Mining and Mineral Industries Holding

China Hongxing ditches shoes for gold and copper as it attempts RTO with MMIH

SINGAPORE (Nov 25): Suspended for about eight years, and counting, China Hongxing Sports is a counter that its long-suffering minority shareholders have most likely written off. A reprieve might be seen soon.

In March 2018, shareholders voted to sell the operating assets worth RMB470.7 million for just RMB100 million to the Wu family, which controls the maker of sports shoes, effectively turning the company, which had a peak market value of $3.4 billion in 2007, into an empty shell whose residual value is basically its Mainboard listing status.

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