Procedures for a Shareholder to Propose a Person for Election as a Director
For the year ended 31 December 2011, the Company recorded a revenue of HK$995 million and a gross profit of HK$383 million. Hengtai Coal Mine (“Hengtai”) contributed revenue of approximately HK$834 million, while the newly acquired Liaoyuan Coal Mine (“Liaoyuan”) contributed revenue of approximately HK$161 million for a five-month period. The Company has achieved a turnaround profit with an earnings per share attributable to shareholders of HK$0.04; the profit before tax was HK$106 million, representing a significant increase compared to a loss of HK$785 million in 2010; profit attributable to shareholders was HK$55.34 million, while in 2010 the Company recorded a loss for the year of HK$905 million. Gross profit for the year decreased as a result of the decrease in production in the fourth quarter. However, the operation and production of the Company has resumed to normal since December 2011 and it is thus anticipated that gross profit for 2012 will improve.