Is Hengbang a state-owned enterprise?

Yes State-owned enterprises refer to enterprises with state-owned capital holding more than 50%, while Hengbang shares refer to Shandong Hengbang Smelting Co., Ltd. with state-owned capital holding more than 50%, so it belongs to state-owned enterprises. Shandong Hengbang Smelting Co., Ltd. is a national key gold smelting enterprise. The company is mainly engaged in gold exploration, mining, mineral processing, smelting and chemical production.