a4a99ecc-18ea-457d-aaca-55bfa262bf96.pdf


CHINA BILLION RESOURCES LIMITED‌‌‌‌‌‌‌‌‌‌‌

中富資源有限公司*


(Incorporated in the Cayman Islands with limited liability)

(Stock code: 274)


Annual Report 2012


* For identification only

CONTENT


Corporate Information 2

Chairman's Statement 3

Management Discussion and Analysis 4

Biographical Details of Directors 8

Corporate Governance Report 10

Report of the Directors 23

Independent Auditor's Report 33

Consolidated Statement of Comprehensive Income 38

Consolidated Statement of Financial Position 40

Consolidated Statement of Changes in Equity 42

Consolidated Statement of Cash Flows 43

Notes to the Consolidated Financial Statements 45

Five Years Financial Summary 93

CORPORATE INFORMATION


BOARD OF DIRECTORS Executive Directors

Mr. Long Xiaobo (Chairman)

Mr. Zuo Weiqi (Chief Executive Officer)

Mr. Chen Yi Chung (appointed on 27 July 2012)


Independent Non-executive Directors

Mr. Jin Shunxing

Mr. Chiang Tsung-Nien (appointed on 19 January 2012) Ms. Liu Shuang (appointed on 28 April 2014)


AUDIT COMMITTEE

Mr. Jin Shunxing (Chairman of Audit Committee)

Mr. Chiang Tsung-Nien (appointed on 19 January 2012) Ms. Liu Shuang (appointed on 28 April 2014)


REMUNERATION COMMITTEE

Mr. Jin Shunxing (Chairman of Remuneration Committee) Mr. Chiang Tsung-Nien (appointed on 19 January 2012) Ms. Liu Shuang (appointed on 28 April 2014)

Mr. Long Xiaobo


NOMINATION COMMITTEE

Mr. Long Xiaobo (Chairman of Nomination Committee) Mr. Chiang Tsung-Nien (appointed on 19 January 2012) Mr. Jin Shunxing

Ms. Liu Shuang (appointed on 28 April 2014) Mr. Zuo Weiqi


COMPANY SECRETARY

Mr. Cheung Yuk Chuen (appointed on 14 August 2013)


AUTHORISED REPRESENTATIVES

Mr. Chen Yi Chung (appointed on 27 July 2012) Mr. Zuo Weiqi


REGISTERED OFFICE

Cricket Square, Hutchins Drive

P.O. Box 2681

Grand Cayman KY1-1111 Cayman Islands


HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS

Room 2811, 28/F.,

China Merchants Tower

No.168-200 Connaught Road Central Hong Kong


HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE Tricor Tengis Limited

Level 22, Hopewell Centre 183 Queen's Road East Hong Kong


AUDITORS ZHONGHUI ANDA CPA Limited

Unit 701, 7/F., Citicorp Centre

18 Whitfield Road, Causeway Bay Hong Kong


COMPANY'S WEBSITE

www.chinabillion.net


STOCK CODE

274


PRINCIPAL BANKERS The Hongkong and Shanghai Banking Corporation Limited

1 Queen's Road Central Hong Kong


Agricultural Bank of China (Hong Kong) Ltd

25th Floor, Agricultural Bank of China Tower 50 Connaught Road Central

Hong Kong


2 China Billion Resources Limited

CHAIRMAN'S STATEMENT


Since 2011, China Billion Resources Limited ("Company") has undergone various challenges, especially that the shares of the Company have been suspended from trading on The Stock Exchange of Hong Kong Limited ("Stock Exchange") due to the delay in the publication of the audited financial reports which is in part due to the debt restructuring of the Company during the said year. I would like to express my heartfelt gratitude to our management, staff, customers, suppliers, business partners, professional parties and last but not the least, our shareholders, for their continuous support and efforts to the Company and its subsidiaries (collectively referred to as "Group").


During the year 2011, certain plants and equipment of the Group have been rendered redundant as a result of the debt restructuring and subsequently in year 2013, those plants and equipment together with the household and industrial products business segment have been disposed of to an independent third party. This is to better reallocate resources for future investment in any potential new lucrative projects that may arise.


The Company will continue our investment in the gold mining business by investing more resources into the basic structural infrastructure and expertise in gold mining.


Looking forward, the resumption of trading in the shares of the Company ("Resumption") is our prime focus and we target to complete the Resumption in 2015. At the same time, the management of the Company is looking for other investment opportunities to broaden the sources of income of the Group in order to create greater value for the shareholders of the Company ("Shareholders"). Up till the date of this annual report, the Group has not yet concluded any investment project nor signed any investment memorandum or agreement.


Long Xiaobo

Chairman


Hong Kong, 9 February 2015


Annual Report 2012 3

China Billion Resources Limited issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 January 2016 16:38:03 UTC

Original Document: http://www.chinabillion.net/en/doc/2016 English/(009) 2012 Annual Report of the Company (Eng).pdf