the grim situation in the Western Mining Group Co. in the face of the negative impact of the financial crisis on the real economy become increasingly prominent, take measures, on the one hand to meet the challenges, on the one hand to seize the opportunity, in the premise and strive to complete the annual sales income of 14 billion yuan, to speed up the pace of adjustment of ownership structure, industrial layout adjustment and reorganization of assets.
from the beginning of the third quarter of this year, the western mining group market atrophy and the decline in sales revenue, in the harsh environment of the test, the company, based on the careful analysis of the accurate judgment and grasp of economic trends on the use of their average cost is lower than the international average cost competitive advantage, good cash flow and cash reserve, financial income growth to a certain extent make up for the real income decrease, in strict accordance with the national industrial policy, the market share of the products to ensure the production scope; loss can be accepted in the key product appropriately limiting; do not meet the national industrial policy and resolutely shut down and eliminate backward technology, reduce the losses caused by the decline in the price as much as possible, and strive to complete the sales of 14 billion yuan of annual assessment indicators.
western mining group leaders believe that: the crisis has brought challenges, but also brought about the development of enterprise restructuring and opportunities. Therefore, the third quarter officially launched the equity structure adjustment, industrial layout adjustment and reorganization of assets in holdings of shares, with the crisis, with a lower cost of capital group holdings of shares of the company, increase the state control; in the industrial layout, a steady exit from the provinces to focus on industry direction of regional development in the focus around the key direction of the State Council to support the development of Tibetan areas in Qinghai province to province development; in the reorganization of assets, around the colored and black industry, the current market downturn the opportunity to implement the low cost of mergers and acquisitions. At present, in addition to the province, the field has been expanded to Inner Mongolia, Sichuan, Hunan, Hubei and other places.