Gold Molybdenum clarifies the resignation of the three executives, the original collective rose to the parent company

According to the Securities Daily reported on July 7th, Kim Mo shares announced the resignation of senior executives issued on the evening of July 5, the company’s chairman Ma Baoping, general manager Zhang Jixiang and chief accountant Ma Xiangzhi also submitted their resignations on July 5, and their The resignation report will take effect when it is delivered to the board of directors.

According to the announcement, during the period when the chairman of the company was unable to perform his duties, Ma Baoping, vice chairman, performed the duties of the chairman. Information on the July 6 Kim Mo-shares shows that the company’s legal representative has been changed to Ma Baoping.

The resignation announcement is like a whirlwind of turmoil, because the announcement did not clearly explain the reasons for the resignation of the three senior executives. The resignation of the three key figures triggered all kinds of speculations.

According to the information collected by the reporters afterwards, the resignation of the three senior executives was due to the change of the parent company, the Molybdenum Group, and the three senior executives all had to go to the Molybdenum Group to serve, which was actually improved. And the company's new personnel arrangements will also be announced in the next few days.

** Obviously affected the staff of the gold and molybdenum shares. On the afternoon of July 6th, 16:25, the official website of the Molybdenum Metals Co., Ltd. relied on the news of “The new leadership team of the Jinduicheng Molybdenum Group Co., Ltd.”. According to this news, former Chairman of the Molybdenum Metals Group, Ma Baoping, will serve as vice chairman and member of the Party Committee of Shaanxi Non-Ferrous Metals Holding Group Co., Ltd., and will also be promoted to chairman of the Golden Molybdenum Group on the basis of being a director of the Jin Mo Group. The original general manager Mr. Zhang Jixiang was also promoted to director, general manager and party committee vice director of Jin Mo Group. The former Chief Accountant Ma Xiangzhi was promoted to Deputy General Manager of Jin Mo Group.

The Golden Molybdenum shares were jointly initiated and established by Jinmo Group, Taigang Group, Dongfang Group and Baosteel Group. Gold Molybdenum Group is actually the parent company of Gold Molybdenum, and it holds absolute control over gold Molybdenum shares with a shareholding ratio of 76%. Ma Baoping's upcoming Shaanxi Nonferrous Metals Co., Ltd. is the parent company of the Golden Molybdenum Group. Shaanxi Nonferrous Metals is a subsidiary of the Shaanxi Provincial State-owned Assets Supervision and Administration Commission and holds the entire shareholding of the Jinmo Group, and also owns a wholly-owned or controlled Baozi Group and Shaanxi Tongchuan Aluminum. Hanzhong Zinc and other 21 non-ferrous metals related company's equity.

According to historical data, Ma Baoping, Zhang Jixiang, and Ma Xiangzhi all served in the gold molybdenum group's parent company, the Molybdenum Group. The return to the gold molybdenum group actually promoted.

Although Jin Mo shares announced that the company will complete the election and appointment of the new chairman, general manager and other senior management personnel as soon as possible in accordance with relevant regulations. However, Wang Jipeng, chairman of Renda General Manager, told reporters that while the three resigned, other packages should actually be done. However, the appointment and removal of state-owned enterprises generally follow such a procedure.

For the personnel change of Jin Mo shares, Wang Jipeng believes that the collective replacement of the management team is more reasonable and is more conducive to the new team.

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