This newspaper reports that on May 30, the consortium formation launch meeting for the Zhenshi Indonesia Suoshi project was held. Representatives from 18 financial institutions participated in the meeting, including the State Development Bank, the Export-Import Bank of China, the China Export Credit Insurance Corporation, China Minsheng Bank, Bank of China, Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, China Merchants Bank, Bank of Communications, China CITIC Bank, Shanghai Pudong Development Bank, Industrial Bank, Bank of Beijing, Everbright Bank, Ping An Bank, Zheshang Bank, and Postal Savings Bank of China.
Zhang Yuqiang, Chairman of the Board of Directors of the Group, extended a warm welcome and sincere gratitude to the 18 financial institutions for participating in the launch meeting. He stated that the meeting had a large number of attendees, high specifications, and high efficiency. He noted that in the current complex and volatile economic situation, the collective participation and provision of financing support demonstrated trust and support for Zhenshi's development and optimism towards the Zhenshi Indonesia Suoshi project, representing a proactive approach to stabilizing the economy, overcoming difficulties, and pursuing development.
Chairman Zhang Yuqiang gave a key introduction to Zhenshi's "14th Five-Year Plan" for development. He pointed out that during the "14th Five-Year Plan" period, Zhenshi, in accordance with the "three high strategy" requirements, found certainties within uncertainties, reliabilities within unreliabilities, and achieved remarkable results under diverse conditions. This year's successful achievement of a "good start" in the first quarter effectively guarantees the "half-year, half-task" goal, laying a solid foundation for achieving the year's predetermined objectives.
"Where are Zhenshi Group's highlights, growth points, and incremental gains for next year?" Chairman Zhang Yuqiang stated that in the face of development difficulties, these must be addressed through development. Given the current difficulties, Zhenshi faces significant development tasks, tight deadlines, and immense pressure. The priorities are to focus on project investment, market development, and innovative research and development. The approach will be to prioritize stability, seek improvement and speed within stability, and steadily advance the Indonesian Suoshi project to fruition, further stabilizing, supplementing, and strengthening the industrial chain. The Huafeng project aims to achieve land acquisition, commencement, completion, and production within the same year; accelerating the expansion projects of Dongfang Special Steel and the Tongxiang New Materials Industrial Base. In the future, Zhenshi will strive to build six major industrial groups encompassing steel, new materials, overseas operations, logistics, real estate, and hotels and property management.
Chairman Zhang Yuqiang expressed confidence in the win-win cooperation between enterprises and banks. He emphasized that Zhenshi has reached new heights and entered a new historical development period. High-quality development requires high-quality investment and the strong support of financial institutions. Zhenshi has always regarded integrity as the foundation of its existence and has established a solid cooperative relationship with banks. He believes that through the joint efforts of both sides, using the Indonesian Suoshi project as an opportunity, the cooperation mechanism will be further deepened, the breadth of cooperation expanded, and a win-win situation achieved.
Zhang Jiankan, President of the Group, delivered a welcome address, expressing sincere gratitude to the financial institutions that have long trusted, supported, and assisted Zhenshi's development. He briefly introduced Zhenshi's operating performance from January to April 2022 and its overseas strategic layout, focusing on the progress of the Suoshi nickel-iron project. He noted that the first shipment of materials has arrived smoothly in Indonesia, and the project has entered the full-scale construction phase. The first phase of the project will provide sufficient raw material supply for the expansion of Dongfang Special Steel, further consolidating the group's stable, strong, and expanding industrial chain in the stainless steel industry. He stated that through joint efforts, the foundation of mutual trust between Zhenshi and financial institutions will be stronger, the cooperative relationship closer, and the win-win areas broader. Zhenshi has the ability, confidence, and determination to make this project a model of China's "Belt and Road" initiative in Indonesia.
At the meeting, representatives from four banks—the State Development Bank, the Export-Import Bank of China, China Minsheng Bank, and Bank of China—spoke, expressing their affirmation and support for the Suoshi project and welcoming other financial institutions to join the consortium.
"The Development Bank supports Zhenshi's overseas capacity cooperation special loans, promoting the export of China's advantageous production capacity and creating numerous job opportunities. This is beneficial to both the growth of enterprises and the achievement of complementary advantages between China and Indonesia in resources and industries, promoting common development." Wang Yi, Deputy General Manager of the Zhejiang Branch of the State Development Bank, expressed confidence in Zhenshi's future development and high trust in overseas cooperation with Zhenshi. He stated that the Development Bank's overseas cooperation with Zhenshi has exceeded ten years, with high mutual trust, sincerity, and smooth cooperation. The Development Bank will continue to fulfill its responsibilities and leverage its unique advantages as a development bank, focusing on pioneers of the "Belt and Road" initiative such as Zhenshi, and growing together with the enterprise in the Suoshi project.
"I believe that after the completion of this project, it will comprehensively enhance the group's upstream resource supply capacity and competitiveness in the nickel industry chain, further consolidating the group's stable, strong, and expanding industrial chain, and promoting the group's internationalization strategy to achieve leapfrog development." Jiang Yangping, Deputy General Manager of the Zhejiang Branch of the Export-Import Bank of China, expressed gratitude to Zhenshi for inviting the bank as a joint lead bank. She pointed out that for private enterprises like Zhenshi, with standardized management, good development prospects, strong industry driving effects, and significant roles in stabilizing employment and ensuring people's livelihood, the bank will continue to play its role in policy-based finance, focusing on supporting Zhenshi's international layout and creating a Zhejiang model for the high-quality participation of the private economy in the "Belt and Road" initiative with the support of policy-based financial institutions.
"Minsheng Bank will also take this as an opportunity to fully leverage our comprehensive advantages and fully support Zhenshi in delivering excellent results during the "14th Five-Year Plan" period." Ni Zhaohui, Deputy General Manager of the Zhejiang Branch of China Minsheng Bank, expressed high trust and support for Zhenshi's strategic deployment. He pointed out that Minsheng Bank, as Zhenshi's earliest and largest credit cooperation bank, adheres to the strategic positioning of "a bank for private enterprises, an agile and open bank, and a bank that provides attentive service." It actively participates in the Indonesian Suoshi project, witnessing its development and growth, and working with other participating banks to contribute to the economic development of Zhejiang.
"The Indonesian Suoshi project invested and constructed by Zhenshi has a high level of professionalism on the construction side and high project feasibility. It is a benchmark project that responds to the national "Belt and Road" initiative and practices international production capacity cooperation, and it is also a new starting point for deepening mutually beneficial cooperation between China and Indonesia." Yuan Long, Deputy General Manager of the Zhejiang Branch of Bank of China, sincerely wished the Suoshi project an early successful launch. He stated that the Zhejiang Branch of Bank of China will diligently fulfill its responsibilities as a "fellow traveler," coordinating with the Bank of China Jakarta branch to further leverage the group's internationalization, diversification, and professional advantages, working with other banks to provide strong credit guarantees and service support for Zhenshi's cross-border development.
At the meeting, 18 financial institutions signed a consortium cooperation letter of intent with Zhenshi. Liu Junxian, General Manager of the Group's Financial Accounting Department, gave a report on project financing.