Guangdong Hongda ( Guangdong Hongda Blasting Co.Ltd(002683) ) recently issued a document on its official wechat that the company was awarded the title of “model enterprise of corporate governance of state-owned enterprises” by the SASAC of the State Council.
According to reports, the establishment of state-owned enterprise corporate governance demonstration enterprises is an important measure taken by the state owned assets supervision and Administration Commission of the State Council to accelerate the improvement of the construction of modern enterprise system with Chinese characteristics, accelerate the improvement of enterprise governance capacity and governance level from point to area, and effectively transform institutional advantages into governance efficiency. After enterprise application, expert review, soliciting opinions and other links, 28 central enterprises, 60 central grass-roots enterprises and 57 local state-owned enterprises were selected, and Guangdong Hongda was listed as a local state-owned demonstration enterprise.
Guangdong Hongda said that in recent years, the company has deeply implemented the three-year action of state-owned enterprise reform, continuously explored and practiced the system and mechanism, and has formed a diversified equity structure model of “state-owned holding and management participation”, which has the advantages of system and mechanism of mixed ownership. The company has established a system and mechanism that integrates the guidance of Party construction with the corporate governance structure, and is also equipped with a scientific incentive and restraint mechanism.
The company has three business areas: mining services, production and sales of civil explosive equipment and military industry. It is the first listed enterprise of mining and stripping services in open-pit mines in China. The scale of mining clothes ranks first in the country, and the capacity of civil explosive ranks second in the country. The company’s operating performance is good, and its financial indicators have continued to improve in recent three years.
