Xinjiang is endowed with abundant mineral deposits which spread across Xinjiang Altay, Tianshan and Kunlun mountains. Some mineral deposits are located in the prolific Tianshan and West Junggar mineral belts of Xinjiang which extend westward into the Central Asian Republics of Uzbekistan and Kyrgyzstan. Strong demand for minerals from eight neighbouring countries and favourable transportation infrastructure in Xinjiang assists Xinjiang to achieve its goal of being the new Euro-Asia continental bridge. We believe that we are well positioned to capture the business opportunities arising from the development potential of nickel mining and nickel reserves in Xinjiang. In 2006, we are the second largest integrated producer of nickel cathode in the PRC. As a large scale comprehensive non-ferrous enterprise engaged in the mining, ore processing, smelting and refining of nickel, copper and other non-ferrous metals, Xinjiang Xinxin Mining Industry Co., Ltd. is always dedicating to build itself into a leading enterprise in the industry. With continual investment in explorations, we believe more nickel reserves will be discovered, by which we set to grasp the strategic control on nickel resource. Our level of nickel resources provides sufficient raw material for our whole industrial chain and brings us more market competitiveness. We are also proactively seeking to expand our business into other districts of Xinjiang and neighboring countries endowed with abundant mining resources (such as nickel and copper).At the same time, we are shooting for the exploration rights with definite and considerable mineral resources and reserves. We believe, through business expansion into other districts of Xinjiang and adjacent countries, we are able to control more mineral reserves and maintain sustainable development in a long run. Facing the booming economy of China and the gradual improvement of market economy, we will continue to focus on the existing customers on one hand. On the other hand, we are to be in more favourable positions by virtue of the improvement of our production capacity and the completion of technology upgrade which enable us to enter into supply agreements with more large customers. In October 2007, we listed on Hong Kong Stock Exchange, raising a large amount of capital for the Company through Hong Kong, the international financial stage. Utilizing the capital, we plan to constantly improve our product quality to cope with the increasing demand of nickel, copper in the market. Meanwhile, we will further increase resource reserve, expand production scale and improve production capacity to enhance the Company's competitive edge. We will make more efforts in improving the Company's position and influence in the international and domestic market. By entering into Hong Kong financial market, we laid a solid foundation for the Company to step into the international market. We believe the moves will bring a broader and more promising future for the Company's development. The Company will continue to capture every market opportunity, further integrate business resource, adjust product mix, enhance management and strengthen the base of development, to constantly expand the Company's business scale, maintain a steady growth for the Company's business volume and achieve better operating results. We believe we will create more favourable and valuable return to our shareholders in future. Chairman