Metallurgical of China : Group Company Leaders Hold Meeting with Ansteel Group General Manager Yao Lin and Delegation

Group Company Leaders Hold Meeting with Ansteel Group General Manager Yao Lin and Delegation

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　　On July 2nd, Group Company President & Party Group Secretary Tang Fuping and Group Company General Manager, Party Group Deputy Secretary & MCC Group President Guo Wenqing met Ansteel Group General Manager and Party Committee Deputy Secretary Yao Lin and his delegation. Both sides conducted a thorough exchange and discussion on further strengthening their cooperation.

　　Tang Fuping welcomed Yao Lin and his delegation, expressed gratitude for the strong support the Ansteel Group has given China Minmetals and MCC Group in the long term, and introduced the Group Company's development situation in recent years, pointing out that through continuous reform and development, China Minmetals has transformed from a traditional trading enterprise to a diversified industry group primarily engaged in the metal mining industry, with a managed asset scale reaching RMB 1.68 trillion and business income of RMB 500 billion in 2017. At present, China Minmetals is forging its 'four beams and eight columns' business system, focusing on the four segments of the metal mining industry, metallurgical construction, trade logistics and financial real estate. In the metal mining industry field, China Minmetals mainly works in the acquisition, reconnaissance, selection, smelting and trading of nonferrous metal resources; iron ore resource exploitation is also an important component. In the metallurgical construction field, it occupies a domestic metallurgical construction market share of 90% and 60% worldwide. MCC Group also ranked 13th among the '25 Most Valuable Major Projects and Construction Brands Worldwide in 2018'. In the trade logistics field, China Minmetals is positively promoting traditional trade transformation and planning to build a 100-million-ton international ore trading center in Caofeidian Region, and will provide high-quality ore mixing and distribution services for iron and steel enterprises in the Tangshan Region. In the financial real estate field, its managed financial assets have reached RMB 820 billion and its subordinate Minmetals Capital possesses the full range of financial licenses; China Minmetals and the MCC Group are two of 16 central enterprises with real estate as their main business as confirmed by SASAC, and the subsidiary enterprises Minmetals Real Estate and MCC Real Estate both enjoy high popularity in the real estate industry. Tang Fuping emphasized that China Minmetals and MCC Group have maintained a stable and friendly cooperation relationship with Ansteel Group in the long term. He hopes that through communication, both sides will give further play to their own advantages, mutually learn, establish and reinforce a closer strategic cooperation relationship, and push their cooperation to bear abundant fruit as soon as possible under the principles of mutual benefits, reciprocity, cooperation and win-win results.

　　Guo Wenqing welcomed Yao Lin and his delegation and reviewed the friendly cooperation history of China Minmetals and MCC Group with the Ansteel Group, pointing out that Ansteel is the cradle of China's steel and iron industry. MCC Group is greatly honored to have participated in and witnessed Ansteel Group's construction and development, and both sides have developed a profound friendship in their cooperation over several decades. Looking forward to the future, both sides have a wide cooperation space and bright cooperation prospects, and can carry out deep communication and cooperation in the following five aspects: first, they should strengthen cooperation in the ferrous metallurgy, design and construction field. Possessing 14 Class A qualifications and forming a basic lineup of the 'national team', including eight parts and 19 business units in the metallurgical engineering field, MCC Group is a national team of metallurgical construction worthy of the name, and can provide Ansteel Group with comprehensive high-quality services. Second, they should strengthen cooperation in the field of ferrous metal mines. As Ansteel Group has rich and mature experience in the cost management of ferrous metal mines, the cost management of China Minmetals' subsidiary enterprises will be further strengthened and promoted. He hopes that they can learn from Ansteel Group through many forms of cooperation. Third, they should strengthen cooperation in the trade logistics field. In recent years, China Minmetals has accelerated the promotion of trade transition and made efforts to build a trade system characterized by 'putting both ends of the production process on the world market, both ends locked, large-volume import and export, and a closed cycle'. It is now building an international ore trading center in the Caofeidian Region and establishing more stable trade cooperation relationships with globally well-known mining companies, and he hopes to further strengthen cooperation in the field with Ansteel Group. Fourth, they should strengthen cooperation in the field of finance. The Innovation Investment Corporation and Minmetals Capital both possess strong investment and financing capability. He hopes that both sides will further strengthen their communication and open a new cooperation space. Fifth, they should strengthen enterprise management and enterprise culture exchange. Ansteel Group has mature experience in cost control, management standardization and other aspects, and profound, long-standing and exemplary cultural traditions worthy of China Minmetals' emulation; China Minmetals also has certain feelings and experience in 'going global' and 'globalization' regarding sharing and communication.

　　Yao Lin expressed gratitude for Tang Fuping and Guo Wenqing's warm reception, and the long-term support that China Minmetals and MCC Group have given Ansteel Group in its construction and development, reviewed the friendly cooperation history between Ansteel Group, China Minmetals and MCC Group, introduced Ansteel Group's production and management situation and development advantages, and expressed his high expectations for both sides to further strengthen their cooperation and realize mutual benefits and win-win results. He then pointed out that Ansteel's production and management encountered troubles in previous years due to the industrial depression. In the context of China deepening supply-side structural reform and carrying out the structural adjustment of the iron and steel industry, Ansteel Group actively seized opportunities, clarified the direction of industrial structure adjustment, deepened reform and innovative development, achieved good business results and enhanced its confidence in development. In the future, Ansteel Group will make persistent efforts to seize the market window period, rely on its own technology accumulation, increase its investment in innovation and reform, give full play to its advantages in mineral, vanadium and titanium resources, and rich cultural heritage, create new profit growth points and constantly improve the market competitiveness of the enterprise. China Minmetals has many operation businesses with a wide layout, large volume and deep trans-boundary development degree. Cooperation with China Minmetals is of important practical significance for Ansteel Group to expand its development horizons and realize stronger development. Ansteel Group has broad cooperation horizons with China Minmetals. He hopes that both sides will make their cooperation relationship closer, deepen their cooperation level, make innovations to their cooperation models, elaborately forge a platform of mutual benefits and win-win results on the basis of their existing cooperation, and positively carry out comprehensive and multi-dimensional strategic cooperation in metallurgical construction, mine management, trade logistics, finance, enterprise culture and other aspects, thereby striving to make further fruitful cooperation achievements.

　　Both sides also conducted an extensive and sufficient exchange in terms of the difficulties and problems faced in the development prospects of related industries, and the cooperation process and potential cooperation projects in many fields.

　　The meeting was attended by Group Company Leader Li Fuli, Ansteel Group leaders Li Baoqing, Jing Fengru, Shao Anlin, Duan Xiangdong and others, principals of Ansteel Group's relevant departments and subsidiary enterprises Li Zhen, Fu Wei, Long Qiang, Liu Shen, and Hong Shuli, and principals from the Group Company's relevant Headquarters departments and directly managed enterprises Wang Shilei, Wei Shuxiang, Ren Zhufeng, Yin Sisong, Xue Fei, Liu Qingchun, Xiong Xiaobing, Dong Tao, Dai Guixue, Wang Mingbao and others.