Yasheng Group Hits Fourth Consecutive Limit-Up, 'Zhang Mengzhu' Seat Buys In! Mining Subsidiary Established 14 Years Ago

Yasheng Group's stock hit its daily limit-up for the fourth consecutive trading day on March 4, 2026, accumulating a gain of 46.54% and pushing its market capitalization above 10 billion yuan (approximately $1.45 billion USD). However, the company issued an announcement clarifying that its wholly-owned mining subsidiary, Gansu Yasheng Yuerhong Mining, established in 2012, has never obtained mining qualifications or conducted any substantive mining operations due to environmental policy restrictions as its mining area is located within a nature reserve. Notably, the prominent hot-money seat known as 'Zhang Mengzhu' made a substantial purchase of the company's shares worth 59.7533 million yuan (approximately $8.65 million USD) on March 3, just before the price surge began. This event highlights the significant risk of market speculation becoming severely disconnected from the company's fundamentals, particularly the lack of substantive progress regarding mining equipment and operational qualifications.