http://www.sasac.gov.cn/n2588025/n2588139/c19434669/content.html

"China Gold Group Gold Jewellery Co., Ltd. (hereinafter referred to as China Gold) is an important carrier to visualize a better life. We have the confidence and determination to go global and compete with international luxury brands." Chen Xiongwei, secretary of the party committee and chairman of China Gold, revealed his ambition in an exclusive interview with the Securities Daily a few days ago that China Gold wants to let the world see the beauty of China.

China's gold, which was successfully mixed in 2017, landed in the-share market on February 5, 2021. The company achieved total operating income of about 33.8 billion yuan in 2020; in the first quarter of this year, it achieved revenue of about 13.3 billion yuan, up about 105.12 percent year-on-year, and achieved net profit of about 0.206 billion yuan, exceeding market expectations.

   Do not forget your initiative mind gold for the people

Back in time to 1975, although China was one of the earliest and largest countries in the world to produce gold, at that time, China's gold production was still at the level of 1888. In 1976, the Gold Administration Bureau, the predecessor of China Gold Group, was formally established, which has opened the prelude to the sustained, stable and rapid development of China's gold industry.

With the efforts of generations of China Gold Group, my country's gold production has set a record of ranking first in the world for more than ten consecutive years, and the shortcomings of gold production in the past have been made up.

In 2006, China Gold was formally established with the new task of extending the gold industry chain. The company's philosophy is "gold for the people, send happiness to thousands of families", which is by no means empty talk. "At that time, the market put forward a 'hidden gold in the people' concept." Chen Jun, secretary of the company's board of directors, explained, "In the general view of the market, the investment properties of gold are actually relatively weak, but the safe-haven properties of gold are strong. At that time, the market expected that the financial environment would change in a certain period of time, and a certain proportion of gold in the assets of the Chinese people would be able to hedge certain risks".

For the sake of the concept of risk aversion for the people, in 2006, the first product of China's gold production was investment gold bars. At that time, Hong Kong-funded enterprises had already produced investment gold bars, while the mainland's investment gold bar market was still blank. However, the price of investment gold bars sold by Hong Kong-owned brands is basically the same as that of gold jewelry, that is, taxes and labor costs of 100 to 200 yuan per gram on the basis of the price of gold raw materials. "Unlike investment gold bars and jewelry, there is no excise tax on investment gold bars, and the prices of the two should not have been uniform. At the same time, the price of gold as a precious metal itself is relatively high, and the price of 100 to 200 yuan per gram of labor cost is a significant increase in the threshold for consumers to buy investment gold bars." Chen Xiongwei recalled, "So, China Gold launched its own-brand investment gold bars, which cost only 8 yuan per gram."

"The company is constantly innovating in line with the original intention of 'gold for the people', allowing profits to more consumers. Today, our investment gold bars have a market share of about 30% in the domestic market, making it the brand with the highest market share, which can be said to be very successful." Chen Xiongwei said with emotion that the launch of its own-brand investment gold bars is the most fulfilling thing since the establishment of China Gold.

Chinese gold has been working hard. Chen Jun described the vision, "in the future, we will continue to work to enable most Chinese consumers to hold precious metal products such as gold".

       Keep in mind the mission and firmly mix the reform

In 2017, China's gold ushered in another critical time node. In this year, China Gold carried out mixed reform and became the second batch of mixed ownership reform pilot units approved by the National Development and Reform Commission.

Promoting mixed reform is no easy task. "At that time, we heard a lot of opposition. Some people questioned that the company was too aggressive in order to innovate, some questioned that employee stock ownership took a big advantage, and some employees within the company lacked recognition of the mixed reform." Su Yimeng, director of the company's comprehensive office (party committee office) and a member of the Communist Party, recalled.

At a time when China's gold is promoting mixed reform, the international gold price is in a stage of continuous decline, which puts pressure on the performance of China Gold Group, whose main business model is "gold-based and multi-metal development. At that time, China Gold was one of the fastest growing and most profitable enterprises under China Gold Group. Therefore, the introduction of foreign capital for mixed reform at that time was incomprehensible to many people.

"There have always been voices of opposition. The company has experienced one difficulty after another in the process of mixed reform, but our determination to mixed reform has never wavered." Chen Xiongwei said, "Improving governance, strengthening incentives, highlighting the main business, and improving efficiency are the only way to reform state-owned enterprises."

In order to smoothly promote the mixed reform, China Gold has made a lot of efforts. "The mixed reform started in January 2017 and received a reply in April of that year." Chen Xiongwei is still fresh in his memory. On February 5, 2021, China Gold successfully landed on the main board of the Shanghai Stock Exchange, becoming the second batch of pilot projects for mixed ownership reform in important areas led by the National Development and Reform Commission, and the first single state-owned enterprise reform "Double Hundred Action" organized by the State-owned Enterprise Reform Leading Group Office of the State Council Listed companies on the main board have successfully entered the door of the capital market. Since then, the high-quality development of China's gold has entered a new stage.

  Responsibility is not afraid of hardship

Challenges are always met by chance, and faith is always hidden in the heart. In early 2020, the new coronary pneumonia epidemic raided. "As a central enterprise, China Gold hopes to do something for the 'anti-epidemic', the chairman took the lead overnight to carry out 'brainstorming', what can we do in the face of the epidemic? It is a responsibility and a responsibility to build an asset breakwater for people. We finally decided to launch an investment product that can spread positive energy as soon as possible to cheer for China." Li Sijia, general manager of the company's product trading department (R & D and design center), recalled.

"Time is tight and the task is heavy. According to the unified arrangement, we only have two days of research and development." Li Sijia said that the design team worked overtime and stayed up all night, and finally developed a gold bar product with the words "China refueling". After that, it took another two days to urgently mass produce it. In a week's time, "refueling" gold bars realized from an idea to online sales.

In addition to R & D sales, gold trading is also a key link.

Company trader Zhang Ziyu recounted that during the epidemic, he worked from home during the day and responded positively to the call to volunteer as a community volunteer between 8 p.m. and 12 p.m. It is worth mentioning that during the epidemic, the price of gold fluctuated significantly, and as a gold trader, he was himself in a stressful phase of his work. It is against this background that Zhang Zifan not only served as a volunteer for two consecutive months, but also accurately grasped the time node of gold trading, avoiding the risk of subsequent gold price fluctuations for Chinese gold. "During the epidemic, it is the responsibility of every capable Chinese to rush to the front." An ordinary sentence shows the simplicity and tenacity of the Chinese golden people.

"These advanced leadership spirits are influencing more and more people. Party organizations at all levels of the company are actively playing their role as fighting fortresses and as pioneers and models, and Party members have stepped forward and taken the lead in implementing their work tasks." Liu Qian said that because of such a team, although the new coronary pneumonia epidemic in 2020 has caused a serious impact on the consumer retail market, but China Gold's business promotion is not only unaffected, but also to achieve a major breakthrough in performance.

Inheriting culture and setting sail

Times are always changing faster than people think. In recent years, with the rise of the national tide, the way of cultural inheritance has quietly changed.

Company designer Wang Shasha said that in recent years, the company has made many successful attempts in gold jewelry design. "For example, the series of Chengfu gold products sold in China's gold stores are made of ancient gold technology."

Talking about the theme products launched by the company, Wang Shasha said, "The characteristic of ancient craft products is that they continuously dig deep into China's traditional culture and present them with a silk texture closer to the gentle, vigorous and delicate jade-like texture of gold itself. At the same time, more crafts such as chiseling and hammering plates are superimposed, so that the traditional skills of craftsmen in big countries can be carried forward and passed on."

"in fact, due to the complexity of the manufacturing process, although the retail price of Chengfujin series products is slightly higher than that of ordinary gold jewelry, they are recognized and welcomed by young people. this may be a manifestation of the younger generation's cultural recognition, national self-confidence and national pride." Wang Shasha believes that the rise of the national tide means that China's cultural self-confidence is on the rise, and more consumers are willing to pay for good domestic designs.

However, foreign jewelry and luxury brands have a lot to learn from the century-old shaping of culture, the pursuit of perfection in craftsmanship, and innovative breakthroughs in design. "Our goal is to build China's own century-old brand of gold and jewelry based in China. Through a product that can decorate a better life, we can make our people feel the power of great national confidence." Wang Shasha said firmly, "The products launched by our brand have reached the industry-leading level in terms of design, style and craftsmanship. We will continue to work hard to increase the Chinese people's sense of identity with us and strive to improve our international status".

"There is still a long way to go." Chen Xiongwei said frankly that cultural heritage cannot be completed overnight. This requires China Gold to guide employees through party building to "Do not forget your initiative mind, keep in mind the mission, always move forward, always remember our goal, win glory for China and win glory for our own national brand".