On October 5, Chifeng Gold held the production and operation analysis meeting for the first three quarters of 2022 in Beijing. Jianhua Wang, Chairman of the Company, and other senior management teams, department heads, management teams of subsidiaries and principals of production units attended the meeting. The meeting was chaired by Xiaozhao Lyu, Co-Chairman of the Company.

At the meeting, the general managers of various subsidiaries summarized and analyzed the production and operation situation and key work items in the first three quarters, and put forward the measures and approaches to be taken in the fourth quarter around how to achieve the annual objectives; the senior executives in charge of various subsidiaries made supplements and put forward work requirements; other senior executives made periodic reports on and summaries of the work within their terms of reference.

Chairman Jianhua Wang made an overall evaluation of the production and operation performance of various subsidiaries in the first three quarters, analyzed the expected completion of each annual index, made an in-depth analysis of the overall situation facing the Company in the next stage, and put forward overall requirements for the key work, arrangement and deployment, management team building, etc. in the fourth quarter.

Regarding the next stage of work, Jianhua Wang pointed out that there would be still many difficulties in the fourth quarter, but Chifeng Gold’s actively chose them, and feeling pressure would prove the correctness of this choice. As Inamori Kazuo said, “There are 10,000 reasons for success, but I feel hardship is the only choice”. All the successful changes that Chifeng Gold has made so far have proved the correctness of taking the initiative to choose what is more difficult and persisting in the struggle under the seemingly impossible pressure. Therefore, it’s required to unswervingly and firmly grasp the long-term goal, closely focus on the two centers of “production growth” and “cost reduction”, overcome difficulties immediately and actively, and achieve breakthrough progress and achievements in their respective fields.

Regarding the management team building, JianhuaWang pointed out that every manager must be very soberly aware that Chifeng Gold is undergoing three irreversible transformations: first, the transformation from a small and medium-sized company to a domestic industry-scale enterprise and an enterprise that investors are most concerned about; second, the transformation from dominated domestic development to international development and continuous expansion; third, the transformation from a traditional management mode to an open, diversified and international management mode. In this process, all managers should have a clear understanding and choice.

He pointed out that Chifeng Gold should mainly evaluate management personnel’s ability to cope with changes, that is, the ability to undertake and adapt to future changes. From now on, management personnel should improve their abilities at the micro level, and practice and prove their abilities in the next step of informatization, proceduralization, specialization and integration.

At the end of the meeting, Jianhua Wang stated that if Chifeng Gold would like to grow into a world-class mining company in an uncertain environment and under the background that the outside world has made pessimistic forecasts for the economy in the next few years, the Company should build a team that could cope with, adapt to, grasp and take advantage of changes for development. Chifeng Gold has always chosen an uncomfortable but correct path. It is believed that only in this way can Chifeng Gold stabilize its foothold in the fierce competition among numerous mining enterprises in the world and make achievements recognized by the world.