Core Viewpoint - The recent sharp decline in gold prices has led to significant losses for both individual investors and trading platforms, while the founder of Luoyang Molybdenum, Yu Yong, has emerged as a major beneficiary due to his control over cobalt resources, which are increasingly critical in the global market [1][3][5]. Group 1: Market Impact - Individual investors have reported losses after a sudden drop in gold prices, with some losing thousands after previously making significant profits [1]. - The gold trading platform "Jie Wo Rui" has faced severe financial issues, leaving hundreds of merchants at risk of losing their investments [3]. Group 2: Yu Yong's Success - Yu Yong, the founder of Luoyang Molybdenum, controls nearly one-third of the global cobalt supply, positioning his company advantageously in the market [5][7]. - His wealth has surged to 95 billion, drawing attention from U.S. officials who express concerns over the concentration of cobalt supply in Chinese hands [7]. Group 3: Background and Strategy - Yu Yong's journey from a paper factory worker to a prominent figure in the mining industry is marked by strategic foresight and patience [9][11]. - He acquired Luoyang Molybdenum during a period of financial distress for the company, recognizing its potential despite competition from larger firms [11][13]. - By adopting a strategy of becoming a minority shareholder initially, he was able to implement significant reforms that turned the company around, leading to substantial profit growth [14][16]. Group 4: Major Investments - Yu Yong's first major gamble was acquiring the TFM copper-cobalt mine in the Democratic Republic of Congo for $2.65 billion during a market downturn, which later proved to be a lucrative investment as cobalt prices soared [18][20]. - His second significant acquisition was the KFM copper-cobalt mine for $550 million, further solidifying his control over cobalt resources [21][23]. Group 5: Strategic Vision - Yu Yong's success is attributed to his long-term vision, focusing on future industry trends rather than short-term gains, particularly in the context of the global energy transition [24][25]. - He has strategically invested in the entire supply chain, including a significant stake in CATL, allowing for a vertically integrated operation from mining to battery production [29][31]. - This integration provides Luoyang Molybdenum with enhanced pricing power and risk management capabilities in the fluctuating market [29][31].
中国神秘“金矿大王”，靠隐忍捡漏1000亿