中国金王“陈大炮”，退隐

Core Viewpoint - The retirement of Chen Jinghe, the founder of Zijin Mining, marks the end of an era characterized by aggressive expansion and personal leadership, transitioning the company towards a more institutional-driven governance model [2][36]. Group 1: Leadership Transition - Chen Jinghe has proposed not to accept the nomination for the ninth board of directors due to age and family reasons, concluding his 32-year leadership of Zijin Mining [2][3]. - The board plans to appoint Chen as the honorary chairman for life and senior advisor, ensuring his continued influence on major strategic decisions [3][36]. - The new management team, primarily composed of long-serving "old Zijin" members, is expected to lead the company into a new phase of governance [28][29]. Group 2: Company Performance and Growth - As of the end of 2024, Zijin Mining's market value is nearly 800 billion RMB, with significant resource reserves including 11 million tons of copper and 3,973 tons of gold, ranking second and fifth globally in these categories respectively [3][4]. - In the first three quarters of 2025, the company achieved a revenue of 254.2 billion RMB, a year-on-year increase of 10.33%, and a net profit of 37.864 billion RMB, reflecting a substantial growth of 55.45% [4]. Group 3: Historical Context and Challenges - Chen's leadership was marked by bold decisions, such as rejecting foreign investment offers and pursuing aggressive domestic development strategies during challenging times [9][10][36]. - The company faced significant challenges, including a recent incident in Colombia where local drug groups illegally mined approximately 3.2 tons of gold, valued at about 200 million USD, highlighting the operational risks in international markets [26][36]. Group 4: Future Directions - The transition from a "founder-driven" to an "institution-driven" model poses challenges, particularly in maintaining the company's innovative and entrepreneurial spirit [36][37]. - The new management must navigate complex geopolitical and operational environments, including rising resource nationalism and stringent global ESG standards, to sustain the company's growth and international presence [37][38].