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Chinese Brands Day, Stimulating New Brand Vitality through "Five Types of China Minmetals"

China Minmetals Corporation 2023-05-10

The brand is a concentrated demonstration of a company's product and service philosophy, value pursuit, craftsmanship spirit, corporate culture and other aspects. It is an important manifestation of a company's core competitiveness and an important factor for Chinese enterprises to achieve high-quality and sustainable development.

As a key state-owned enterprise with metal mining as its core business under the direct management of the central government, China Minmetals is accelerating the journey to build a brand of world-class powerhouse with global competitiveness in the metals and minerals industry, and striving to contribute its strength to the strategy of "strengthening the country by branding".

Development history of China Minmetals:

From its establishment in 1950 to the period right before the reform and opening up, China Minmetals, as a professional trading company, was a main channel for importing and exporting metal and mineral products, hardware products and building materials in China.

After the reform and opening up, China Minmetals began to explore diversified industrial development path in the market economic system, and became one of the pioneers in China to practice "going global".

In the new century, China Minmetals has started a strategic transformation featured by reorganization and acquisition in the metal mining industry. In particular, it implemented strategic reorganization in 2015 with China Metallurgical Group Corporation (MCC Group), also a Fortune Global 500 company, and therefore took the lead in the world to open up the whole industry chain channel from resource acquisition and exploration to project design, construction, mining and beneficiation, smelting and processing, trade and logistics. After the reorganization, the Company becomes larger in scale, diversified in type of business, and stronger in risk resistance.

In 2022, China Minmetals achieved the operating revenue of nearly CNY 900 billion and ranked 58th among the Fortune Global 500, with total assets worth over CNY 1 trillion.

At present, China Minmetals has 8 listed companies under its umbrella and develops a business system featured by "four beams and eight columns". The "four beams" consist of metals & minerals, metallurgical construction, trade & logistics, and finance & real estate. The "eight columns" are composed of mineral development, metallic materials, new energy materials, metallurgical engineering, basic construction, trade and logistics, financial services, and real estate development.

In the new era, China Minmetals has always been sticking to its original mission of serving and reinvigorating the country through the metals and minerals industry, moving towards its strategic vision of becoming a world-class powerhouse with global competitiveness in the metals and minerals industry, continuously making its key responsibility and major business even stronger, better and larger, and striving to become the "main force" and "national team" in the metals and minerals industry. It has been repeatedly rated as an A-level enterprise in the annual performance assessment and tenure assessment of the leaders of central state-owned enterprises (SOEs), writing a chapter of magnificent development that shares the burdens of the Party, fulfills its duty to the country and brings benefits to the people.

Creating a "three-dimensional and versatile" "Five Types of China Minmetals"

At the beginning of 2022, China Minmetals proposed the goal of "Five Types of China Minmetals" to vigorously promote leading innovation, effective governance, digital empowerment, safety basis and brand excellence. This stimulated new brilliance and vitality in the brand image of "China Minmetals".

What exactly is the "Five Types of China Minmetals"? Let's rediscover China Minmetals in the new era from multiple dimensions in the depiction of her portrait together!

Focusing on technological innovation to create "Innovative Minmetals"

China Minmetals has set technological innovation as the top priority for its overall development, and focused on creating five sources of original technology in the deep-sea and deep-earth exploration, metallurgical engineering, new energy, strategic metals, and digital supply chain. It strives to make technological breakthroughs in 20 mineral development projects, 20 metallurgical engineering projects, 10 metal materials, 10 new energy materials and 10 basic constructions, thus achieving the transformation from "looking for projects" to "creating projects".

At present, China Minmetals has successfully completed three key tasks in phase I of the "1025 Special Projects" for national scientific and technological breakthroughs, broken international monopolies in polysilicon production technology and key technologies for efficient and low-consumption super large blast furnaces, and completed the world's first kilometer-scale unit interlock test of submarine self-propelled polymetallic nodule mining system, as well as the world's first heat test of super electric arc furnace in the steel plant.

Shanghai Baoye Group Corp., Ltd affiliated to China Minmetals, as the construction contractor of the "Hi-tech Winter Olympics", has successfully completed the construction of Yanqing National Sliding Centre. As the project with the greatest difficulties in design and construction among the competition venues of the Beijing Winter Olympics, it has broken the monopoly of multiple construction technologies in Switzerland and South Korea, achieved multiple "firsts in China", and successfully won the Luban Prize for Construction Project. The Winter Olympics projects represented by the "Flying Snow Dragon" were hailed by the President Xi Jinping as "high-quality assets that benefit the people"!

Shenzhen Jinzhou Precision Technology Co., Ltd. affiliated to China Minmetals has developed a milling cutter with a diameter of 0.01 mm, which is a milling cutter with the smallest diameter in the world. This milling cutter can be used to mill 7 letters on a single thread of hair, and successfully mill 56 Chinese characters on a grain of rice, breaking through the "bottleneck" technology of mini-type precision cutting tools.

Focusing on governance optimization to create "Efficient Minmetals"

Corporate governance is the cornerstone of enterprise development. In order to integrate the Party's leadership into all aspects of corporate governance and fully leverage the core role of the Party's leadership, China Minmetals has created "three lists and one process" and implemented "two consistencies", (namely insisted on the Party's leadership over SOEs and implemented modern enterprise system), and promoted the transformation of institutional advantages into governance efficiency.

China Minmetals has established and improved the list for "decision making on major matters, appointment and removal of important cadres, arrangement of important projects and use of large funds", the list of core control matters, the list of headquarters decisions and management process. The decision-making matters, responsibility and authority boundaries and approval procedures of the Party Group Meeting, Board of Directors, President Meeting, Vice President, headquarters department heads and directly managed enterprises have been incorporated into one chart and one system. All 520 electronic approval processes have been embedded in the office automation system for electronic official documents, achieving the clear division of responsibility and authority of each responsibility subject and online operation of all matters and processes.

China Minmetals pays great attention to the "hard structure" of the Board of Directors, and even greater attention to the "soft power" of standardized and effective operation. 140 subsidiaries completed their establishment of the Board of Directors within one year, all realizing the majority status of outside directors. Corresponding rules and systems have been introduced to define specific requirements for the organization and meeting of the Board of Directors, as well as the fulfillment of duties and responsibilities of directors.

The authorization evaluation model has been established to coordinate the powers of the Board of Directors with differentiated power delegation and authorization. 29 important subsidiaries have been identified to take the lead in implementing the powers of the Board of Directors, centering on shaping truly independent market players and actively moving towards a corporate governance system that focuses on capital management.

Focusing on information technology to create "Digital Minmetals"

In recent years, digital transformation has become the only way for enterprises to achieve sustainable development. As early as the end of 2021, China Minmetals has been focusing on building the "digital enterprise brain" and creating a digital and intelligent control platform by taking element management as the premise, data sharing as the foundation, application scenarios as the core and digital base as the support, thus helping enterprises improve quality and efficiency and achieve twice the results with half the effort.

For example, the procurement monitoring platform of China Minmetals takes the risk warning scenario of procurement business as the core, initially realizes the digital transformation of "operation + governance" of procurement business, embodies the characteristics of real time, penetration, early warning and empowerment, and possesses the function of closed-loop management of responsibility subjects.

China Minmetals has driven new breakthroughs in areas such as intelligent prospecting, intelligent mine, intelligent plant and intelligent construction sites, and taken the lead in pilot demonstration of the Anhui iron ore project and Heilongjiang graphite project.

China ENFI Engineering Corporation affiliated to China Minmetals has successfully developed the "ICC garbage incinerator intelligent control system" and the "multi-component, high-precision digital dynamic analysis system for flame temperature" by leveraging the "big data + artificial intelligence technology", thus leading the "digital, intelligent and unmanned" trend in the environmental protection and energy industries.

Focusing on consolidating the foundation to create "Safe Minmetals"

As a central state-owned enterprise, we must resolutely shoulder the political responsibility for safe development. China Minmetals guarantees the new development pattern with the new security pattern, earnestly fulfills the responsibilities for work safety with firm determination, strong measures and strict disciplines, and continuously consolidates the defense line for safety and environmental protection.

China Minmetals improves the "1+N" comprehensive risk management system, and achieves full coverage in the horizontal and vertical directions from headquarters to all levels, from the whole project to special items, from on-the-list to off-the-list and from domestic regions to overseas.

Life and safety always come first. China Minmetals has introduced the "Ten Strict Disciplines" and "Measures Preventing Three Typical Accidents" for construction and work safety, and clearly delineated the red line for work safety. To overcome the difficulties in supervising hazardous operations, video surveillance has been added to effectively curb illegal operations and avoid typical accidents.

Emergency drills have been enhanced to improve the emergency response capabilities. In 2022, enterprises at all levels conducted a total of 1,463 emergency drills, with approximately 41,000 employees involved in the observation and learning activities, effectively improving their emergency response capabilities.

Special risk assessment has been carried out for key projects to resolutely eliminate the imported ecological and environmental risks and win the battle against environmental risks.

Focusing on enhancing soft power to create "Branded Minmetals"

According to the "Brand Excellence" standard for world-class enterprises, China Minmetals actively fulfills its social responsibility as a central SOE, and comprehensively enhances brand building through creating the leading brand, operation and maintenance, publicity and communication.

In 2022, China Minmetals sorted out the brands of its subsidiaries and established a three-level brand structure to maximize the value of its brand portfolio.

China Minmetals has actively practiced the people-centered development concept, and undertaken its responsibility for creating a peaceful and prosperous social environment.

Focusing on the major strategic needs of the country, China Minmetals adhered to the principles of "targeted, characteristic and long-term" poverty alleviation, steadily and orderly advanced poverty alleviation in 6 designated counties and 1 county with its counterpart assistance, and spared no effort to assist the areas in consolidating and expanding poverty alleviation achievements and comprehensively promoting rural revitalization.

China Minmetals regularly releases its annual sustainability report in both Chinese and English, which comprehensively and systematically discloses China Minmetals' actions and achievements in reform and development, fulfillment of responsibilities, work safety, employee growth, ecological and environmental protection, and win-win cooperation.

China Minmetals strengthens the integration and upgrading of brand promotion resources, fully utilizes the convergence media technology, and builds a brand communication system characterized by multiple-media convergence and wide interconnection.

"Five Types of China Minmetals" that focuses on practical actions

Actions speak louder than words. Action is essential.

In the first quarter of 2023, China Minmetals continued to maintain a steady development trend, achieving all year-on-year growth in operating revenue, total profit and net profit, thus laying the foundation and winning the initiative for the whole-year development with a good start.

In the future, China Minmetals will continue to: undertake the mission of building a world-class enterprise; actively implement the "Five Core Principles" of undertaking the mission of a world-class enterprise, taking the leading role of self-independent innovation, developing a problem-targeted way of thinking, pursuing perfection in quality, and cultivating the fighting spirit for success; strive to promote the "Five Action Plans" of building a family of metals, advancing industrial upgrading, cultivating industrial chains, making forward-looking strategic layout, and strengthening enterprises through talents; build the "Five Types of China Minmetals"; undertake the mission of becoming "a main force to ensure the security of resources and a national team of metallurgical construction and operation"; accelerate its efforts to build a world-class powerhouse with global competitiveness in the metals and minerals industry; strive to write a new chapter of high-quality development, and contribute China Minmetals' strength to the strategy of "strengthening the country by branding".