Minmetals Land

It also plays an instrumental role in assisting the Company to achieve its business objectives. Founded in 1950, China Minmetals is one of the largest State-owned conglomerates that operate globally with core businesses in exploration, mining, smelting, processing and trading for metals and minerals, real estate, finance and mining and metallurgic technology. It is also one of the 21 State-owned enterprises as authorized by the State-owned Assets Supervision and Administration Commission of the State Council to operate real estate development as core business. In 2017, China Minmetals achieved total revenue of approximately RMB500 billion, ranking 109th among the US Fortune Global top 500 enterprises. By leveraging the abundant financial resources and enormous business network of China Minmetals, Minmetals Land utilizes its unique position and competitiveness as the sole Hong Kong listed real estate flagship of China Minmetals and expands its real estate development business across various provinces and cities in the country under a well-established and efficient operating platform. The brand "Minmetals Land" has gained considerable market recognition in China. Minmetals Land has closely monitored the ever-changing macro-economic situation and the nationwide tightening policies imposed on the real estate sector so as to adhere to the central government policies by making timely adjustments to its corporate strategy when appropriate. Whilst seeking opportunities to expand land bank in the usual way, we are keen in getting hold of opportunities arising from mergers and acquisitions to achieve business expansion. We observe the cyclical changes in the real estate industry with an aim to replenish our land bank, to achieve economies of scale and to divers