PDF《(a company incorporated under the》

183 Queen'

s Road East, Wan Chai, Hong Kong. 中国金属资源利用有限公司 ( 「本公司」 )为一家於2013年2 月22日在开曼群岛注册成立的获豁免有限公司.本公司及 其附属公司 ( 「本集团」 )是中国西南部增长迅速的再生铜 产品 (亦称为铜半制成品)制造商.本公司股份於2014年2 月21日(「上市日期」 )在香港联合交易所有限公司 ( 「联交 所」 ) 主板上市. 本集团主要加工回收的废铜,其次是电解铜,从而生产多 种铜产品,包括铜线材、铜线、铜排和铜米.自2013年起,我们亦销售多种通信电缆和送配电缆,这些电缆以我 们生产的铜线材作为原材料.我们正提高产能,计划扩大 产品类型,并寻求机会进一步垂直整合.鉴於中国的有利 发展趋势及我们在原材料供应、设施所在地及利好的政府 政策等方面的优势,相信我们已具备条件成为中国领先的 综合再生铜产品供应商,涵盖产业链内的主要价值创造活 动. 本集团目前拥有及营运三个再生铜产品生产设施.我们的 附属公司绵阳金鑫铜业有限公司 ( 「金鑫」 ) 及绵阳铜鑫铜业 有限公司 ( 「铜鑫」 ) 设施位於四川省绵阳市,而我们的附属 公司湖南银联湘北铜业有限公司 ( 「湘北」 ) 设施位於湖南省 汨罗市.我们的金鑫、铜鑫及湘北设施现正投入商业生产. 本年报的中、 英文本已登载於本公司网站http://www.cmru.com.cn/.已选择收取本公司的公司通 讯(「公司通讯」 ) 的英文本或中文本的股东,可要求收取 另一语言版本.只要提出要求,本公司将免费发送本年 报的要求语言版本. 股东可随时更改收取公司通讯的语言版本的选择 (即英 文本或中文本或中、英文本) . 股东可以书面通知本公司在香港的股份过户登记分处, 香港中央证券登记有限公司,地址为香港湾仔皇后大道 东183号合和中心17M楼,提出更改收取公司通讯的语 言版本的选择.

3 3 On behalf of the Board of Directors (the Board ) of China Metal Resources Utilization Limited ( CMRU or the Company ), I hereby present the audited consolidated annual results of the Company and its subsidiaries (collectively the Group ) for the twelve months ended

31 December 2013. This is the Group'

s first annual report since the Group'

s listing on

21 February 2014. China'

s scrap copper industry has developed rapidly with the government'

s increasing emphasis on environmental protection. As the recycling and metal processing industry is a key component in the development of a circular economy, the PRC government has introduced a series of supporting measures and policies designed to promote recycling in China. CMRU benefited from preferential government policies, which include preferential corporate income tax rate from China'

s Western Development Campaign, as well as tax refunds, government grants and subsidies etc., which have enabled the healthy development of the Group. As a result of China'

s rapid economic development and urbanization, copper consumption in China continued to grow. In addition, as copper resources are relatively short in supply in China, and there exists strong demand for copper products manufactured from scrap copper, it is predicted that copper production in China will continue to fall below demand in the coming years. Further, to stimulate growth in the domestic economy, the PRC government is going to build and upgrade power transmission and distribution, communication and transportation networks etc., which will lead to substantially higher demand of cable products, and will greatly benefit the development of the Group. In 2013, the Group made substantial progress in various businesses. In particular, the second production lines of Tongxin facility and Jinxin facility both commenced production in November 2013, raising the Group'