On April 18, Mr. Guo Wenqing, China Minmetals’ President and Party Group Deputy Secretary and MCC Chairman and Party Committee Secretary, met with a delegation led by Mr. Shen Hui, founder and CEO of Shanghai WM Motor Technology Co., Ltd. The two sides to exchange views on further cooperation.
Mr. Guo Wenqing extended a warm welcome to the guests. Then, he briefed them on the state of development and business performance in the first quarter since the strategic recombination of China Minmetals and MCC, two Fortune 500 companies. Mr. Guo pointed out that China Minmetals is the only state-owned capital investment company in the Chinese metal mining industry and shoulders a critical mission of safeguarding the national supply of metal resources. The company is committed to growing into a country-leading and world-class metal mining group. At present, the assets under the management of China Minmetals amount to 1.68 trillion yuan, and the company has 200,000 employees. In the field of financial services, China Minmetals is one of the only three central SOEs licensed for all financial services and has strong capacity of investment, financing and resources allocation. MCC is the national team for metallurgical development and takes up 90% of the domestic market and 60% of the global market. In particular, it has excellent management and operation capabilities in EPC projects.
Mr. Guo Wenqing emphasized that the new energy vehicle industry is an emerging industry with national strategic significance. Currently, China Minmetals is focusing on the battery material resources for new energy vehicles and is actively engaged in promoting the development of new power plates. The company has not only successfully run the Ramu nickel and cobalt project within Papua New Guinea whose reserves rank in the world’s top three, but also accelerated the integration of manganese ore resources in China, as well as the progress of battery material projects like Changyuan Lico lithium-ion battery cathode materials project, MCC Ramu’s Caofeidian lithium battery materials project, and China Minmetals salt lake lithium extraction project. China Minmetals is willing to establish a long-term and all-around cooperative relationship with WM Motor to deepen the cooperation in the field of battery materials for new energy vehicles. Meanwhile, the company would like to expand and deepen cooperation in financial services, engineering construction and related strategic investment projects to achieve mutual benefits and common development.
Mr. Shen Hui thanked Mr. Guo for the hospitality and expressed his appreciation for the remarkable achievement made by China Minmetals and MCC after the strategic recombination. He then introduced the WM Moto’s strategic vision and progress of related projects. Mr. Shen said that WM Moto has accumulated profound experience in the R&D, production, and market operation for new energy vehicles, and boasts great advantages in the aspects of supply chain management, cost control, and industrial integration. He said that WM Moto now ranks the 18th among the “unicorn companies” listed by the Torch Center of Chinese Ministry of Science & Technology. China Minmetals is a leading company in China's metal mining industry. The two companies have much cooperation potential in the fields of battery materials for new energy vehicles as well as battery R&D and recycling. Mr. Shen hoped that both parties will establish long-term and close cooperation to jointly promote the popularization of new energy vehicles.
Jiang Xin, China Minmetals’ CFO and member of the Party Group, and Zhang Zhaoxiang, China Minmetals’ Vice President and member of Party Group, MCC’s President and Party Secretary attended the meeting. They were accompanied by Zhang Ran, Chen Guohai, Xie Feng, and Liu Zhaohui from WM Motor, as well as Zhang Mengxing, Liu Qingchun, Li Yuzhuo, Qian Wenchao, Xiong Xiaobing, Shao Bo, Chen Xingwu, Chang Wei, Chang Qi, Bai Xiaohu and Sun Wei from China Minmetals’ head office, directly affiliated units, MCC, Minmetals Development, Minmetals Capital, China Minmetals HK (Holdings), and Investment & Development Company, including.
