"Henan Enterprise" published an article on Shenglong — — Turning Ore into Gold, Accelerating SOE Reform

Recently, Shenglong's article "Turning Ore into Gold, Accelerating SOE Reform" was officially published in Henan Enterprise magazine. Henan Enterprise is an internal publication managed by the State-owned Assets Supervision and Administration Commission of the Henan Provincial Government and sponsored by the Henan Provincial Enterprise Federation. It is an important public opinion platform for publicizing and promoting the high-quality development of Henan enterprises. The publication of this article is a full affirmation of the development achievements of Shenglong, demonstrating the role and role of enterprises in serving the national strategic resource security and promoting the high-end transformation of the industry.

The west of Henan is green, and Heluo is trendy. A magnificent practice of the transformation of state-owned enterprises is quietly written here.

On March 31, 2026, the bell of Shenzhen Stock Exchange rang clearly, and the name of Luoyang Shenglong Mining Group Co., Ltd. (Hereinafter referred to as Shenglong Co., Ltd) was engraved on the map of China's capital market. On the day of listing, the market value exceeded 50 billion yuan, and the company, which had only been established for more than five years, leaped into the first phalanx of domestic molybdenum mining enterprises.

Shenglong Co., Ltd. is a state-owned mining enterprise dedicated to molybdenum mining, smelting, processing and sales. It owns five large and medium-sized non-ferrous metal mining rights such as Nannihu Molybdenum Mine, and retains about 9.1% of the national reserves of molybdenum metal. From 2022 to 2025, in just four years, the business income increased from 1.911 billion yuan to over 3.5 billion yuan, the total profit increased from 545 million yuan to over 1.2 billion yuan, and the output of molybdenum concentrate, the main product, continued to rise. In the past three years, the annual compound growth rate of business income and total profit exceeded 20%, running out of the "acceleration" of the reform and development of state-owned enterprises.

The stirring bell seems to be telling a story about the breakthrough and responsibility of state-owned enterprises.

Only through change can there be a way out: from the tenacity of "surviving" to the backbone of "becoming strong".

In December 2020, Shenglong came into being in the tide of the three-year action of the national state-owned enterprise reform. However, at the beginning of its establishment, the new enterprise was once in deep trouble-shortage of funds, insufficient production capacity, weak profitability, and every step seemed to be difficult.

The management team of the company did not wait for the policy and rely on support, but recognized a reason: the responsibility is not given by others, but shouldered by themselves. Team members went deep into the front line to "feel the pulse" and conveyed a consensus to all employees: the survival of the enterprise is closely linked to personal development, and only by taking the initiative to break the situation can we achieve a win-win situation.

In the face of difficulties, some people see the abyss, others see the ladder. This team, honed in a desperate situation, finally found the way to "concentrate on breaking through the development of core mining rights and mergers and acquisitions of high-quality assets".

In February 2021, after overcoming difficulties and resolving crises, with the merger and acquisition of core high-quality assets and the roar of machines in the production workshops of subordinate companies, Shenglong took the most critical step on the "Nirvana Road".

The machine is only the starting point. How to achieve "sufficient resource reserves, advanced mining technology, scientific and standardized management, first-class economic benefits" is a long-term test.

Sheng Long's choice is to turn inward and deepen reform.

Reform breaks the ice, starting from activating the source of "people". The company stirs up a pool of spring water with "full staff competition", vigorously slimming and fitness, promotes the streamlining and optimization of government departments, and enables nearly 100 cadres to turn to the forefront of production. By establishing the mechanism of "horse racing on the battlefield", every seed can find the most suitable soil for growth.

This seems harsh, but in fact it is a double responsibility for enterprises and employees: let the capable go up and the mediocre go down, and let the people who really create value get rewards.

The assessment baton is also thoroughly "hard". Because of the outstanding performance of the subordinate company, the annual salary of the person in charge is far higher than that of the superior, and the company resolutely cashes it. This "real award" is awarded with real gold and silver, and stands up with the promise of "performance speaking".

Responsible enterprises never avoid the assessment of "real knives and guns", because they believe that fairness is the best incentive.

Under the guidance of the company's "cohesion forward" party building brand, the "party building + fortification" model has become the hard core support for development. In terms of production capacity improvement, Shenglong people built the organization on the project and let the party flag fly high in the front line of fortification: winning the first national 50,000 tons/day mining license after the policy adjustment at one stroke, completely releasing the potential of large-scale mining of high-quality mines; racing against time to promote the construction of tailings reservoir, laying a solid foundation for the development of the next 30 years.

What is more commendable is that Shenglong people use innovative thinking to revitalize idle resources. In Baohuashan Concentrator, which has been shut down for 15 years, the company did not invest blindly, but adopted the "lease + technological transformation" light assets model, with less than 100 million yuan of early investment as the fulcrum, successfully leveraged several times the scale of production capacity, and achieved low-cost and efficient expansion.

Only by doing so can we make a breakthrough: from the cornerstone of "talent development" to the engine of "innovation drive".

Innovation is not an inspiration out of thin air, but comes from a heavy responsibility-the responsibility for the growth of employees, the responsibility for the future of enterprises, and the responsibility for the progress of the industry.

Talents are the first driving force of innovation. Shenglong Co., Ltd. has built a human resources brand of "near and far", built a talent reserve system covering the whole chain of geology, surveying, mining, mineral processing, smelting and deep processing, opened up three channels of management, technology and skills, and established a circulation mechanism of "exit-training-re-employment". Build a three-dimensional "1246" training system, build four talent pools of "leader", "management", "expert" and "craftsman", so that each type of talent can find its own growth path.

Innovation is never a matter for a few people. Relying on the grass-roots craftsman platforms such as "Niu Jinghui Innovation Studio" and "Chen Haiying Innovation Studio", Shenglong spreads the seeds of innovation to every team. Through extensive activities such as skills competition, apprenticeship, craftsmen and soldiers, the innovative ability of teams and groups has been cultivated in an all-round way, and the concept of "everyone can innovate, everything can innovate" has become popular in the company.

This responsibility-driven innovation will ultimately fall on the core competitiveness. As a key supporting unit of tungsten, molybdenum, titanium and magnesium industry chain in Henan Province, Shenglong adheres to the road of integration of production, teaching and research, and "joins hands" with universities and research institutes such as Central South University, Zhengzhou University and China University of Mining and Technology to carry out in-depth research in the fields of high and steep slope treatment, efficient utilization of low-grade ores and cyanide-free molybdenum separation. Through normal scientific research, the company has mastered a number of core technologies of independent research and development, and the core indicators such as recovery rate of mining and selection are in the forefront of the industry.

As of December 2025, the company has 14 invention patents and 40 utility model patents certified by the state. In 2025, more than 100 internal innovation projects were launched and 4 provincial management innovation awards were awarded. Relying on high-end platforms such as post-doctoral innovation practice base and research Institute, Shenglong Co., Ltd. has been recognized as a provincial science and technology reform enterprise, and its subordinate Longyu Molybdenum has been awarded Henan Enterprise Technology Center and Specialized Star Change Plan Enterprise successively, with excellent innovation qualification and strong R & D strength.

Only by seeking change can there be renewal: reconstructing the engine of the "digital revolution" from the shackles of the "traditional mine".

With the rapid development of technology, the "wing of wisdom" has been inserted into the development of mining enterprises. "After working in the mine for so many years, I never thought mining could be so easy." In the bright dispatching room of Nannihu Mine Company of Longyu Molybdenum, the excavator driver holds the control handle and moves his fingers, and the excavator in the open-pit mine hundreds of meters away moves with it.

In today's digital wave, the construction of intelligent mine is the only way for the transformation and upgrading of mining enterprises. Shenglong takes "5G + big data" as the core to fully enable mine production and operation. The company has built an intelligent ore blending system, an intelligent dispatching platform and a three-dimensional visualization platform to realize the digitalization and intelligent management and control of the whole process of open-pit mining. In Nannihu Molybdenum Mine, intelligent closed-loop management has been realized in the whole process from perforation sampling, ore transportation to mineral processing and quality inspection, which has completely changed the extensive production mode of traditional mining industry.

This "digital revolution" has brought tangible benefits. Open-pit mining has entered a new stage of intellectualization, intensification and safety normalization, with mining efficiency greatly improved and production costs significantly reduced. As a result, Longyu Molybdenum Co.,Ltd, a subsidiary of Shenglong, has become the first benchmark enterprise in Henan Province to pass the intelligent acceptance of non-coal mines, laying a solid scientific and technological foundation for successful listing.

Only by taking responsibility can we have a future: from the bottom line of "safe production", we can draw a picture of "harmonious development".

In many people's impression, the mine is a place where machines roar and dust flies. But in the Nannihu Mine of Shenglong Co., Ltd., it is another scene: the production area, office area and living area are in good order, with shady trees and swaying flowers and plants, as if they were in a city garden.

"Lucid waters and lush mountains are invaluable assets"-Shenglong people wrote this idea into every tree and grass in the mine.

Promote the construction of zero-carbon mines and explore circular economy. The company promotes belt transportation optimization, equipment upgrading and transformation, green mine card and other projects. Promote the backfilling and resource utilization of tailings and waste rocks, so as to turn waste into treasure. Mining and ecological restoration should be carried out in parallel, and local dominant species should be used to carry out ecological restoration so as to revitalize the mine. Longyu Molybdenum has passed ISO14001 environmental management system certification and has been appraised as a provincial green factory. Nannihu Mine has been appraised as a national green mine, which truly realizes the organic integration of mining development and ecological protection.

Strictly abide by the bottom line of safety and resolutely avoid bloody profits. To build a global responsibility system for the whole staff, the "Party member safety research team" took the lead, the "safety team" took root at the grass-roots level, and the "7 + 1" safety management model covered all aspects of production, and was awarded the advanced unit of safety production in Henan Province.

The company insists on localized development, creates a large number of jobs in the operation area, and drives the masses to increase their income and become rich. Establish good business cooperation with local enterprises and promote regional industrial chain synergy. Establish a long-term communication mechanism, actively respond to local concerns, and build a harmonious relationship between enterprises and localities.

Only by sticking to it can we have a distant place: from the starting point of "breaking the wall and listing" to the other side of "the sea of stars".

The road to listing is a marathon.

On the road of sprint listing, Shenglong people did not shrink back, but carried out a thorough investigation of the governance standards of listed companies. The company has established a mechanism of "task list, node account, responsibility to people, closed-loop sales number". Countless days and nights, the staff of the special class for listing took root in the front line, bent over their desks, and ran all over the provinces, cities, and ministries and commissions of the state for examination and approval.

In 2023, the company contacted more than 20 intentional investors, adhered to the standard of "value matching, industrial synergy, long-term empowerment and risk sharing", and finally introduced five high-quality strategic investors, raising a total of 680 million yuan, creating the largest single external investment of state-owned enterprises in Luoyang City in recent years.

On March 31, 2026, Shenglong was listed on the main board of Shenzhen Stock Exchange.

The journey of struggle is not in vain, and every step counts.

Listing is not the end, but a new starting point. "In the future, we will adhere to the core development path of “strengthening Party building, seizing benefits, practicing internal skills, expanding the market and protecting the bottom line “, continue to consolidate the foundation of green development, open up a new track of development with scientific and technological innovation, constantly enhance core competitiveness, and take the road of green innovation and sustainable development."

The bell has fallen, and the journey begins again. This responsibility and responsibility tempered in the fire will illuminate the next journey of Shenglong people to the sea of stars.