Deeply promote strategic transformation and actively respond to the financial crisis
In 2008, China Minmetals completed the annual performance appraisal task issued by the State-owned Assets Supervision and Administration Commission, and its scale efficiency continued to record a new high, maintaining its business growth for the ninth consecutive year. This was learned by the reporter on February 12 from the China Minmetals Corporation 2009 work conference.
According to Zhou Zhongshu, president of China Minmetals Corporation, at the working meeting, in 2008, under the complicated and difficult situation of serious natural disasters and the impact of the international financial crisis in China, China Minmetals was striving for stability and adjusting its business strategy in advance. In-depth promotion of strategic transformation, the annual turnover of 27.7 billion US dollars, an increase of 28%; operating income of 180.9 billion yuan, an increase of 15.9%; total profit of 7.1 billion, a return on net assets of 27.84%, the annual tax paid 5.28 billion Yuan, an increase of 20.45%, for the ninth consecutive year to maintain business growth.
According to Zhou Zhongshu, by 2009, the main business data of “five years to build a new Minmetals†have reached the standard, and the five-year development goal has been basically achieved two years ahead of schedule.
It is understood that "five years to build a new Minmetals" is a five-year development goal set by Zhou Zhongshu for China Minmetals in 2005, which means that the sales revenue of China Minmetals will be doubled in five years - from 1000 100 million yuan to achieve 200 billion, profits doubled - from 3 billion to 6 billion to 8 billion; at the same time to develop two core industries: ferrous metals and raw materials and non-ferrous metals; to form a global resource supply system, global marketing service system, Three systems of global risk management and control system; must have four capabilities: capital operation capability, management innovation capability, resource integration capability, and asset restructuring capability.
According to the business data announced by Zhou Zhongshu at the working meeting, China Minmetals has completed the five-year development goal in terms of sales revenue and profit in 2008. It is also known that in the business development of China Minmetals in 2008, the two core industries of ferrous metals and non-ferrous metals achieved a total operating value of approximately US$25.7 billion, and the combined profits accounted for 79.5% of the total group companies. The reserve capacity of core industry resources has been continuously strengthened, and new resource reserves: 30 million tons of iron ore, 100 million tons of chrome ore, 175 million tons of coking coal, and 11,000 tons of tungsten ore. The status of black and non-ferrous core industries is more prominent.
According to the 2008 operating index issued by the State-owned Assets Supervision and Administration Commission to China Minmetals with a total profit of 5.5 billion yuan and a return on net assets of 22%, Zhou Zhongshu said: "We have fully exceeded the performance evaluation indicators issued by the State-owned Assets Supervision and Administration Commission. Achieved the five-year development goal and presented a gift for the 30th anniversary of China's reform and opening up!"
At the same time, the reporter was informed that despite the difficulties brought about by the international financial crisis, China Minmetals has achieved excellent results in the past year. In the field of ferrous metals, the Anhui Muhe project, which controls 100 million tons of magnetite reserves and 30 million tons of pyrite reserves, was ranked as the top of the country's top ten prospecting achievements in 2008, and its mineral resources development capacity was further enhanced. Greatly improved; set up Hunan (Taojiang) Minerals Co., Ltd., actively build a domestic ferroalloy raw material supply base; joint venture to establish the largest steel sheet processing, warehousing and logistics center in East China - Minmetals West Electric (Changzhou) Steel Processing Co., Ltd. In the field of non-ferrous metals, it jointly acquired 100% equity of Northern Peru Copper Co., Ltd. with Jiangxi Copper, and significantly increased the reserves of non-ferrous resources; established Minmetals Quzhou Rare Earth Co., Ltd. to further improve the integration capability and market position of rare earth resources; and obtained Guan Aluminum shares (5.92) , 0.23, 4.04%) 29.9% state-owned shares, the aluminum business industry chain is further improved. In the re-evaluation of 18 AAA-level enterprises announced by China Minmetals Chemicals Chamber of Commerce in 2008, Minmetals was the first in the color. In terms of logistics, China Minmetals established five Mineral Stream Group Co., Ltd. to actively promote logistics integration services.
At the meeting of the heads of central enterprises held in December 2008, Li Rongrong, director of the State-owned Assets Supervision and Administration Commission, asked the central enterprises to set the focus of their work in 2009 as “adjusting and optimizing the levelâ€, and Zhou Zhongshu also proposed 2009 at the working meeting. In the guiding ideology of China Minmetals, he said that the SASAC regards the “adjustment and optimization of the upper level†as the focus of the work of the central enterprises in 2009, “fully in line with our actual situationâ€. He also said that China Minmetals will adhere to the strategy of steady operation and low-cost expansion, continuously improve asset quality and economic value added, optimize industrial structure and operating structure, actively capture and effectively utilize various opportunities, and strive to complete various business tasks in 2009. .
In 2008, China Minmetals completed the annual performance appraisal task issued by the State-owned Assets Supervision and Administration Commission, and its scale efficiency continued to record a new high, maintaining its business growth for the ninth consecutive year. This was learned by the reporter on February 12 from the China Minmetals Corporation 2009 work conference.
According to Zhou Zhongshu, president of China Minmetals Corporation, at the working meeting, in 2008, under the complicated and difficult situation of serious natural disasters and the impact of the international financial crisis in China, China Minmetals was striving for stability and adjusting its business strategy in advance. In-depth promotion of strategic transformation, the annual turnover of 27.7 billion US dollars, an increase of 28%; operating income of 180.9 billion yuan, an increase of 15.9%; total profit of 7.1 billion, a return on net assets of 27.84%, the annual tax paid 5.28 billion Yuan, an increase of 20.45%, for the ninth consecutive year to maintain business growth.
According to Zhou Zhongshu, by 2009, the main business data of “five years to build a new Minmetals†have reached the standard, and the five-year development goal has been basically achieved two years ahead of schedule.
It is understood that "five years to build a new Minmetals" is a five-year development goal set by Zhou Zhongshu for China Minmetals in 2005, which means that the sales revenue of China Minmetals will be doubled in five years - from 1000 100 million yuan to achieve 200 billion, profits doubled - from 3 billion to 6 billion to 8 billion; at the same time to develop two core industries: ferrous metals and raw materials and non-ferrous metals; to form a global resource supply system, global marketing service system, Three systems of global risk management and control system; must have four capabilities: capital operation capability, management innovation capability, resource integration capability, and asset restructuring capability.
According to the business data announced by Zhou Zhongshu at the working meeting, China Minmetals has completed the five-year development goal in terms of sales revenue and profit in 2008. It is also known that in the business development of China Minmetals in 2008, the two core industries of ferrous metals and non-ferrous metals achieved a total operating value of approximately US$25.7 billion, and the combined profits accounted for 79.5% of the total group companies. The reserve capacity of core industry resources has been continuously strengthened, and new resource reserves: 30 million tons of iron ore, 100 million tons of chrome ore, 175 million tons of coking coal, and 11,000 tons of tungsten ore. The status of black and non-ferrous core industries is more prominent.
According to the 2008 operating index issued by the State-owned Assets Supervision and Administration Commission to China Minmetals with a total profit of 5.5 billion yuan and a return on net assets of 22%, Zhou Zhongshu said: "We have fully exceeded the performance evaluation indicators issued by the State-owned Assets Supervision and Administration Commission. Achieved the five-year development goal and presented a gift for the 30th anniversary of China's reform and opening up!"
At the same time, the reporter was informed that despite the difficulties brought about by the international financial crisis, China Minmetals has achieved excellent results in the past year. In the field of ferrous metals, the Anhui Muhe project, which controls 100 million tons of magnetite reserves and 30 million tons of pyrite reserves, was ranked as the top of the country's top ten prospecting achievements in 2008, and its mineral resources development capacity was further enhanced. Greatly improved; set up Hunan (Taojiang) Minerals Co., Ltd., actively build a domestic ferroalloy raw material supply base; joint venture to establish the largest steel sheet processing, warehousing and logistics center in East China - Minmetals West Electric (Changzhou) Steel Processing Co., Ltd. In the field of non-ferrous metals, it jointly acquired 100% equity of Northern Peru Copper Co., Ltd. with Jiangxi Copper, and significantly increased the reserves of non-ferrous resources; established Minmetals Quzhou Rare Earth Co., Ltd. to further improve the integration capability and market position of rare earth resources; and obtained Guan Aluminum shares (5.92) , 0.23, 4.04%) 29.9% state-owned shares, the aluminum business industry chain is further improved. In the re-evaluation of 18 AAA-level enterprises announced by China Minmetals Chemicals Chamber of Commerce in 2008, Minmetals was the first in the color. In terms of logistics, China Minmetals established five Mineral Stream Group Co., Ltd. to actively promote logistics integration services.
At the meeting of the heads of central enterprises held in December 2008, Li Rongrong, director of the State-owned Assets Supervision and Administration Commission, asked the central enterprises to set the focus of their work in 2009 as “adjusting and optimizing the levelâ€, and Zhou Zhongshu also proposed 2009 at the working meeting. In the guiding ideology of China Minmetals, he said that the SASAC regards the “adjustment and optimization of the upper level†as the focus of the work of the central enterprises in 2009, “fully in line with our actual situationâ€. He also said that China Minmetals will adhere to the strategy of steady operation and low-cost expansion, continuously improve asset quality and economic value added, optimize industrial structure and operating structure, actively capture and effectively utilize various opportunities, and strive to complete various business tasks in 2009. .
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