About Us

The Group is committed to stabilising our core business with optimised structure, and securing transformation and towards to a professional listed company in resources and energy. With ongoing consolidation of our existing core business and enhanced dual-driver strategy of “investment + trade”, the Company’s value creation capability continued to improve. In terms of the consolidation of our existing core business, we continued to step up our efforts in raising storage and production, persistently expanded the scale of production and sales, continued to introduce new processes and technologies, and empowered the development of the Company through technological innovation. Expansion of the oil trading business went well on the back of our dual driver of “investment + trade”. We are looking to gain access to and participate in the market through trade with a low-risk profile in the next 2-3 years, increase our market participant, create a solid foundation to gain access to more upstream investment opportunities and first-hand oil sources, forming a virtuous cycle. Our investment focuses on key metal industry chains such as aluminum. We have obtained certain products’ underwriting rights through minority equity investment,. The Company will dig into investment opportunities in the aluminum industry in existing developed markets. Meanwhile, it is our intention to promote green electrochemical transformation, industrial chain extension, cutting-edge primary aluminum manufacturing and other fields of industrial upgrading.

In 2024, the Group has investigated the potential of our existing projects with technological innovation, striving to exploit the value of our projects. Driven by refined management and optimised resource allocation, we set our eyes on efficiency improvement, ensuring the stable operation of our existing assets. 

The Group’s oil and gas business ran smoothly in an orderly manner. We tapped the potential of our existing oil and gas projects with continued and improved management in the study and development of technological innovation. Starting with refined management, we improved oil extraction and raised storage and production, and taking advantage of technological innovation, efficiencies were improved and existing assets operated smoothly with the continued introduction of new technologies and new processes.We have obtained remarkable results from the study and evaluation of Hainan Block 20 in Yuedong Oilfield, with reserve upgraded in the block. KBM Oilfield promoted the ongoing exploration and expansion of Qianshan and Binhai reservoir, in which Binhai proved to be C1 category. Seram oilfield actively promoted POD approval of its natural gas reserves in Lofin area, strengthened scientific adjustment of producing wells, kicked off supporting wells, and attempted to apply chemical water plugging technology. In 2024, production of the Group’s oil and gas business was on a steady uptrend and achieved satisfactory results in increasing storage and production. 

Upon completion of the establishment of our risk control system, counterparty onboarding process, credit line application and other preparations, our oil trading business was officially launched during the year. The operation went well with steady growth in revenue. The business reported a revenue of HK$5.93 billion for the year and became an integral driving force for the new development of the Group. Meanwhile, leveraging the synergy with other oilfield investment, the trading and marketing raised the sale price of equity oil according to local conditions, expanded its export channels for oil products, and diversified the market value of oil products.

For non-oil-and-gas business, the Company fully exercised its rights as a shareholder, was heavily involved in the operation and management process of the project, identified issues in a timely manner, assisted in the problem solving process, and conveyed the Group’s message in improving quality and efficiency to the operators. With the steady progress made in restoration and construction of Portland Aluminum Smelter’s production capacity, the signing of a new EHA power guarantee agreement, efforts in our study in cost reduction and efficiency space and price rise of electrolytic aluminum on favorable timing, we managed to turn around and recorded a profit. In addition, we have reallocated resources to resolve CMJV coal business’s bottleneck issue. Upon completion of the share swap deal with Alcoa Corporation in respect of the 9.6117% stake in Alumina Limited (AWC), we recorded a profit after tax of approximately HK$114.4 million, in line with the interests of our shareholders.

In order to achieve our goals in sustainable development, the Company has persistently and deeply integrated environmental, social and governance (ESG) concepts into its corporate strategy and daily operations, and is committed to striking an ideal balance between business development and environmental protection, and actively fulfilling social responsibilities.

As a player in the resources and energy sector, we understand the far-reaching impact of our decisions on the environment. Therefore, the Company strictly follows environmental protection measures in our operation process, adheres to clean production, actively responds to climate change, and strives to reduce and control pollutant emissions. While meeting social demand for resources and energy, we strive to promote the harmonious development and common progress of social economy and the environment.

For production safety, the Company is committed to adhering to the “safety first, prevention first and comprehensive management” policy in the prevention of all avoidable accidents, and always puts the health and safety of employees as our first priority.

With these efforts, the Company was awarded as an Outstanding and Sustainable ESG Company in green development and carbon neutrality in March 2024. Our MSCI ESG rating was significantly improved by two grades, from “B” to “BBB”, establishing a green and positive corporate image.

Looking ahead to 2025, together with the difficult and complex global economic environment, sluggish and uncertain recovery and subdued commodity prices, the Company’s operations are expected to be more challenging. However, there are always opportunities and challenges. We are seeing investment opportunities in the waves in global energy transformation and the rise of renewable energy. With our commitment and dedication, we are adopting stringent risk monitoring and controlling measures, and are also looking to improve operational efficiency with continued ramp-up in resources allocation and our “investment + trade” dual-driver development model, alongside our journey to equip ourselves as a sophisticated resources and energy listed company, return to shareholders with sustained high-quality value creation capability, and open up a brighter future for the Company.