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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Metallurgical Corporation of China Ltd.    1618   CNE100000FF3

METALLURGICAL CORPORATION OF CHINA LTD.

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Metallurgical of China : Guo Wenqing Visits the National Bobsleigh and Tobogganing Center Project for 2022 Beijing Winter Olympics

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10/18/2020 | 01:05am EDT

Guo Wenqing Visits the National Bobsleigh and Tobogganing Center Project for 2022 Beijing Winter Olympics

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  On the morning of September 27, Guo Wenqing, General Manager and Deputy Secretary of the Party Group of China Minmetals, and concurrently Chairman of MCC, went to the National Bobsleigh and Tobogganing Center Project for the 2022 Beijing Winter Olympics undertaken by Shanghai Baoye to inspect and guide the construction. He pointed out that we should redouble our efforts to promote enterprise to achieve a new round of high-quality breakthrough development by focusing on political construction and innovating technologies. During the construction, we should pay great attention to building platforms, with leadership building as the guarantee.

  Guo Wenqing went to the project site to inspect the progress of ice making and ice repair on the track, listened to the report on the project construction, and kindly visited the ice maker team. He said that the track of National Bobsleigh and Tobogganing Center is the first bobsleigh and tobogganing track in China. To make it, as no any relevant experience the project team of Shanghai Baoye for the National Bobsleigh and Tobogganing Center has, finally, it has successfully developed eight core technologies, including the special injection material preparation and quality control technology for track construction, 10,000-meter hyperboloid refrigeration pipeline processing and molding technology, millimeter-level hyperboloid track jetting and finishing molding technology via study hard, scientific response to technical problems. It has filled a number of technological gaps in China and realized many 'the first in China'. This project fostered China's first bobsleigh and tobogganing track jetting team and ice making and repairing team, and broke the foreign monopoly on bobsleigh and tobogganing track-related technology. In addition, the project was highly appraised by the international community and fully demonstrated the talent spirit and mental attitude of MCC leaders and staff. He hoped that the project team will make persistent efforts and welcome the national team for its first training in the best conditions and status as much as it could provide.

  In the meeting room of project department, Guo Wenqing watched the promotional video of national bobsleigh and tobogganing center project, listened to the center project construction, the market development in Beijing and its surrounding areas of Shanghai Baoye, as well as the project control report entitled 'Consolidating Project Control Platform, Improving Project Control System, and Boosting Enterprise Breakthrough Development'. Guo Wenqing highly recognized the excellent achievements made by Shanghai Baoye in enterprise development and project construction, and thanked the team and front-line builders of Shanghai Baoye for their hard work. He said, in recent years, as Shanghai Baoye has always soundly moved ahead on a right road, its enterprise brands are becoming more and more famous at home and abroad. In the implementation of the development vision of 'focusing on MCC's major businesses and making it better', Shanghai Baoye, as the pioneer, fully explains the MCC's development strategy of 'being a national team of metallurgical construction, a basic construction main force, an emerging industry leader, insisting for the development with high technology and quality' with its practice and corresponding achievements based on its dominant core technology advantages. Fortunately, the deserved images of the national team, the elite troops and the leader are honed and created in the process.

  For the next step, Guo Wenqing put forward four clear requirements:

  First, Shanghai Baoye should be responsible for successfully completing the national bobsleigh and tobogganing center project in accordance with our policy construction requirements. General Secretary Xi Jinping stressed that it is the aspiration of the Chinese people to host a wonderful, extraordinary and outstanding Beijing Winter Olympics. The Winter Olympics is more than a project or a sports event, and it is even a reflection of the image of China. The national bobsleigh and tobogganing center, as the first bobsleigh and tobogganing track, is a construction project of the greatest difficulty in design and construction in the Beijing Winter Olympics competition arena, which attracts worldwide attention. It's a great honor for Shanghai Baoye to participate in the construction of the Beijing Winter Olympics. Therefore, it should definitely improve its political position, give full play to the role of a state-owned key enterprise, and focus on high standards and high levels. More specifically, it should closely supervise the smooth completion of the track, the driving of preparations for the coast-down check, and detailed implementation of the venue operation guarantee scheme. Through careful and serious completion of the blueprint for the Winter Olympics drawn by General Secretary Xi Jinping, so it can build a satisfactory Winter Olympics project.

  Second, embracing innovation-driven, forging enterprise development hard power with science and technology. Innovation is the first driver to achieve high quality development. To cope with current trend and demands, vigorously promoting scientific and technological innovation is the necessary action to foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other. The bobsleigh and tobogganing track is a high-tech project featuring complicated construction. Since the commencement of the project, Shanghai Baoye has innovated the construction technology and made a group of technological breakthroughs. Thanks to its irreplaceable advantages in the integration of the whole industrial chain, its leading core technologies as well as continuous innovation ability, Shanghai Baoye has successfully achieved track jetting and the formation of track ice-making. The winding track in mountains, looking like a flying dragon, is a real display of Shanghai Baoye's technology innovation level. We should keep strengthening the core technical advantages, and build a satisfactory project, while giving play to the leading role of major projects brand, to form a distinctive Winter Olympics industry.

  Third, enhancing the construction of project platform, to build a more solid and secure enterprise brand. A project is more than a source of profit for an enterprise or the basis of existence, and it is also the key gap and quality assessment point for the future enterprise to solve their own unbalanced and inadequate development and accelerate MCC's transition from 'surviving' to 'becoming stronger' in the new era. Since 2017 when we proposed to build a main platform for controlling projects, after three years of continuous promotion, the project management and control capability of the headquarters of subsidiaries has been greatly strengthened, and the extensive project management and control mode in the past has been changed. Nowadays, Our ideological concept is highly unified, project management level has been significantly improved, and the project quality also has realized a new breakthrough and brand influence has been raised rapidly. Next, we should carefully study and discuss, refine and summarize the successful experience and good practices that have been obtained depending on the reality, to form a pragmatic, simple, catchy and easy-to-understand development strategy and project management concept, and firmly implement it, to create a more solid high-quality corporate brand.

  Fourth, leaders taking the lead in embracing responsibility with passion and making contributions in the new era. The leadership role of a leader is very essential to the construction of enterprise development and team. Since the 'September 5' meeting in 2012, MCC has been developed well and fast, and obtained social acceptance due to citizens having a sense of gain. In the final analysis, these achievements could not have been realized without leaders' leading the way and setting an example, all staff thinking and working with one heart and one mind, and forging ahead in the correct and clear direction of 'focusing on MCC's major businesses and making it better'. Over the years, MCC's development thought and management guidance have never been swayed; instead, people's minds are determined. Everyone is walking in the same direction, thinking, acting, and marching forward in one direction. Currently, as MCC has entered into a new high quality development stage, leaders at all levels should take on their responsibilities, take the lead, work hard, forge ahead, and make solid efforts to build their teams and work style. They should remain true to the original aspiration of doing the good solid work with sincere-faith-based loyalty and passion-based loyalty; they should continue to maintain the spirit of 'no delay or slack off for a day' to build their practical style of work. Moreover, they should make great contributions and take on responsibilities during the implementation of being a national team of metallurgical construction, a basic construction main force, an emerging industry leader, insisting for the development with high technology and quality.

  Liu Caiming, Deputy General Manager, Chief Accountant and member of the Party Group of China Minmetals, and Wang Shilei, Deputy General Manager and member of the Party Group of China Minmetals participated in activities. Xue Fei, Zhang Mengxing, Cheng Dongbo, Bai Xiaohu, Wang Zirui, Zuo Zhiquan, Chen Gang, and Hao Ran, heads of the Strategic Development Department and the Safety and Environment Department of China Minmetals and MCC, attended the above activities.

  Guo Wenqing inspects the national bobsleigh and tobogganing track

  Guo Wenqing visits the ice maker team

  Guo Wenqing visits the ice maker team

  Guo Wenqing delivers a speech

  Scene of the Meeting

  Aerial view of the national bobsleigh and tobogganing center project undertaken by MCC

Disclaimer

Metallurgical Corporation of China Ltd. published this content on 18 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2020 04:04:05 UTC


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Financials
Sales 2020 433 B 55 904 M 55 904 M
Net income 2020 8 231 M 1 062 M 1 062 M
Net Debt 2020 30 449 M 3 929 M 3 929 M
P/E ratio 2020 -
Yield 2020 7,05%
Capitalization 58 177 M 7 507 M 7 507 M
EV / Sales 2020 0,20x
EV / Sales 2021 0,17x
Nbr of Employees 96 884
Free-Float 44,1%
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Average target price 1,80 HKD
Last Close Price 1,29 HKD
Spread / Highest target 39,5%
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Managers
NameTitle
Meng Xing Zhang President & Executive Director
Xiu Yun Cao Chairman-Supervisory Board
Si Song Yin Chairman-Supervisory Board
Hong Ying Zou VP, Chief Accountant & Financial Officer
Xu Dong Ren Independent Non-Executive Director
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