Jiangxi Special Electric Company Limited (Jiangte Electric) recently announced that its largest individual shareholder, Wang Xin, has officially become the controlling shareholder and chairman of the company. This marked a notable journey for Wang Xin, who initially entered the stock market as a regular investor but eventually rose to become the controlling shareholder of the company after nine years.
According to reports from financial sources on August 1st, Jiangte Electric confirmed that its largest individual shareholder, Wang Xin, has now joined the ranks of the company’s controlling shareholders. Back in the fourth quarter of 2017, Wang Xin held only 9.73 million shares and was just an ordinary individual investor who saw value in investing in Jiangte Electric due to its potential in the lithium mining sector.
However, after Wang Xin acquired shares, the stock price of Jiangte Electric continued to decline, eventually leading to a ST classification, which indicates high risk due to abnormal business or financial operations, with the stock price plummeting to as low as 1.25 yuan per share, a decrease of ninety percent from the average price of 12.89 yuan in the fourth quarter of 2017.
As the stock price plummeted, many investors chose to sell their shares and exit the market, while Wang Xin went against the tide and increased his holdings. By the third quarter of 2019, Wang Xin had become the company’s largest individual shareholder; during the A-share market downturn in 2020, Wang Xin continued to increase his holdings, reaching 35.63 million shares and becoming the fifth largest shareholder; in the first quarter of 2025, his holdings peaked at 50.12 million shares.
In July 2025, Wang Xin invested 315 million yuan to acquire a 50% stake in Jiangte Electric Industry, becoming the joint controlling shareholder of Jiangte Electric through upper-level equity transactions, and subsequently assuming the position of chairman of Jiangxi Jiangte.
However, financial analysts admit that Wang Xin’s path of going from a stock trader to a controlling shareholder is extremely rare in the A-share market, and for regular investors, achieving the status of a major shareholder through stock trading is nearly impossible to replicate.
Public records show that Jiangxi Special Electric Company Limited is a high-tech enterprise engaged in the research, production, and sales of special electric machinery including lifting metallurgical motors and high-voltage motors, and is a key player in the electric machinery industry. Headquartered in Yichun, Jiangxi, the company’s stock was listed on the Shenzhen Stock Exchange in October 2007.
Looking at the annual report for 2026, Jiangte Electric’s financial performance has been poor, with the company facing losses. In the first quarter of 2026, the company reported a net loss of 180 million yuan, a decrease of 316.92% compared to the same period last year. For the first half of 2026, the expected net loss is projected to expand to between 180 million and 220 million yuan.
Jiangte Electric attributed this financial struggle to the fact that their core lithium mine, Qiankeng, has not yet been exploited, leading to a heavy reliance on imported lithium ore as raw material, insufficient capacity utilization, and limited profitability in the lithium salt business.
As of July 29, 2026, the stock price of Jiangxi Jiangte stood at 7.99 yuan per share.