Silver-Colored Nonferrous Metals Completes Leadership Transition After Opening Year with 8 Consecutive Daily Limits; 51-Year-Old Wang Bin Returns to Former Employer

Wang Bin, age 51, returns to his former employer. On the evening of March 16, Baiyin Nonferrous Group Co., Ltd. (referred to as “Baiyin Nonferrous,” 601212.SH) announced that the company’s board of directors officially elected Wang Bin as chairman.

Previous resumes show that Wang Bin was born in June 1974, is a member of the Communist Party of China, holds a graduate degree, and is a senior political engineer. His career path is closely linked to Baiyin Nonferrous: he previously served as director of the office at Baiyin Nonferrous Metals Company’s smelting plant; director of the general manager’s office and human resources at Baiyin Nonferrous Copper Industry Co., Ltd.; party committee member, disciplinary secretary, and union chairman at Baiyin Honglu Copper Industry Co., Ltd.; and general manager, deputy party secretary, and director of Baiyin Nonferrous Group.

Wang Bin briefly left Baiyin Nonferrous. In August 2023, he left Baiyin Nonferrous due to work changes and was appointed chairman of Lanzhou Lanshi Group Co., Ltd.

After two and a half years, Wang Bin returns to his former employer. In fact, on January 23, he presided over Baiyin Group’s 2026 work conference as party secretary. Wang Bin succeeded Wang Pugong, who is 60 years old. On January 21, Wang Pugong resigned from his positions as chairman, director, and member of the special committees of the board of Baiyin Nonferrous due to work changes, and no longer holds any position in the company.

Wang Bin, Party Secretary and Chairman of Baiyin Nonferrous. Photo from Baiyin Nonferrous official website.

Baiyin’s predecessor was Baiyin Nonferrous Metals Company, established in 1954. It was one of the 156 key projects during China’s First Five-Year Plan and an important nonferrous metal base in New China. In 2008, Baiyin Nonferrous introduced CITIC’s strategic investment to implement a shareholding system reform. In February 2017, Baiyin Nonferrous successfully completed its initial public offering and was listed on the Shanghai Stock Exchange.

According to its official website, Baiyin Nonferrous currently has 42 subsidiaries, with over 40 products. Its business covers mining, beneficiation, smelting, processing, and financial investment trading of nonferrous and precious metals such as copper, lead, zinc, gold, and silver. The company owns resource bases in Gansu, Shaanxi, Xinjiang, Inner Mongolia, and Tibet. Its international operations extend to Asia, Africa, Europe, and South America. The production capacity exceeds 23.5 million tons for mining and beneficiation, 800,000 tons for copper, lead, and zinc, 100 tons of gold, 1,000 tons of silver, and 200,000 tons of nonferrous metal processing materials.

Despite the rising market prices of nonferrous and precious metals in 2025 and increased production of main products, Baiyin Nonferrous’s performance last year was not ideal. According to its previous disclosures, the company expects a net profit attributable to the parent company of between -450 million and -675 million yuan for 2025, indicating a loss compared to the previous year.

Baiyin Nonferrous explained in its earnings forecast that, due to a dispute over storage contracts involving its subsidiary Shanghai Honglu International Trade Co., Ltd., and South Storage Group Co., Ltd. and its Shanghai branch, the company made an estimated liability provision of about 314 million yuan in the first half of 2025 based on the latest developments and cautious accounting principles. Additionally, fluctuations in market prices led to increased fair value losses on embedded derivative financial instruments formed through spot trading, which also impacted the company’s performance.

At the Baiyin Group 2026 work conference held on January 23, Wang Bin emphasized the need to focus on key industries and promote the implementation of plans. He pointed out that to achieve the goals of the 14th Five-Year Plan, the implementation path and key measures include strengthening basic metals, expanding precious metals, refining rare metals, optimizing the circular economy, and developing emerging industries and productive services.

On March 16, during the board meeting, in addition to electing the chairman, several important resolutions were approved. The company plans to apply for a comprehensive credit line of 67.7 billion yuan from financial institutions in 2026, mainly for working capital loans, fixed asset loans, M&A loans, and international trade financing. Also, the company plans to invest 6.321 billion yuan in 2026, with 1.896 billion yuan allocated for fixed assets and 4.424 billion yuan for equity projects.

Notably, amid a surge in international silver prices, market attention to Baiyin Nonferrous has recently increased significantly. In January 2026, the company’s stock experienced consecutive daily limit-ups. From January 20 to January 29, Baiyin Nonferrous hit the limit-up eight days in a row. Despite multiple risk warning announcements reminding investors of trading risks, market enthusiasm remained high.

Starting January 30, the stock price retreated. As of the close on March 16, Baiyin Nonferrous’s stock price was 8.85 yuan, down 2.32%, with a latest market value of 65.532 billion yuan. Before the recent rise, the stock price was around 6 yuan.