Shaanxi Non-ferrous Metals Holding Group Co., Ltd. Realized a YoY Increase of 91.5% In The First Half of 2018



Shaanxi Non-ferrous Metals Holding Group Co., Ltd. Realized a YoY Increase of 91.5% In The First Half of 2018

On July 23rd, 2018, Shaanxi Non-ferrous Metals Holding Group Co., Ltd. published a report. According to the report, in the first half of 2018, the Group scored satisfactory business performance, realizing profit and tax of RMB 2.44 billion (a YoY increase of 22.9%) and profit of RMB 0.87 billion (a YoY increase of 91.5%); the new project construction achieved rapid progress, fulfilling investment of RMB 3.116 billion (annual investment of RMB 5.078 billion), accounting for 62.32% of the annual target of State-owned Assets Supervision and Administration Commission of People’s Government of Shaanxi Province.

In the first half of 2018, Meixin Industry Investment Co., Ltd., affiliated to Shaanxi Non-ferrous Metals Holding Group, fulfilled investment of RMB 651 million for the 300,000 t/a aluminium magnesium alloy project, entered the final stage of electrolytic aluminium production line construction project, completed the construction of supporting power house and met the commissioning conditions; Tianhong Ruike Silicon Materials Co., Ltd., affiliated to Shaanxi Non-ferrous Metals Holding Group, fulfilled investment of RMB 109 million for electronic and photovoltaic new material industrialization project and is now carrying out system-wide production commissioning; Yulin New Materials Co., Ltd., affiliated to Shaanxi Non-ferrous Metals Holding Group, fulfilled investment of RMB 91 million for 5-unit ultra-clean emission upgrading project, and finished the upgrading of 2 units.

Reform and restructuring achieved orderly progress. As the pilot reform project, in the first half of 2018, State-Owned Capital Investment Operation Co., Ltd., affiliated to Shaanxi Non-ferrous Metals Holding Group, prepared 6 reform schemes to further define management and control model, authority and responsibility system and compensation or performance management system; disposed of 2 zombie enterprises and completed the mixed ownership reform of 2 enterprises; eliminated the social functions of enterprises, and signed official agreements for spin-off and handover of power, water and heating supply & property management; completed various comprehensive reform pilot tasks of Jinduicheng independent industrial and mining area actively promoted by the Group, which was highly recognized by State-owned Assets Supervision and Administration Commission of the State Council.

Shaanxi Non-ferrous Metals Holding Group accelerated the pace of scientific and technological innovation. In the first half of 2018, the Group undertook 53 national major special projects, 37 provincial & ministerial major special projects, submitted 32 patent applications (with 30 patents granted), presided over or participated in the formulation of 19 national standards and 35 industry standards; Jinduicheng Molybdenum Group Co., Ltd. successfully developed 3 sintering techniques for large-size high-performance molybdenum and molybdenum alloy rods, eliminating the difficulty of molybdenum-yttrium alloy sintering; BAOTI Group Co., Ltd. successfully developed the largest wide super-thick plates and large cross-section forgings made of titanium alloy with high strength and toughness in China, meeting the requirements for the R&D of full-depth pressure submersible diving chamber.

In the first half of 2018, Shaanxi Non-ferrous Metals Holding Group scored fruitful exploitation results. The Group completed a total of investment of RMB 28 million for 13 prospecting projects, which are expected to increase the resources volume, including lead and zinc of 185,000 tons, tungsten trioxide of 10,000 tons, copper metal of 8,000 tons, silver of 150 tons, gold of 5 tons, and talc ores of 500,000 tons; carried out field visit to 15 laterite nickel ore, silver-lead-zinc deposit and aluminium oxide projects at home and abroad with a purpose of continuously building new resources bases.

Meanwhile, the Group actively supported the poverty alleviation program. Two industry poverty alleviation affiliates, as the investors, continuously explored innovative operation model, improved the poverty alleviation mechanism, earnestly carried out the targeted poverty alleviation program in 5 counties & 1 district in Weinan, Shaanxi and Qianyang in Baoji, Shaanxi, and have invested a total of RMB 146 million to support 13 poverty alleviation projects in construction industry, which successfully realized the poverty alleviation of over 7,000 registered households and effectively drove the local economic and social development.