We are a diversified non-ferrous metals mining company based in Hami. Hami is a prefecture-level city located in China's resource-rich Xinjiang Uygur Autonomous Region. Currently, we are mainly engaged in nickel and copper mining and ore washing. Among these metals, we believe that the rapidly growing domestic demand for nickel provides a particularly favorable business environment for our enterprises to supply high-quality refined nickel and copper to the market. Many industries regard nickel as a particularly valuable commodity because of its hardness and oxidation resistance, so it is not surprising that China is the world's largest consumer of refined nickel. However, domestic nickel supply is unable to meet its increased demand, and the imbalance between supply and demand further favors our current business environment. Overall, the abundant and growing reserves of non-renewable ores under our control are the cornerstone of long-term business expansion. In addition to the three mining projects that currently have valid mining and production safety licenses, we also hold seven exploration licenses, including copper, nickel, lead, zinc and gold, with a total exploration area of over 44 square kilometers. We also plan to quickly obtain a non-ferrous metal mining license in Shaanxi Province through the acquisition. The annual output of nickel-containing ores and concentrates in Xinjiang is 4.63 thousand tons, accounting for about 5% of China's total annual production. We are optimistic about the outlook and are ready to move forward to seize the opportunities brought by many mining projects in Xinjiang. At the same time, our highly experienced management team has extensive knowledge in the exploration, mining and washing of nickel and other non-ferrous metal ores in Xinjiang. Through an in-depth evaluation of these assets, we will seek the best acquisition targets to help the company achieve endogenous growth. The company's senior management team includes geologists and engineers with extensive industry expertise in mineral reserve exploration, mine construction, operation and safety. The senior management team has developed a series of successful business strategies to help the company become one of the leading diversified metal mining companies in China, including expanding our mining and ore washing capacity while closely monitoring the price trends of our various commodities; and expanding our ore reserves through further exploration and selective acquisitions. Additionally, we will expand our product portfolio and geographic coverage to reduce business risk and expand our revenue base. We will also strengthen partnerships with existing and new customers to more fully meet their supply needs while helping to protect and maintain our environment in accordance with the strictest regulations.
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