[forecast of performance] net profit of Mount Everest in Tibet increased by 69.16% to 92.23% in 2017

SMM1, 22 Jan (Xinhua) on January 18, Tibet Everest Resources Co., Ltd. announced its results, saying that in 2017, the company's results are expected to make a profit of 110, 000-1.25 billion yuan. Among them, Tazhong Mining Co., Ltd., a wholly owned subsidiary of the company, realized a net profit of about 120000-1.35 billion yuan in 2017. It is expected that the net profit attributable to shareholders of listed companies in 2017 will increase by 69.16% to 92.23% compared with the same period last year (net profit attributable to shareholders of listed companies in 2016: 650.257 million yuan). The net profit attributable to the shareholders of the listed company is about 110, 000-1.25 billion yuan. The net profit attributable to the shareholders of the listed company after deducting the non-recurrent profit and loss is about 114,000-1.29 billion yuan.

The main reasons for the performance surplus for the current period are:

1. in 2017, the price of lead and zinc, the main products of the company, has increased greatly compared with the previous year;

2. in 2017, the company's selection and processing capacity and product output (metal content) have been greatly increased compared with 2016;

3. the company's disposal of two discontinued smelting subsidiaries resulted in a decrease in losses in the current period compared with the same period last year.

The main business of Mount Everest in Tibet is the production and sale of non-ferrous metal smelting and related products. at present, the main operating assets are Tazhong Mining Co., Ltd., a wholly owned subsidiary located in the Republic of Tajikistan. The main production of lead concentrate, zinc concentrate, copper concentrate products.

Review history

In August 2017, Tibet's Everest signed an agreement with Geshi Xiangjin and Huarong overseas Chinese Asset Management Co., Ltd. (hereinafter referred to as Huarong overseas Chinese) to establish an investment and merger fund for Tibet's Qomolangma Geshi Huarong Resources to invest in overseas mineral resources projects. The target fund will focus on lithium mining projects because of the prospect of Mount Everest in Tibet for the lithium industry.

Around November 16, Tibet's Mount Everest issued an announcement that the lead smelting project invested and constructed by its wholly owned subsidiary Tazhong Mining Co., Ltd. (hereinafter referred to as Tazhong Mining) in the Republic of Tajikistan (hereinafter referred to as Tajikistan) was officially completed and put into use. Enter trial production. According to the data, the lead smelting project of Tazhong Mining is located in the Zhongta Industrial Park in Isjicro City, Sarkkin, Tajikistan, less than 30 kilometers away from the Tazhong Mining Concentrator. In April 2016, the Tazhong Mining lead smelting Project started, with a cumulative investment of about US $57 million. As of November 20, the lead smelting project was officially completed and entered trial production, with an expected annual production capacity of 50,000 tons of crude lead after reaching production. At present, the raw materials are mainly provided by Tazhong Mining Industry, the self-sufficiency rate is 100%.

On the evening of December 19, Tibet's Everest announced that its overseas shareholding company, NNEL, intended to buy Lithium X Energy Corp (, a listed company focused on lithium resources exploration and development in Canada, for a price, hereinafter referred to as Li-X). At the same time, Tibet's Mount Everest will provide NNEL with a financing quota of up to C $265 million. Lithium-X 's projects are expected to go into production by the end of 2018 or early 2019, with a gross profit of more than $250 million a year after production. if the products are shipped back to China at the current domestic price of $25000 per ton, Its annual gross profit will reach 650 million US dollars, equivalent to about 4.29 billion yuan.