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China Minmetals Signs a Framework Agreement on Strategic Cooperation with Shenzhen Stock Exchange

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On November 28, China Minmetals and Shenzhen Stock Exchange (hereinafter referred to as SZSE) signed a framework agreement on the strategic cooperation in Shenzhen. Mr. Guo Wenqing, China Minmetals’President and Deputy Party Group Secretary and MCC Chairman and Mr. Wang Jianjun, SZSE’s General Manager and Deputy Party Group Secretary, jointly attended and witnessed the signing ceremony before which the two sides held working talks and conducted in-depth exchanges on further deepening strategic cooperation, giving full play to the functions of the capital market platform, facilitating the reform of state-owned enterprises to improve quality and efficiency, and strengthening the financial services for real economy.

Guo Wenqing expressed his thanks to the Shenzhen Stock Exchange for its care and support to China Minmetals over the years, and introduced the development since the strategic recombination of the former China Minmetals and the MCC Group, two Fortune Global 500 companies. He pointed out that China Minmetals has taken the lead in opening up the whole industry chain from resource acquisition to exploration, design, construction, mining, mineral processing, smelting, logistics and trade since the strategic reorganization in December 2015. China Minmetals, as one of the first state-owned capital investment companies in China's metal mining sector, carries the mission of ensuring the supply of national metal resources and is committed to building“the Chinese No.1 and a world-class” metal mining group. In 2018, China Minmetals’ operating income reached over RMB 500 billion and the total under-management financial assets was RMB 1.86 trillion, hitting record highs. Now, China Minmetals is building a business system featured by “four beams and eight columns” regarding metal mining, metallurgical construction, trade logistics, and finance and real estate. In the field of metals mining, China Minmetals has developed and operated world-class mines such as Las Bambas Copper Mine, Dugald River Zinc Mine, and Papua New Guinea Ramu Nickel Mine. In the field of metallurgical construction, MCC serves as a pioneer and a new force in China’s steel industry, making up 90% and 60% of the share of domestic and global metallurgical construction markets, respectively. In the field of trade logistics, China Minmetals has established trade outlets in more than 60 countries and regions around the world. In the field of finance and real estate, China Minmetals has a full financial license and robust capabilities for investment and financing and resources allocation. Minmetals Land and MCC Real Estate are two of 16 real estate enterprises identified by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). In addition, with 37 national scientific and technological innovation platforms and key laboratories, China Minmetals is a well-deserved leader in technology and innovation in central enterprises.

Guo emphasized that SZSE is the core institution and important platform of China's capital market with which China Minmetals has laid a solid foundation for cooperation. At present, China Minmetals has two listed companies in SZSE, namely, China Tungsten and Hightech Materials Co.,Ltd., which are the operations of China Minmetals' tungsten industry In the management platform, Tungsten High-tech, the operation management platform of China Minmetals' tungsten industry, and China Minmetals Rare Earth Co., Ltd., the listing platform for China Minmetals' rare earth assets, both of which have received strong support from SZSE in the operation of various capitals. We will actively take full advantage of our financial license and industrial chain to further deepen cooperation and strengthen exchanges with SZSE as well as the capital market to further advance the reform of state-owned enterprises for the preservation and appreciation of state-owned assets.

Wang Jianjun extended a warm welcome to Mr. Guo and his delegation, and expressed his appreciation for the strong support of China Minmetals. The two sides have always maintained close communication and good cooperation. The signing of the strategic cooperation framework agreement can fully realize complementary advantages and common development, and further play the role of the capital market in serving the real economy. The capital market is a "booster" and "accelerator" for the reform of state-owned enterprises which is able to provide an efficient resource allocation platform for advancing the mixed reform of state-owned enterprises. As of now, SZSE has carried out diversified docking with more than 60 state-owned enterprise groups for the better and stronger development with the use of capital markets. In the next step, SZSE will seriously advance the implementation of the key tasks of the CSRC's comprehensive deepening of capital market reforms, focus on serving the fundamental goals of high-quality economic development, improve direct financing capabilities and basic systems, enrich product supply and optimize market cultivation to better serve the reform of state-owned enterprises and the development of private enterprises for a capital market ecosystem matched with the leading socialist demonstration zones with Chinese characteristics. The strategic cooperation framework agreement signed with China Minmetals is another important measure for Shenzhen Stock Exchange to deepen strategic cooperation with central enterprises for their high-quality development. SZSE will further expand the depth and breadth of cooperation with China Minmetals for its development strategy to build a world-class enterprise.

After the talks, Guo Wenqing and Wang Jianjun witnessed the signing of the framework agreement signed by Ren Zhufeng, Vice President and Party Group Member of China Minmetals, and Wang Hong, Vice President and Party Committee Member of the Shenzhen Stock Exchange, on behalf of both sides respectively.

According to the agreement, the two parties will adhere to the principles of "long-term cooperation, compliance with laws and regulations, complementary advantages, equality and willingness, project traction, win-win innovation " in consistence with the development needs of both parties, centering on the capital operation of listed companies in the China Minmetals system, the cultivation of reserve listed companies, the expansion of diversified financing channels, the docking of the industry-finance integration platform, and the training and consulting of capital operation planning, etc., to explore the establishment of a comprehensive, multi-level, long-term stable, mutually beneficial and win-win strategic partnership.

Mr. Liu Caiming, China Minmetals' Vice President, Chief Account and Party Group Member, attended the meeting. The staff of the Shenzhen Stock Exchange including Fu Yan, Deputy Director of the Supervisory Committee of the Listed Company and Director of the Legal Department, Tan Yonghui, Director of the Fixed Income Department, Chen Feng, Director of the Listing Promotion Department, Yang Jun, Deputy Director of the Company Management Department, and Lu Wenjun, Deputy Director of the Fund Management Department participated in the above activities together with the personnel from the relevant headquarter departments and directly affiliated companies of China Minmetals including Zou Hongying, Xue Fei, Liu Lijun, Zhang Shuqiang, Li Zhongze, Huang Guoping, Xiong Xiaobing, Peng Peng, Guo Zelin.

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