When some investors asked Zhonghe in Xinjiang, your company announced on December 2, 18 that it planned to set up a wholly-owned Hong Kong subsidiary and the proposed strategic investors to jointly invest in the establishment of a Dubai joint venture to acquire the Guinean bauxite project. There are several questions as follows, A. The project has been established for more than 2 years. What stage has it reached? b. Does the sharp rise in aluminum futures prices in the past six months affect the acquisition plan, which originally invested 831 million US dollars, and whether it is necessary to renegotiate the price with the authorities? c. With the recent sharp rise in alumina prices, is your company's normal development of aluminum hedging and forward settlement and sale of foreign exchange, has it eroded the company's profits in the past half a year?
The company replied that the reply is as follows: (1) the company has completed the filing of the Guinean project and is currently carrying out preliminary work such as engineering design; (2) the project is a new project, the main construction content is plant and machinery and equipment, and the amount of investment in the project has nothing to do with the aluminum price; (3) the recent alumina price has not risen greatly, the price is relatively stable, and the company normally carries out aluminum hedging and other business. Thank you for your attention.
