On April 19, invited by Song Zhiping, President of China Association for Public Companies, Wang Jianhua, Chairman of Chifeng Gold, made a guest appearance in the “CAPCO Living Room”, and shared his experience on how Chifeng Gold can improve its "five abilities" and achieve high-quality development. On April 27, the program was broadcast simultaneously on the client of CNR News and the official website platform of China Association for Public Companies.

“CAPCO Living Room” is a high-end dialogue and interview program created by China Association for Public Companies and CNR News, aiming at focusing on hot topics in the capital market, conveying the true voice of public companies to the whole society and witnessing the high-quality development of public companies together.

In recent years, Chairman Wang Jianhua has promoted Chifeng Gold to carry out comprehensive and profound reform and embark on a high-quality development track. Chifeng Gold's corporate governance ability and competitiveness have been highly recognized by the asset market and industry.

In an interview, Chairman Wang Jianhua said that the high-quality development of Chifeng Gold is not only reflected in standardized and transparent corporate governance, symbiotic ownership structure, clear main business and low asset-liability ratio, but also in the enterprise’s insistence on long-term doctrine, growth and high attention to the quality of return on assets.

Chifeng Gold has firmly established the strategy of "only doing the main business of gold before the market value reaches RMB 50 billion", and drastically stripped all its inefficient and low-quality assets, leaving only mining-related assets that can generate positive cash flow.

The Company has developed the "Three-year Development Strategy Plan" year by year, focusing on the increase of gold output and reserves and the reduction of costs year by year, intensifying capacity expansion and transformation, increasing prospecting and reserves, and improving the long-term return ability of the Company's assets. Although intensive infrastructure construction and investment will squeeze the existing production system and may affect some production indicators in the short term, Chifeng Gold still firmly and soberly chose the latter among short-term and long-term doctrine and chose a high-quality and sustainable development route.

The scale of Wulong Mining Concentrator has expanded from 800 tons/day in 2019 to 3,000 tons/day in 2022, and the ore processing capacity has nearly tripled; the production scale of Hanfeng Mining has increased from the original 165,000 tons/year to 600,000 tons/year, which is more than 3.6 times of the original production scale; the 1000-ton/day expansion project of Jilong Mining Concentrator has been started, and the scale after production is more than twice that of the current one; LXML realized the full-load operation of dual POX by building a new oxygen station, which doubled the processing capacity from 62 tons/hour of single POX to 124 tons/hour, and increased the processing capacity of primary ore by 60%.

By increasing prospecting and reserves and acquiring high-quality mine resources at home and abroad, the amount of gold resources owned by the Company has also greatly increased, from 96 tons at the end of 2018 to 575 tons at present, and the scale of resources has increased nearly five times.

As Chairman Wang Jianhua said in the “CAPCO Living Room”, our development is to maximize long-term value, not short-term benefits, and we should all stick to it. The continuous improvement of Chifeng Gold's production scale and resource reserves provides the foundation and guarantee for the Company's high-speed and high-quality development. Chifeng Gold is constantly refreshing its own development record and benefiting more people with the development of Chifeng Gold.

(Picture from CNR News client)