Maybe it's the tinfoil hat I currently have on, maybe it's my subtle xenophobia, or maybe this is a genuine investment. Either way, I found the recent inclusion on the Top 20 list (see below) to be interesting.
Zenshi Group are a privately listed Chinese company headquartered in Hong Kong and registered in the Cayman Islands, seemingly worth over a billion. The only links I can find to the ASX are WR1, and a microcap (DY6) exploring for rare earths in Malawi, where they are the top shareholder with 12.82%. Back when WR1 first listed, they took 9.9% ownership, but were out (of the Top 20 at least) in H1 2023. Now they're back.
I'm probably just jumping at shadows, but my spidey senses seem to start tingling whenever Chinese interests appear on the register of any of my lithium holdings, given all the manipulation in the sector. Even if it's nothing sinister, at least it could be perceived as positive that a large Chinese business sees value here.
Chat GPT had this to say:
Zhenshi Group (HK) Heshi Composite Materials Co., Limited is a Hong Kong-based company specializing in international trading and investment holding. It is a wholly-owned subsidiary of Zhenshi Holding Group, a Chinese conglomerate established in 1989. Zhenshi Holding's diverse business interests include composite materials production, trading and logistics, special steel production, mineral development, real estate development, hotel management, tourism, healthcare, education, and financial investments.
While Zhenshi Group (HK) Heshi Composite Materials Co., Limited is primarily involved in composite materials and related sectors, there is no publicly available information indicating that the company has direct involvement in the lithium industry. However, in a 2022 Hong Kong IPO document, Zhenshi Group (HK) Heshi Composite Materials Co., Limited was listed among investors in a company related to lithium (WR1), suggesting an indirect association with the lithium sector.
Therefore, while Zhenshi Group (HK) Heshi Composite Materials Co., Limited does not appear to be directly engaged in lithium production or processing, its investment activities indicate a potential indirect link to the lithium industry.
(20min delay)