai Group, also announcedCrashgamblingfreeThe above news.

As of May 21, the share price of Longbai Group was 22.47 yuan per share, down 2.22%, and the company's total market capitalization was 53.62 billion yuan. Oriental zirconium industry closed at 7.01 yuan per share, down 4.37%, with a total market capitalization of 5.432 billion yuan.

The history of Longbai Group can be traced back to the General Chemical Plant of Jiaozuo City, Henan Province in 1975, when it was an enterprise owned by the whole people under the Bureau of Chemical Industry of Jiaozuo City. After many restructuring, in 2002, it was renamed Henan Baililian Chemical Co., Ltd. (hereinafter referred to as "Baililian"). In 2011, Bai Li Lian was listed on the main board of the Shenzhen Stock Exchange.

It is worth mentioning that nearly five years after listing, that is, in 2016, Baililian spent 9 billion yuan on the acquisition of Sichuan Dragon Python Titanium Industry Co., Ltd., an industry leader, and staged a "snake swallowing elephant" merger and acquisition drama in the domestic titanium dioxide industry. Since then, Bai Li Lian has become the largest titanium dioxide producer in Asia and the fourth largest titanium dioxide producer in the world, and the incident was also regarded as a typical case of industrial consolidation and mergers and acquisitions through capital market financing.

In 2017, the company changed its name to Longbai Group Co., Ltd. (stock name "Longbai Group Co., Ltd."); in 2021, the company changed its name to Longbai Group Co., Ltd.

According to the previous announcement, Xu Gang, who is of Chinese nationality and has no permanent right of abode abroad, was born in April 1963 with a postgraduate degree. He once served as secretary of the Youth League Committee, deputy chief of sales and deputy director of operation of the above-mentioned Jiaozuo General Chemical Plant, chairman and general manager after the transformation of the joint-stock cooperative system of the general chemical plant, and secretary of the party committee and chairman of Haoke Chemical Industry. He has been chairman of the company since July 2002.

Longbai Group wrote in the announcement: Mr. Xu Gang, as the main founder of the company, has been conscientious, diligent and conscientious for more than 40 years, devoted all his efforts to the development of the company and made irreplaceable contributions. He is an outstanding representative of private entrepreneurs who have emerged after China's reform and opening up. Under the excellent leadership and positive promotion of Mr. Xu Gang, the company continues to optimize its governance structure, promote "replacement and continuous development of the old and the new", build a young and innovative entrepreneur team, and gather outstanding talents. to lay a solid foundation for the long-term development of the company.

At present, Longbai Group has positioned itself as a large and diversified enterprise group committed to the R & D and manufacturing of new materials and the deep integration of the industry. in addition to the original products, it has also officially entered the field of new energy in 2021.

The company's annual report in 2023 shows that the company's main products are titanium dioxide, sponge titanium, zirconium products and lithium electrode materials, among which titanium dioxide production capacity is 1.51 million tons / year, sponge titanium production capacity is 50,000 tons / year, the scale is among the highest in the world; lithium iron phosphate production capacity is 50, 000 tons / year, iron phosphate capacity is 100000 tons / year, graphite negative electrode capacity is 25000 tons / year, graphitization capacity is 50, 000 tons / year. In addition, zirconium products are operated by Dongfang Zirconium, a subsidiary of the company.

In the past 2023, Longbai Group's revenue was 26.765 billion yuan, an increase of 11.00% compared with the same period last year (year-on-year); the net profit belonging to shareholders of listed companies was 3.226 billion yuan, down 5.64% from the same period last year. In the first quarter of this year, the company's revenue was 7.288 billion yuan, an increase of 4.52% over the same period last year; the net profit belonging to shareholders of listed companies was 951 million yuan, an increase of 64.15% over the same period last year.

In addition, it is worth noting that in April last year, Longbai Group has officially completed the replacement of managers.

On March 30, 2023, Longbai Group announced that in order to maintain the vitality and competitiveness of the company for a long time, realize the beautiful vision of "one hundred years of excellence in the world", and further optimize corporate governance, the company imposed restrictions on the nomination and age of non-independent directors, that is, in principle, non-independent directors over the age of 60 shall not be nominated or served as non-independent directors of the company and written into the articles of Association of the company. Set a good example at the company's "top-level design" level, promote the company's "replacement and continuous development of the old and the new", build a young and innovative entrepreneur team, and meet new challenges in the new economic structure.

Xu Gang, the seventh chairman of the board of directors, was born in 1963. Due to his age and considering that the company has established a complete management system and cultural system, he will no longer serve as a director after the expiration of his term of office, according to the announcement. At the same time, Xu Gang nominated and Benliu, Xu ran, Wu Pensen, Shen Qingfei, Chen Jian and Wang Xudong as non-independent director candidates for the eighth board of directors, of which Xu ran is Xu Gang's daughter.

According to his resume, he is 56 years old. he was deputy general manager of the company from 2005 to January 2015, general manager from January 2015 to December 2016, executive vice president and director of personnel administration from December 2016 to January 2022, director of the company from April 2020 to the present, president from January 2022 to April 2023, and chairman of the company since April 2023.

Xu Gang's daughter, Xu ran, was born in 1990. She is of Chinese nationality and has no permanent residence abroad. She has a master's degree. He has served as the business manager of the company from October 2014 to March 2017, a director of Baililian (Europe) since November 2014, a director of Bailian (America) since May 2015, an assistant president of the company from March 2017 to April 2023, vice president of Jiaozuo Young Generation Private Entrepreneur Federation since April 2021, a director of Image ResourcesNL since June 2022, and vice chairman of Jiaozuo Federation of Industry and Commerce since July 2022. He has been vice chairman of the company and general manager of the sales company since April 2023.

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