Add New Energy Investment Holdings Group Limited (Hong Kong SAR, China)

The Group are a mining company based in Shandong Province, the PRC. The Group are principally engaged in iron and ilmenite ore exploration, iron ore mining and iron ore processing to produce iron concentrates. The Group sell The Group’s products directly to The Group’s major customers who are mainly iron pellets or steel manufacturers located in close proximity to us. The Group possess mining rights in respect of The Group’s Yangzhuang Iron Mine, Zhuge Shangyu Ilmenite Mine and Bashan Iron Project, and own the exploration rights over The Group’s Yangzhuang Iron Mine, Qinjiazhuang Ilmenite Project, Zhuge Shangyu Ilmenite Mine and Gaozhuang Shangyu Ilmenite Project, all of which are located in Yishui County of Shandong Province, the PRC. The Group’s geological work is carried out by IGME, The Group’s only Independent Third Party Surveying Contractor since 2003, as The Group do not carry out geological surveying work ourselves since The Group’s Directors consider that it would lower The Group’s operational costs by engaging an Independent Third Party Contractor instead.