Source: China Gold Online Network
A shares closed in September: the Shanghai Composite Index fell by more than 5% in five consecutive Yin San stock indexes.
Is it love or money behind the marriage with a difference of 26 years?
On October 7th, the wedding of Chen Jinghe, chairman of Zijin Mining, was brushed on Weibo Hot Search.
Image source: Sina Weibo
The bride said at the wedding that true love can cross and break through the boundaries of age. The groom is the owner of the largest gold mine in China, and the market value of listed companies exceeds 150 billion. The bride, Ms. Qian Bing, is an economist and M&A dealer.
The video circulating on the Internet shows that at the wedding, the bride Qian Bing teased that when she first met Chen Jinghe, the mining expert might have found that the girl in front of her was a high-grade gold mine.
The wedding is hotly debated.
It is said that in China, gold has Chen Jinghe, copper has Wang Wenyin and aluminum has Zhang Shiping.
According to the data, 63-year-old Chen Jinghe graduated from Fuzhou University with a master’s degree in geology, a professor-level senior engineer, enjoying special allowance from the State Council, a deputy to the Tenth People’s Congress of Fujian Province, and a vice president of the China Gold Association. From 1986 to 1992, he worked in Minxi Geological Brigade, was the main discoverer and exploration organizer of Zijinshan Copper Mine, and served as the chairman of Zijin Mining since 2000.
While netizens are curious about what kind of beautiful woman the chairman of this listed company with a market value of over 150 billion yuan married, the 25-year-old age difference between 63-year-old Chen Jinghe and 38-year-old newlywed wife also triggered a heated discussion among netizens. Some netizens said that they "don’t believe in love", and some netizens thought that "a perfect match is a blessing".
Net biography, the bride’s name is "Qian Bing", an American MBA, who has served as the vice president of the channel department of a famous financial company for many years, and is an economist and M&A trader. In this regard, some netizens ridiculed that this marriage is the most successful merger and acquisition made by Ms. Qian.
Image source: Netease News
Many netizens have begun to express "believe in love"
It is understood that Chen Jinghe was not married for the first time. His first wife Lai Jinlian died of illness in January 2013, and Chen Jinghe sent a special message to mourn his beloved wife.
Wind data shows that Zijin Mining has a total market value of 156.1 billion yuan and a total share capital of 25.4 billion shares. The latest share price of A shares is 6.15 yuan, and the share price of Hong Kong stocks is 5.16 Hong Kong dollars. The actual controller of Zijin Mining is Minxi Xinghang State-owned Assets Investment Management Co., Ltd.
According to the 2019 annual report, as of the end of last year, Chen Jinghe held 127 million shares, which was not among the top ten shareholders.
Image source: the company’s 2019 annual report
According to the semi-annual report of Zijin Mining in 2020, on July 27th, 2020, Chen Jinghe transferred 51 million A shares of the company to his son due to the arrangement of family property distribution. According to the latest stock price calculation, these shares are worth 314 million yuan.
Image source: 2020 semi-annual report
As of the reporting period, Chen Jinghe still holds 76.05 million shares of the company (including 15 million H shares). According to the latest stock price calculation, its market value of A shares is 375 million yuan, and the market value of Hong Kong shares is 77.4 million Hong Kong dollars.
Flying out of overseas "black swan"
In April this year, Zijin Mining announced that the company’s Bogla gold mine project in Papua New Guinea (hereinafter referred to as "Papua New Guinea") did not obtain the application for extension of the special mining rights of the Papua New Guinea government.
The data shows that from 2017 to 2019, the mineral gold of Zijin Mining was 37.48 tons, 36.5 tons and 40.83 tons respectively. In 2019, the company got 8.83 tons of equity output from Bogla Gold Mine, which was the largest source of mineral gold, accounting for about 21% of the company’s total mineral gold in that year. The company’s second and third largest gold mines did not exceed 6 tons. Zijin Mining said that the suspension of production of Pogra gold mine will have a greater impact on the company’s gold production. Affected by this, Zijin Mining’s share price plummeted by more than 9% the day after the announcement, and fell by nearly 10 billion yuan in just one day.
According to the latest news of mining journal, on September 25th, the Supreme Court of Papua New Guinea rejected the application for the renewal of the mining right of Bogla Gold Mine. The Supreme Court of Papua New Guinea also ruled that the gold mine will be operated by the Papua New Guinea state-owned enterprise Kumur Mining Holdings Co., Ltd.
Meanwhile, on September 30th, PNG Prime Minister James Marape issued a statement: "I urge barrick companies to be humble and abide by the rule of law." According to the statement, in the mining development contract signed by barrick and PNG Mineral Resources Administration in 1989, there was a clause that reserved the government’s right to Pogra Gold Mine, namely, "Pogra Gold Mine became a national asset on the date when the mining right expired, and the state did not bear any expenses or compensation."
Although the "black swan incident" was exposed, the shares of Zijin Mining A shares and Hong Kong stocks have been on the rise since March. Among them, in just 113 trading days from March 19 to September 1, the cumulative increase of A-share price was as high as 119.28%, and then it fell back.
Source: Wind
As for the decline in output that may be caused by the extension of the application for renewal of mineral rights in Bogla Gold Mine, Chuancai Securities believes that Zijin Mining’s acquisition of Buritika Gold Mine and Guiana Gold Field will increase the production capacity of 13 tons of mineral gold, which can effectively make up for the decline in output that may be caused by the extension of mineral rights in Bogla Gold Mine. In the future, the company’s mineral gold output will grow steadily and remain above 40 tons.
