The board of directors of Xinjiang Xinxin Mining Industry Co,.Ltd announced that, based on the information currently available to the company and the preliminary review by the company's management of the unaudited management accounts of the group for the six months ended 30 June 2014, the group is expected to record an increase of not less than 150% in its consolidated revenue and not less than 13 times in its consolidated net profit for the six months ended 30 June 2014 as compared to unaudited consolidated revenue and net profit of the group of RMB 425,993,175.53 and RMB 3,202,459.14, respectively, for the six months ended 30 June 2013. The Board believes that such increase in consolidated revenue and net profit is primarily attributable to the significant increase in the sales volume of nickel cathode the group's main product, by the group for the six months ended 30 June 2014; the continuous increase in productivity and decrease in production cost of nickel cathode, by the group for the six months ended 30 June 2014; and the rebound of the market prices of nickel cathode in the second quarter of 2014.