987b4718-654d-4f9e-8214-e247d1f73468.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 2013

* For identification only

CONTENTS


Corporate Information 2

Chairman's Statement 3

Management Discussion and Analysis 4

Biographical Details of Directors 7

Corporate Governance Report 9

Report of the Directors 23

Independent Auditor's Report 32

Consolidated Statement of Profit or Loss and Other Comprehensive Income 36

Consolidated Statement of Financial Position 38

Consolidated Statement of Changes in Equity 40

Consolidated Statement of Cash Flows 41

Notes to the Consolidated Financial Statements 43

Five Years Financial Summary 87

CORPORATE INFORMATION


BOARD OF DIRECTORS Executive Directors

Mr. Long Xiaobo (Chairman)

Mr. Zuo Weiqi (Chief Executive Officer)

Mr. Chen Yi Chung


Independent Non-executive Directors

Mr. Jin Shunxing

Mr. Chiang Tsung-Nien

Ms. Liu Shuang (appointed on 28 April 2014)


AUDIT COMMITTEE

Mr. Jin Shunxing (Chairman of Audit Committee)

Mr. Chiang Tsung-Nien

Ms. Liu Shuang (appointed on 28 April 2014)


REMUNERATION COMMITTEE

Mr. Jin Shunxing (Chairman of Remuneration Committee)

Mr. Chiang Tsung-Nien

Ms. Liu Shuang (appointed on 28 April 2014) Mr. Long Xiaobo


NOMINATION COMMITTEE

Mr. Long Xiaobo (Chairman of Nomination Committee)

Mr. Chiang Tsung-Nien 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 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 of the Company and its subsidiaries (collectively referred to as "Group").


Due to the debt restructuring which occurred in 2011, certain plants and equipment of the Group have been rendered redundant as a result of the debt restructuring. Subsequently by 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 board of directors of the Company ("Board"), together with the management of the Company, have taken and will continue to take remedial actions to adapt the business strategies of the Group to deal with the current situation faced by the Company. The Company will invest more resources into the basic structural infrastructure and expertise in gold mining and in the meanwhile will seek other investment opportunities to diversify our business portfolio and broaden the source of income of the Group. The Board also acknowledges the need for and the importance of good corporate governance practice and better internal control functions for safeguarding the Company and its shareholders' interests as a whole. Thus, it has and will devote to take positive actions to cope with this.


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, as mentioned, 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 of the Board


Hong Kong, 9 February 2015


Annual Report 2013 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 16:43:16 UTC

Original Document: http://www.chinabillion.net/en/doc/2016 English/(008) 2013 Annual Report of the Company (Eng).pdf