Shygys-Geo, a company in which Vladislav Ogai holds a 70% stake, ended 2025 with a net profit of 87.8 million tenge, compared to a loss of 32.2 million tenge a year earlier, according to the company's financial statements, as reported by infohub.kz.

Shygys-Geo is registered in Ust-Kamenogorsk and specializes in the search, exploration, extraction, and processing of solid minerals, as well as geological exploration work.

The company holds a license for the exploration of solid minerals in the Kurchum district of the East Kazakhstan region. The license has been extended until July 19, 2030.

As of the end of 2025, the company's shareholders were Elena Bezzemelnaya and Nazgul Kapai, each with a 15% stake, and Vladislav Ogai, who owns 70% of the business. He is also listed as the ultimate controlling party.

Vladislav Ogai is the son of entrepreneur Eduard Ogai, who ranks 15th in the Forbes ranking of Kazakhstan's richest businessmen, with an estimated fortune of $650 million. In 2025, he held the 11th spot with a fortune of $761 million.

The company's exploration assets, representing costs incurred for geological research, amounted to 190.5 million tenge at the end of 2025. Long-term financial assets stood at 26 million tenge, and retained earnings at 28.3 million tenge.

Shygys-Geo received an unsecured loan from Gornyak Artel LLP with a maturity date of end-2026 and an interest rate of 1.8%. As of the end of 2025, the outstanding debt amounted to 115.7 million tenge.

Kursiv previously reported on Gornyak Artel, which is engaged in gold ore mining in the Abai region and is owned by Adrian Roman Reinberger, a citizen of Liechtenstein. In 2025, the company posted a profit of 8 billion tenge.

Compared to the previous year, Shygys-Geo has turned from a loss to a profit. However, it is important to note that this profit was mainly driven by loan-related accounting operations. The primary source of income in 2025 was the initial recognition of received loans, which brought the company 119 million tenge. A year earlier, this figure was 31.2 million tenge. At the same time, expenses for writing off (amortizing) the discount on loans nearly halved, from 63.4 million to 31.2 million tenge.

The average headcount of the company in 2025 was two people, unchanged from the previous year.

Earlier, Kursiv reported that another company linked to Vladislav Ogai, Geo.kz, increased its net profit to 584.7 million tenge in 2025.