Promoting a new round of entrepreneurship with internationalization

December 23, Zijin Mining ushered in the 10 anniversary of the listing of H shares. Jinghe, the company's chairman, said in an interview with the Chinese Securities News reporter, in the industry trough the company will secure technology and cost advantages, to internationalization, large-scale projects, capital securities into the characteristics of pioneering the third round of business. Jinghe said that a decade ago, as the first Hong Kong-listed purple gold 2.26-0.01-0.44% Gold stocks, Zijin Mining (2899.HK) of the public offering part of the 744.3 times-fold, the stock price soared 73% on the day, won the market recognition. Ten years, the company's main economic indicators of the annual composite growth rate of about 60%, in the newly released "2013 Chinese Enterprises 500 Development Report", Zijin Mining to account for the country's 9.38% mineral gold production, contributing to the national gold enterprises to achieve the profit of 24.45%, and in 2012 China's gold and non-ferrous metals Enterprises, Achieve net profit first. In recent years, gold and copper and other metal prices continue to fall, non-ferrous metals industry into the trough. In response to this situation, Jinghe said that the group's production and management is facing the challenges of the economic cycle, but the overall assets of the Zijin is relatively good, the ability to resist risk, over the years the formation of competitive advantages such as technology and costs have the potential to further play. At the same time, falling metal prices are also a good time for Zijin mining to bring in low-cost mergers and acquisitions. The future will adhere to the market in the allocation of resources to play a decisive role in the main line, adhere to the market principle and the value of law as the core, do a good job of management and cost control, Jinghe said, in 2014 to enable its qualified enterprises to achieve a substantial increase in product production, the controllable costs and costs and management performance linkage, and through enhanced management , improve equipment and technology to improve enterprise efficiency, reduce labor costs. In addition, we plan to set the most stringent cost control measures for the loss-making enterprises, and require some smelting enterprises to turn a profit. Jinghe stressed that at the same time, the level of safety and environmental protection remain in the industry leading position, the effective implementation of social responsibility. "In addition to the challenges, we will carry out a new round of entrepreneurship, put forward a new enterprise strategic development goals." Jinghe said that adhering to the main mining industry, gold and copper, the other basic metals simultaneously, strictly controls the extension industry and the non-mine project investment; grasping big put small, give-and, continuously optimize the asset structure; adhere to internationalization, large-scale project and capital securitization to promote a new round of entrepreneurship, and strive to become the world's important gold and metal raw materials production enterprises. "According to the introduction, the company after the 1993-1999 start-up period, 2001 reform and the rapid development of the market after the period, put forward the third round of development strategy." Internationalization, large-scale projects and capital securitization are the main features of the third round of strategic development. Jinghe said, under the guidance of this plan, to 2020, the group strives to have 2-3 ore production capacity to enter the world's top five, and form a complete and advanced research and development system to form a world-class mining companies to contend with the ability. It is noteworthy that the company announced in May this year the timely repurchase no more than 10%h shares of the plan. According to statistics, August 2Since 1st, the Zijin mining industry has bought up 97.59 million shares of H shares (about 1.6% per cent of H shares), costing HK $171 million, including 4 buybacks since December and a cumulative repurchase of 42.982 million shares, costing HK $75.0458 million. Jinghe said that based on the company's May-H-Share repurchase plan and the company's judgment on its own value, the company will continue to make appropriate repurchase operations in the Hong Kong market as it sees fit.