PDF《(a company incorporated under the》

(a company incorporated under the laws of Cayman Islands with limited liability) (根旱悍勺⒉岢闪⒌挠邢薰) Stock Code 股份代号 :

1636 Annual Report 年报

2013 2 Corporate Profile 公司概况

3 Chairman'

s Statement 主席报告

5 Management Discussion and Analysis 管理层讨论及分析

20 Directors and Senior Management 董事及高级管理层

29 Report of the Directors 董事会报告

48 Corporate Governance Report 企业管治报告

61 Independent Auditor'

s Report 独立核数师报告

63 Consolidated Income Statement 综合收益表

64 Consolidated Statement of Comprehensive Income 综合全面收益表

65 Consolidated Balance Sheet 综合资产负债表

67 Balance Sheet 资产负债表

68 Consolidated Statement of Changes in Equity 综合权益变动表

70 Consolidated Cash Flow Statement 综合现金流量表

72 Notes to the Consolidated Financial Statements 综合财务报表附注

181 Four Year Financial Summary 四年财务概要

183 Corporate Information 公司资料 Contents 目录

2 2 China Metal Resources Utilization Limited (the Company ) was incorporated in the Cayman Islands as an exempted company with limited liability on

22 February 2013.

The Company and its subsidiaries (the Group ) are a fast-growing manufacturer of recycled copper products, also known as copper semis, in Southwest China. The shares of the Company were listed on the Main Board of The Stock Exchange of Hong Kong Limited (the Stock Exchange ) on

21 February

2014 (the Listing Date ). We process recycled scrap copper and, to a lesser extent, electrolytic copper, to manufacture a range of copper products, including copper wirerods, copper wires, copper plates and copper granules. Beginning in 2013, we also sell a range of communication cables and power transmission and distribution cables using copper wirerods that we produce as the principal raw material. We are increasing our production capacity and plan to broaden our product range and pursue opportunities for further vertical integration. In light of favourable development trends in China and our advantages in raw material supply, facility location and preferential governmental policies, we believe we are well positioned to become a leading integrated recycled copper product supplier in China covering the key value-creating activities in the industry chain. We currently own and operate three production facilities for recycled copper products. The facilities of our subsidiaries Mianyang Jinxin Copper Co., Ltd. ( Jinxin ) and Mianyang Tongxin Copper Co., Ltd. ( Tongxin ) are located in Mianyang, Sichuan Province and the facility of our subsidiary Hunan Yinlian Xiangbei Copper Co., Ltd. ( Xiangbei ) is located in Miluo, Hunan Province. Our Jinxin, Tongxin and Xiangbei facilities are currently in commercial production. This annual report, in both English and Chinese versions, is available on the Company'

s website at http://www.cmru.com.cn/. Shareholders who have chosen to receive the corporate communications of the Company (the Corporate Communications ) in either the English version or the Chinese version may request for a copy in the other language. The annual report in the requested language will be sent free of charge by the Company upon request. Shareholders may at any time change their choice of language(s) (either English only or Chinese only or both languages) of Corporate Communications. Shareholders may send their request to change their choice of language(s) of Corporate Communications by notice in writing to the Hong Kong Branch Share Registrar of the Company with Computershare Hong Kong Investor Services Ltd. at 17M Floor Hopewell Centre,