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Public company info - Add New Energy Investment Holdings Group Ltd. , 02623.HK
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Add New Energy Investment Holdings Group Ltd., 02623.HK - Company Profile
Chairman Li Yunde
Share Issued (share) 5,294,000,000
Par Currency Hong Kong Dollar
Par Value 0.002
Industry Steel
Corporate Profile Business Summary: The principal activities of the Group are principally engaged in iron ore mining and processing, sales of iron concentrates in the People’s Republic of China (the “PRC”). Performance for the year: During the year ended 31 December 2019, the total comprehensive loss from continuing operations of the Group was approximately RMB76.9 million, representing a decrease of 24.9% as compared to loss of RMB102.4 million of the year ended 31 December 2018; and the operating revenue increased by RMB106.1 million, representing an increase of 48.8% as compared to RMB217.2 million of the same period last year. Business Review 2019 marks the year that the industry faced challenges from safety production and environment supervision, it is also the year that the Company made every effort to consolidate the foundation of its principal business by taking the following main measures: I. Throughout this year, there was no mining in the Group’s own mines due to tightened control over environmental impact assessment, safety assessment and the issue of mining permit in China. Facing the picked up iron concentrate price and riding its close access to the port from its processing plant, the Company had actively conducted the businesses of port trade as well as overseas ore reprocessing and sales. II. The reserve of Yangzhuang Iron Mine has been verified with a current reserve of 28.80 Mt as assessed by the experts from the Department of Natural Resources of Shandong Province. The Group had also obtained certificate of reserves, filed geological data and conducted the registration of occupying reserves, which has been preliminarily assessed by the Bureau of Natural Resources of Yishui County, pending to be assessed by the Bureau of Natural Resources of Linyi City and to be approved by the Bureau of Natural Resources of Shandong Province. III. A reserve of 3,549 tons of rubidium ore was detected in Yangzhuang Iron Mine with a contained metal of 4.47 tons and a grade of 0.126% (industrial grade of 0.12%) through exploration. In light of the fact that rubidium is a kind of highly scarce and very expensive mineral substance at present, the Group will conduct mining, producing, processing and sales in due course. IV. The experts from the Department of Natural Resources of Shandong Province have reviewed the environmental management and land rehabilitation program in respect of Yangzhuang Iron Mine and expressed their opinion. Through environmental management and land restoration, the Company has explored quite a lot of ore, rubble and sandy soil. Among them, the ore can be processed into iron concentrate and tailings for marketing, the rubble can be processed into carpolite and the sandy soil can be processed into sand. Both the carpolite and sand have become desperately demanded building materials at the moment and will be realized into economic benefits in the near future. V. The environmental impact assessment on technical improvement of Yangzhuang Iron Mine has also accepted the review of relevant experts. Once verified, the Group will be able to process building materials for sale by capitalizing on the mine restoration. The implementation of this project can generate considerable economic income. VI. Zhuge Shangyu Ilmenite Mine has passed safety pre-evaluation in handling the procedures of safety production permits, paving a sound foundation for the exploration and processing of ilmenite ore into ilmenite powder. The verified reserve available for mining amounted to 28.456 Mt. VII. As the saying goes, the best is yet to come. To this end, the Company has committed to the continuous improvement of its management of internal control. More precisely, the Company will strengthen the management of internal control and engage an independent third party to constantly enhance the management level of internal control. The Company will strengthen its own capability in checking the management of internal control, thus continuously enhancing the overall management level. Prospects: By closely following market demands and trend changes, the Group will maintain its competitive edge in the sector of its traditional businesses, including mining, production, sales of and other services for iron and titanium ores and concentrates and other protective mining resources. At the same time, the Group will continue to invest in the expansion of the titanium industrial chain and substantially promote its new energy business. The Group will make greater efforts towards the following plans in 2020. I. Utilising the brand new processing technique acquired and achieving mass production while maintaining its competitive edge in the sector of its principal businesses The Group will continue to maintain its competitive edge in mining, production and sales of protective mining resources, while providing after sales services to establish close relationships with upstream and downstream businesses within the industrial value chain of the sector. In particular, the Company has recorded preliminary economic benefits since the intellectual proprietary rights of the brand new processing technique were acquired in 2018. The Group will strive to expand the production through this technique to bring favourable economic benefits for the Group. II. The Group will continue to make greater efforts in the planning and implementation of a comprehensive industrial value chain, including mining and processing of ilmenite ore and production of titanium concentrates, high titanium slag, titanium tetrachloride and sponge titanium. Based on internal research and development of production, the Group will continue to enhance research and development cooperation with the Chinese Academy of Sciences and technology transfer cooperation with the Russian Academy of Sciences with an aim to achieve significant technical breakthroughs. In response to market demands, the Group will make timely investments in technical transformation and strive to transform the above-mentioned technical advantages into productivity, with an aim to improve the profitability of the Company. III. While in the mining of its own mines, facing the picked up iron concentrate price and riding its close access to the port from its processing plant, the Group had actively conducted the businesses of port trade as well as overseas mines processing and blending, in order to generate further revenue. IV. The reserve of Yangzhuang Iron Mine has been verified with a current reserve of 28.80 Mt as assessed by the experts from the Department of Natural Resources of Shandong Province. The Group had also obtained certificate of reserves, filed geological data and conducted the registration of occupying reserves. It is expected that the renewed mining permit will be obtained this year. V. A reserve of 3,549 tons of rubidium ore was detected in Yangzhuang Iron Mine with a contained metal of 4.47 tons and a grade of 0.126% (industrial grade of 0.12%) through exploration. In light of the fact that rubidium is a kind of highly scarce mineral substance at present, the Group will also implement value assessment this year and conduct mining and processing in due course. VI. The experts from the Department of Natural Resources of Shandong Province have reviewed the environmental management and land rehabilitation program in respect of Yangzhuang Iron Mine and expressed their opinion. After more than one decade’s exploration and processing, the Yangzhuang Iron Mine is now stored with a great deal of tailings, which can serve as qualified raw materials of various cement factories. This business will become a new economic driver this year. VII. The Group will actively integrate and utilize resources of existing wind power projects. The Group plans to cooperate with strong enterprises to provide the Company with opportunities of economic growth by efficiently using resources and assets. VIII. Focusing on the continuous improvement of management of internal control, the Company will enhance its comprehensive management to pave solid foundation for improvement of results. IX. Capitalising on the platform as a listed group and taking proactive measures for various projects in the capital market Capitalising on the financing platform as a listed group, the Group will take proactive and adequate measures in respect of shareholders communication and investor relations, while continuing to strengthen its financing efforts, expand its shareholder base and enhance liquidity of its shares. Financing will also be provided for key construction projects, merger and acquisition projects, or expansion of the titanium industry value chain.

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