Western Gold: Its wholly-owned subsidiary, Xinjiang Meisheng, will continue to suspend production
2026-11-13 17:27:06
According to CoinMeta, Western Gold announced that its wholly-owned subsidiary, Xinjiang Meisheng, will temporarily suspend production starting from October 2026 in order to cooperate with the construction of the second and third phases of the tailings pond project. Due to continuous heavy snowfall in the mining area, construction and production conditions have been restricted. To prevent safety hazards caused by extreme weather, the company has decided to continue the suspension of production at Xinjiang Meisheng and will resume production and construction once safe working conditions are met. The exact time for resuming production is not yet determined. In 2025, Xinjiang Meisheng generated revenue of 1.688 billion yuan, accounting for 12.44% of the company's total revenue, and contributed a net profit of 176 million yuan to the consolidated financial statements, which represents 38.07% of the company's total net profit. This continued suspension of production will have a certain adverse effect on the company's cash flow and operating profits, although the specific impact cannot be accurately estimated at this time.
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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