2024.0407

Number of words in this article:1003, reading time is about 2 minutes

introduction： 张孟星在中冶系统工作近40年，2023年11月初以中国中冶总裁身份退休。

** Author| ** First Finance Guo Jiying

The website of the Central Commission for Discipline Inspection and the National Supervisory Commission released a message on April 7 stating that Zhang Mengxing, former party secretary and president of China Minmetals China Metallurgical Science and Technology Co., Ltd.(hereinafter referred to as "China Metallurgical", 601618.SH/01618.HK), was suspected of serious violations of discipline and law. He is currently undergoing disciplinary review and supervisory investigation by the China Minmetals Discipline Inspection and Supervision Group and the Chifeng City Supervisory Commission of Inner Mongolia Autonomous Region.
China Metallurgical is a large-scale construction enterprise affiliated to China Minmetals. It is also the world's largest metallurgical construction contractor and metallurgical enterprise operation service provider. The company was listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange on September 21, 2009 and September 24 of the same year.
In 2023, China Metallurgical achieved operating income of 633.87 billion yuan, a year-on-year increase of 6.95%, and achieved net profit attributable to the parent company of 8.67 billion yuan, a year-on-year decrease of 15.63%. In 2023, the company's newly signed contracts will amount to 1.42 trillion yuan. In the same year, the company was listed as 20th among the Fortune China Top 500 Listed Companies in 2023.
According to China Metallurgical Annual Report, Zhang Mengxing is 60 years old (born in August 1963). He graduated from the Department of Architectural Engineering of Baotou Iron and Steel University (now Inner Mongolia University of Science and Technology) with a bachelor's degree in engineering and is a professor-level senior engineer.
Zhang Mengxing has worked in MCC for nearly 40 years. In his early years, he worked for the 20th Metallurgical Construction Company of China for a long time (Later renamed China 20th Metallurgical Group Co., Ltd., referred to as "China 20th Metallurgical") served as deputy manager and manager of China 20th Metallurgical Company, deputy manager of Tianjin Company, etc. From February 1999 to October 2006, he served as deputy general manager of China 20th Metallurgical Company and deputy manager and manager of Tianjin 20th Metallurgical Company; from October 2006 to October 2012, he served as director and general manager of China 20th Metallurgical Company; From October 2012 to September 2014, he was promoted to Chairman and Party Secretary of China 20th Metallurgical Corporation.
In September 2014, Zhang Mengxing joined China Metallurgical as chief economist and chairman of China Metallurgical International; in May 2015, he became vice president of China Metallurgical and chairman of China Metallurgical International. In December of that year, China Metallurgical Group was merged into China Minmetals, and China Metallurgical Group became a listed company under China Minmetals Group.
After working in China Metallurgical Systems for more than 30 years, Zhang Mengxing was promoted to President of China Metallurgical in October 2016, and also served as Deputy Secretary of the Party Committee of China Metallurgical Group until retirement. On November 7, 2023, China Metallurgical announced that Zhang Mengxing would retire at the age of his life, resign as executive director and president of China Metallurgical, and no longer hold any position in China Metallurgical.
China Metallurgical's 2023 annual report shows that as of December 31 of that year, Zhang Mengxing held more than 60,000 shares of the company and received a total pre-tax remuneration of 1.5518 million yuan from the company in 2023. From January to October 2023, Zhang Mengxing's pension plan contributed 41,000 yuan, basic salary, housing subsidies, other allowances and in-kind benefits reached 1.027 million yuan, and discretionary bonuses of 484,000 yuan.
The First Financial Reporter noted that since the beginning of 2024, many senior executives of energy central state-owned enterprises have been investigated after retirement, such as Wang Yilin, former chairman of China National Petroleum Corporation, Li Yong, former general manager of China National Petroleum Corporation, and former deputy general manager of Jizhong Energy Dong Chuantong, etc.

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