CM Financial Signs a Strategic Cooperative Agreement with Datong Coal Mine Group

    On Dec. 27, 2017, China Minsheng Financial Holding Corporation Limited (CM Financial) announced that it achieved a strategic cooperation with Datong Coal Mine Group Co., Ltd. (Datong Coal Mine Group). As the important overseas strategic platform of CMIG Asia Asset Management Co., Ltd. (CMIG Asia), CM Financial will provide Datong Coal Mine Group with full services for its operation in overseas capital market to practice the commitment of boosting the real economy through financial support and carrying out an all-round cooperation from the global perspective.

    Giving full play of their respective advantages, CM Financial and Datong Coal Mine Group will actively respond to the proposal of “Belt and Road” Initiative and reach an agreement on the overseas “Belt and Road” Initiative project, under which, CM Financial will help Datong Coal Mine Group explore a new international development direction with the integration of industry and finance. CM Financial expected to apply the cooperation model to other domestic large companies in the future to drive the development of trade and industry and assist more excellent Chinese real companies to “go global”.

    Datong-headquartered Datong Coal Mine Group is a national steam coal producer with annual output of 100 million tons and a large integrated energy group in Shanxi, the business of which covers 18 cities of seven provinces including Shanxi, Inner Mongolia and Xinjiang. It owns two A-share listed companies – Shanxi Zhangze Power Co., Ltd. and Datong Coal Industry Co., Ltd. – and one financial company. It mainly focuses on businesses of coal and electric power while developing businesses in various fields such as finance, coal chemical industry, metallurgy, machine manufacturing, logistics and trade, construction and building materials, real estate and cultural tourism.

     “Datong Coal Mine Group has made great contribution to China’s socio-economic development in the past years. In particular, with the development strategy of “Building a New Datong Coal Mine Group and Building a New Life”, the company simultaneously developed coal and non-coal businesses and optimized its financial business layout, leading to an obvious upgrade and transition with the advantageous comprehensive competitiveness. This time, the strategic agreement of two sides is a new start for our comprehensive strategic cooperation. We wish to strengthen the cooperation with Datong Coal Mine Group in markets of international trade, international capacity and international finance to give full play to ‘driving force’ of financial business in boosting the development of real economy to realize the mutual benefits and win-win results at higher levels and in greater spaces and more fields, said Wang Dongzhi, Chief Executive Office of CM Financial.

     On Jan. 2, the first workday in 2018, CMIG President Li Huaizhen visited CM Financial’s office in Central Hong Kong and exchanged views with staffs while clarifying the future development direction of CM Financial.

Group photo of President Li Huaizhen (middle) and the management group of CM Financial

    President Li confirmed the accomplishment of CM Financial in the past two years. As the important strategic platform of CMIG Asia and with the strong support of its major shareholders such as CMIG, CM Financial has obtained four financial licenses, including Type 1, Type 4, Type 6 and Type 9, in Hong Kong markets within two years and seen a significant increase of its performance.

    Li said that CMIG is dedicated to become a cross-market resource organizer serving the healthy development of private capital. As a subsidiary of CMIG Asia, CM Financial plays an important role in its strategic layout. Hong Kong, as an Asian and world financial center, is a significant port connecting the markets of the mainland of China and the world. CM Financial should take advantage of the Hong Kong market to integrate the industry and finance through a dual driving pattern of “Investment + Investment Bank” to provide more domestic enterprises with professional integrated financial services and help private capital “go global”.

    Wang said that the visit of President Li to CM Financial in the first workday of 2018 shows the important strategic position of the company in the group. Based in Hong Kong and backed by the mainland, CM Financial will serve “Belt and Road” Initiative while further focusing on its investment layout in 2018 to make greater achievements.