OREANDA-NEWS. September 02, 2011. CITIC Resources Holdings Limited (“CITIC Resources” or the “Company”) (HKEx stock code: 1205) announced the unaudited interim results of the Company and its subsidiaries (the “Group”) for the 6 months ended 30 June 2011 (the “Period”), reported the press-centre of CITIC Resources.

During the Period, the Group recorded a total revenue of approximately HKD 18.4 billion (excluding the manganese segment for 1H 2010: HKD 12.9 billion), representing a strong growth of 42.6% on a year-on-year basis. Profit attributable to shareholders increased by 134.8% to HKD 393.4 million.

The surge in revenue and net profit was mainly attributable to higher selling prices and the recognition of a disposal gain of HKD 273.2 million before tax resulting from the partial sell-down of the Group’s 8% interest in the Codrilla coal project. Basic earnings per share was HKD 6.17 cents and net total debts to net total capital further improved to 35.3%.

Mr. Zeng Chen, President and Chief Executive Officer of the Group, stated: “We are delighted to
present the satisfactory results of the first half of 2011 with surges in both revenue and net profit.
During the Period, we completed a rights issue raising about HKD 2.5 billion before expenses, which significantly strengthened our financial position and uplifted our ability to expedite our robust development plans and capture any future potential investment opportunities. Besides, the partial sell-down of the Codrilla coal project has allowed the Group to realize considerable returns for its investment and accelerate its development at the same time.”

“Moving forward, the Group will continue with its endeavors to bring about full production at the Yuedong oilfield as soon as practicable in order to build sustainable momentum for future growth and capitalise investment returns that enhance shareholders value. With greater financial flexibility and robust growth in businesses, the Group has attained an edge to gain benefits from high demand for energy and natural resources and is well positioned to deal with challenges arising from recent market volatilities,” Mr. Zeng concluded.