Finally figured it out! Wei Qiao re-introduced state-owned shares to consolidate the shareholder base.

Recently, China Hongqiao, the world's largest aluminum company, which is listed in the aluminum sector under Wei Qiao Venture Group, announced that in order to further expand the company's shareholder base and introduce strategic investors, the company, Hongqiao Investment (Hong Kong) and Shandong Hongqiao (all indirect subsidiaries of the company) entered into a capital increase agreement with CCB Investment, and CCB Investment subscribed for 1 billion of the 6.8 billion RMB equity financing issued this time. After the capital increase is completed, Shandong Hongqiao will be held by Hongqiao Investment (HK) for about 94.52% and investors for about 5.48% respectively (Wei Qiao will subscribe for 3 billion yuan and other investors will subscribe for 2.8 billion yuan).

CCB Investment is an investment fund management company under the China Construction Bank, and a state-owned enterprise with roots in Miaohong, specializing in investment management and consulting of non-securities business.

This is after China Hongqiao, the main listed company of Wei Qiao Venture Group's aluminum plate, was shorted by overseas short sellers in 217, and CITIC Trust, a subsidiary of CITIC Group, made an emergency strategic investment of US$ 7 million in China Hongqiao, and Wei Qiao Venture Group once again introduced state-owned assets and sold part of its shares.

China Hongqiao said that introducing investors as strategic shareholders of Shandong Hongqiao will help to further deepen cooperation with strategic investors, including providing strategic resource support to the Group, and will also lay a more solid foundation for the future business development of the Group. The introduction of these strategic investors will also help the Group to further promote the operation of the Group's domestic capital market and make full use of the domestic capital market platform to enhance the capitalization level of the Group. The directors believe that the capital increase will bring positive strategic significance to the future development of the Group and will be beneficial to the long-term development of the Group.

At present, with the deepening of environmental protection requirements and this year, the policy of carbon neutrality has become more and more strict. And China's promise to the world that peak carbon dioxide emissions's goal in 23 is definitely not empty talk. The aluminum industry where Wei Qiao Venture Group is located is a big emitter, and Shandong Province where Wei Qiao is located is dominated by high energy consumption and high pollution industries, and the Wei Qiao model is the advantage of electrolytic aluminum brought by the low-cost electricity price realized by self-built power grid and coal-fired power plant. Although local governments have made it clear that carbon reduction will not be across the board, the risks brought by current policies to Wei Qiao are still high.

The pursuit of profit by capital, although it is said that you will get the greatest benefit by owning all or most of the shares, will also have many disadvantages. This time, Wei Qiao Venture Group introduced state-owned assets into Shandong Hongqiao, a subsidiary of China Hongqiao, the main listed company of its aluminum plate, and sold 1.4% of its shares for 1 billion yuan. Is it true that Weiqiao is short of this billion yuan?