The Ust-Kamenogorsk Industrial Fittings Plant ended 2025 with a loss of 522 million tenge, compared with a profit of 1.9 billion tenge a year earlier, according to the company's financial statements, as reported by infohub.kz.
The loss is attributed to a 26% decline in revenue from customer contracts to 9.1 billion tenge, as well as higher expenses. Administrative costs rose by 182 million tenge, including increases in taxes (to 96 million tenge) and services (to 63 million tenge). Additionally, the company doubled its financial expenses to 1 billion tenge, driven by a fair value reassessment of a long-term loan.
As of end-2025, the company's loans totaled 4.1 billion tenge, up 216 million tenge over the year. Main creditors include Bank RBK (1.7 billion tenge) and UK-registered Silverman Ventures (1.79 billion tenge).
The Ust-Kamenogorsk plant specializes in manufacturing pipeline fittings for oil and gas pipelines, as well as oilfield and gasfield equipment.
80% of the plant's shares are owned by Mitsar 2013, whose owner is Gulnara Chaizhunusova. Another 10% each are held by Valentina Sim and Dinara Ashimova. According to data on affiliated persons, Gulnara Chaizhunusova appears to be the wife of company board member Sergei Chaizhunusov.
The Chaizhunusov family is well-known in East Kazakhstan and plays a significant role in the region's business and politics. The dynasty's founder was honored educator Zhakiya Chaizhunusov. His son Marken Chaizhunusov served as akim of Semey and a parliament deputy. Another son, Tokan Chaizhunusov, worked in construction, headed Vostokkazkolkhozstroy, and was president of Kazgiprotsvetmet.
In turn, his son Sergei Chaizhunusov is the founder of Kazgiprotsvetmet, a leading design company for non-ferrous metallurgy enterprises, as well as numerous other mining, trading, and agricultural companies.
In 2018, Venera, daughter of Dariga Nazarbayeva, married Sergei Chaizhunusov's younger brother Dalen Chaizhunusov.