Rally and Restart-Chifeng Gold Completes Restructuring

      1月18日，赤峰黃金召開第八屆董事會第十三次會議，同意傅學生先生辭去董事、聯席董事長等職務；同意趙強先生辭去董事、執行總裁、財務總監等職務。這是繼2022年12月30日董事會聘任楊宜方女士為總裁、保羅·哈里斯先生為運營總監之后，赤峰黃金在高級管理人員層面進行的又一次重大戰略調整。

      On January 18th, Chifeng Gold held the 13th meeting of the eighth Board of Directors, and approved that Mr. Fu Xuesheng resigned from positions of director, co-chairman; approved that Mr. Zhao Qiang resigned from the positions of director, Executive President, CFO. This is another major strategic adjustment at the senior management level of Chifeng Gold following the appointment of Ms. Lydia Yang as CEO and Mr. Paul Harris as COO by the Board of Directors on December 30, 2022.

      2022年第三季度，公司生產經營出現較大波動，單季度虧損，公司董事會和管理層深受震動的同時，也受到來自資本市場和投資者的質疑和巨大壓力。我們深知，只有靠內部更大的壓力才能支撐發展，只有對國家、對社會、對廣大投資者負責才能持續發展。

      In the third quarter of 2022, the company experienced significant fluctuations in production and operation, with losses in a single quarter. The Board of Directors and management were deeply shaken, and also suffered from questions and great pressure from the capital market and investors. We are fully aware that development can only be supported by greater internal pressure, and sustainable development can only be achieved by being responsible to the country, society and investors.

      王建華董事長為赤峰黃金2023年定義的發展主題詞是“破局、重構、創業”。他要求，管理人員要不被認知所限，不被習慣所困，只為企業家理想奮斗；要從企業生存與發展、個人成長并讓更多人受益出發，完成組織結構的全面調整，建立適應當前發展需要的管理體系；赤峰黃金人要始終堅持創業者的心態和行動，抓住發展機遇，完成產量遞增、成本降低和現金流充足等方面的經營指標，在GDR上市、資源并購和稀土資源開發等方面取得重大進展。

     Board Chairman Wang Jianhua defines the development theme words for Chifeng Gold in 2023 as "breaking, reconstructing, enterprising". He requires that management personnel should not be limited by perception, should not be trapped by habit, but only strive for entrepreneurial ideals; start from the enterprise survival and development, personal growth and benefiting more people, complete the overall adjustment of organizational structure, establish a management system that meets the needs of current development; Chifeng Gold staff should always adhere to the mentality and actions of entrepreneurs, seize development opportunities, complete the operating targets in terms of increasing production, reducing cost and sufficient cash flow, and make significant progress in GDR listing, resource mergers and acquisitions, and rare earth resource development.

      圍繞王建華董事長定義的發展主題，赤峰黃金已在理念高度一致的基礎上完成組織重構，全體高管和骨干緊盯長期戰略布局，跟隨公司發展節奏和步伐，主動走出個人舒適區，爭當創業者。聯席董事長呂曉兆先生將督導境內外礦山資源勘查、礦山工程建設；總裁楊宜方女士領導公司在國際化進程中所需的改革、組織調整，溝通協調提升公司整體管理的效率；運營總監保羅先生將制定并落實國際化運營管理系統，提升境內外礦山運營績效；傅學生先生、趙強先生在辭去原職務后，將集中全力經營公司稀土業務板塊，開創公司的戰略發展領域，趙強先生同時協助公司財務管理工作；公司董事、副總裁高波先生將任控股子公司萬象礦業有限公司董事長，與公司副總裁周新兵先生、萬象礦業總經理卡爾先生等同事一道，降低成本提高塞班礦經營效益；公司董事、副總裁陳志勇先生，副總裁陳鐵核先生與金星瓦薩副總經理沙瑞克先生等繼續負責推進瓦薩礦“雙萬計劃”，強化公司在西非這一世界重要產金區域的地位。

      Focusing on the development theme defined by Board Chairman Wang Jianhua, Chifeng Gold has completed the organizational restructuring on the basis of highly consistent ideas. All the senior executives and key personnel focus on the long-term strategic layout, follow the development pace of the company, take the initiative to step out of their personal comfort zone and strive to become entrepreneurs. Co-chairman Mr. Lyu Xiaozhao will supervise domestic and overseas mine resources exploration and mine engineering construction; President Ms. Lydia Yang will lead the reform and organizational adjustment required in the process of internationalization, communicate and coordinate to improve the efficiency of the overall management of the company; COO Mr. Paul will develop and implement international operation management system to improve the operation performance of domestic and overseas mines; after resigning from original positions, Mr. Fu Xuesheng and Mr. Zhao Qiang will concentrate on the rare earth business of the company and create the strategic development field of the company, and Mr. Zhao Qiang will also assist the financial management of the company; director, Vice President Mr. Gao Bo will be the Board Chairman the holding subsidiary LXML, together with Vice President Mr. Zhou Xinbing, LXML General Manager Mr. Karl, reduce the cost and improve the operating efficiency of Sepon Mine; director, Vice President Mr. Chen Zhiyong, Vice President Mr. Chen Tiexhe and GSS Wassa Deputy General Manager Mr. Shadrack Sowah will continue to advance the " SHUANGWAN PLAN " of Wassa Mine and strengthen the position of the company in West Africa, an important gold-producing region in the world.

         除高管任職重構調整外，2022年末以來公司已經完成國內礦山子公司總經理競聘，挑戰新的指標和壓力；完成了總部職能部室調整，為生產經營提供更好的支持和服務；推動信息化建設，以建立更高效率的溝通和管理體系；同時開展ESG體系建設，適應國際化發展的要求。

      In addition to the restructuring and adjustment of senior management positions, since the end of 2022, the company has completed the competition for general managers of domestic mining subsidiaries, challenging new indicators and pressure; completed the adjustment of functional departments and offices of the headquarters to provide better support and services for production and operation; promoted information construction to establish more efficient communication and management systems; at the same time, the construction of ESG system is also carried out to meet the requirements of international development.

      赤峰黃金已重整行裝再出發、再創業，并將再次用行動和成長證明自己具備充足信心和能力完成新的生產經營目標、取得新的發展局面，讓更大范圍、更多的人、更大程度地因赤峰黃金的發展而受益。

      Chifeng Gold has rallied and set out to start a new business. It will prove with actions and growth that it has sufficient confidence and ability to achieve new production and operation objectives and achieve new development situation, so that more people in greater regions can benefit from the development of Chifeng Gold to a greater extent.