AOWEI HOLDING LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(incorporated in the British Virgin Islands and continued in the Cayman Islands with limited liability)
(Stock Code: 1370) LATEST BUSINESS DEVELOPMENT OF JIHENG MINING
This announcement is made by the board (the "Board") of directors of Hengshi Mining Investments Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).
One of the indirect wholly-owned subsidiaries of the Company, Laiyuan County Jiheng
Mining Co., Ltd. (l!Rì!!l!'l'!ll!�f�0il) ("Jiheng Mining"), acquired a wet processing
plant in Muji Village of Laiyuan County, Hebei Province in June 2014. Such wet processing
plant has a processing capacity of 1.8 million tonnes per annum and started trial operation in
July 2014.
As the new wet processing plant has been operating stably, the high-grade iron ores recovered by Jiheng Mining have been processed into iron ore concentrates rather than being sold directly, and the new equipment has finished testing and started stable operation, the cash operating cost of Jiheng Mining witnessed a continuously decreasing trend and maintained at a low level for the three months ended 30 September 2014.
The following table sets forth the output and the unaudited and unreviewed cash operating cost of iron ore concentrates of Jiheng Mining for the periods indicated.
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31 July 2014 31 August 2014 30 September 2014
The wet processing plant of Jiheng Mining has greatly increased the Group's production capacity of its iron ore concentrates. Jiheng Mining's products primarily sold changed from iron ores and preliminary concentrates to iron ore concentrates after the wet processing plant started operation, which enhanced the sales radium of Jiheng Mining's products and further strengthened its geographical advantage. In addition, the Company expects that Jiheng Mining's stable production of iron ore concentrates at a low cost would further enhance the Group's cost advantage. The Company expects such factors to continue to positively affect the Group's business operation and its ability to create value for the Company's shareholders.
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the Company's securities.
By order of the Board
Chairman
Beijing, 17 October 2014
As at the date of this announcement, the executive directors of the Company are Mr. Li Yanjun, Mr. Leung Hongying Li Ziwei, Mr. Xia Guoan, Mr. Sun Jianhua, Mr. Huang Kai and Mr. Tu Quanping and the independent non-executive directors of the Company are Mr. Ge Xinjian, Mr. Meng Likun and Mr. Kong Chi Mo.
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