en.Wedoany.com Reported - A 2026 annual tracking rating report recently issued by China Chengxin International Credit Rating Co., Ltd. shows that Henan Gold Group, a wholly-owned subsidiary of Henan Natural Resources Investment Group Co., Ltd. (referred to as Henan Resources Group), has completed the acquisition of Jinyuan Mining and become its controlling shareholder, marking the official establishment of Henan Gold Group.
Data from Tianyancha shows that on June 3, Zhongyuan Energy and Mining Investment Development Co., Ltd. was renamed Henan Gold Group Co., Ltd., with a registered capital of 1 billion yuan, legal representative Hu Bingwei, and its registered address changed from Zhengdong New District, Zhengzhou to Lingbao City, Sanmenxia. Henan Gold Group is wholly owned by Henan Resources Group, with the actual controller being the State-owned Assets Supervision and Administration Commission of Henan Provincial Government.
Jinyuan Mining is the state-controlled mining enterprise with the largest mining rights area in the gold industry of Lingbao City, Henan Province, and entered bankruptcy reorganization proceedings in March 2022. In 2023, the administrator publicly recruited investors, and a consortium formed by Henan Gold Group and Lingbao Caifu Investment Co., Ltd., a subsidiary of the Lingbao City Finance Bureau, was selected to invest in the reorganization of Jinyuan Mining. Henan Gold Group obtained 45.2% equity and 301 million yuan in claims of Jinyuan Mining, becoming its largest shareholder, and Jinyuan Mining was included in the subsidiary sequence of key provincial-managed enterprises. On February 10, 2026, Jinyuan Mining held an interim shareholders' meeting and board meeting, approving proposals including the election of a new board of directors.
As an important investment and financing platform in the field of natural resources in Henan Province, Henan Resources Group benefited from the consolidation of Jinyuan Mining, achieving total operating revenue and net profit of 4.081 billion yuan and 223 million yuan respectively in the first quarter of 2026, with revenue far exceeding the full-year level of 2025 and net profit also surpassing the full-year level of 2025.
According to the announcement, Jinyuan Mining currently holds two mining rights—Jinyuan No. 2 Mine (formed by integrating eight original mining rights) and Tonggou Gold Mine—and 14 ore blocks, with a total retained gold metal quantity of 35.582 tons.
The overseas subsidiaries of Henan Gold Group are primarily engaged in gold mine development and construction in Tanzania, with investment projects including the ML553 gold mine development project and the ML448-535 gold mine development project. As the ML553 and ML448 projects gradually enter formal production, the company's gold ore sales revenue is expected to increase. In 2025, the company also initiated the second phase of the ML448 project to expand production capacity.
From an operational perspective, in 2025, benefiting from a year-on-year increase in gold sales prices and volumes, Henan Resources Group's gold ore sales revenue grew significantly, driving a substantial year-on-year increase in revenue from goods sales and a notable improvement in gross margin. Gold ore revenue has become the most important component of Henan Resources Group's income.
Henan Resources Group previously stated that Henan Province has ranked as China's second-largest gold-producing province for many consecutive years, and Lingbao City's gold output has ranked second among all counties in China for 40 consecutive years. Jinyuan Mining is the state-controlled mining enterprise with the largest mining rights area in Lingbao City's gold industry and the largest in the city. Zhongyuan Energy and Mining, as the investment and financing development platform for Henan Resources Group's mining sector, relies on its role as a mining resource integration entity to comprehensively plan, optimize, and systematically develop various mineral resources within Lingbao, promoting resource integration across the province. This will further drive the integration of gold resources in the province, creating a provincial-level gold enterprise and the Henan Gold brand.
Additionally, China Henan International Cooperation Group Co., Ltd. is advancing its absorption merger with Henan Resources Group. On June 22, with approval from the Henan Provincial State-owned Assets Supervision and Administration Commission, the original plan was optimized from a direct "absorption merger" to "equity contribution and step-by-step absorption merger." If this absorption merger is ultimately completed, China Henan International Group will be managed as a key provincial-managed enterprise (commercial category one).
