Chairman’s Statement

       During the past years, we achieved sustainable growth in terms of business scale and profitability. Our success was achieved through the efforts of our professional management team who always adhered to our beliefs of ‘Faith, Trust, Diligence, Energy'.

       We are currently the largest non-state-owned coal supplier in China and are well positioned to meet the fast growing demand for coal in China.

       Helping us to stand head and shoulders above our competitors is our competitive strengths, backed by our unique and sustainable business model. These strengths include our highly experienced and dynamic management team and an expansive and established coal transportation network that ensures extensive coal supplies domestically and internationally; and integrated coal logistics and sales network.

       We have also diligently achieved long-lasting and fruitful business relationships with our solid clientele of large-scale coal consuming enterprises in the coastal regions of China since our founding in 1996.

       As we are generally recognized for our high level of business performance and etiquette, we will be able to take full advantage of the merger and acquisition opportunities arising in our consolidating industry.

       We believe our competitive advantages combined with our strengths and business development strategies will help us to achieve our long-term vision of becoming a leading international coal operator, and to maximize long-term returns for shareholders.

       Last but not least, I would like to express my sincere appreciation to all shareholders for their support, and thank my fellow colleagues for their hard work and dedication, and our customers for their continuous support.