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Reviewing to 2012, Huili Resources adhered to the designed development plan with the support from all aspects of the society and the endeavors of shareholders, in a bid to actively explore opportunities, cope with challenges, better align to the market demand and further improve the Company’s structure. Our success in the development lies on the support and effort of the shareholders.

With the backdrop of globalization rapidly becoming a world-wide phenomenon and China undergoing strategic refocusing, Huili Resources captured the critical opportunity of introducing development strategies to keep abreast of the international while strengthening domestic business. The Company set up the development plan with global insight and established a development model by way of development, cooperation and acquisition based on our own strengths and characteristics. In the past year, the progress in all aspects laid a solid foundation for the globalization of the Company’s business and diversification of products. With the finalization of the plans, the Company will step up its effort to gradually complete the strategic transformation and develop new competitive edge.


Huili Resources has considerable mineral resources in China. It has three mining permits (Project No.2, Project No.20 and Project Baiganhu) and seven exploration permits. The acquisition of Project Huangjinmei (a gold mine) in Shaanxi will be completed shortly. Project Baiganhu (a lead-zinc mine) in Xinjiang is in the final stage of preparation and is expected to run in the first half of 2013. The commencement of these two projects mentioned above will expand the existing key products (copper, nickel, lead and zinc) of the Group and help the transformation of the product structure from mass non-ferrous metals to precious metals, which enable the Group to cope with economic situation flexibly and effectively.


Huili Resources strived to explore the opportunities in cooperating with third parties in 2012. After thorough understanding and communication, the Company built a strategic cooperation relationship with CRRC Investment Ltd. (“CRRC”). While the investment by CRRC further reinforcing our capital structure, it provides an effective channel for sharing technology and investment experience for both parties.


The acquisition of quality assets in overseas is one of the key developments of Huili Resources in the future. Since the early 2012, the Company has studied an acquisition plan in the Republic of Ghana which involves the acquisition of substantial amount of gold resources and ore processing capacity. After a year of communication and understanding, a framework agreement for the acquisition was signed recently. The on-schedule completion of the acquisition will provide a long-term and considerable cash flow for Huili Resources.

Looking forward, the Company believes that the emerging industrial countries, including China, will have continuous and robust demand on the mineral resources products riding on the global economic recovery. The Company will be able to align with the market changes in a more diverse and flexible way following the strategy implementation.

On behalf of the board of directors of Huili Resources, I would like to express my most sincere gratitude to all employees, customers and business partners and would also like to take this opportunity to extend my gratitude to the shareholders who have consistently supported the Group.

Wang Dayong

26 March 2013