CITIC Metal Co., Ltd. Held the Twelfth Meeting of the First Board of Directors - News Releases

On June 18th, CITIC Metal Co., Ltd. (referred to as “Citic Metal”) held the 12th meeting of the first Board of Directors. The meeting was presided over by Wu Xianwen, chairman of the Company’s Board of Directors. Directors Liu Yanlong, Ma Manfu, Li Yi and Wang Meng attended the meeting, while members of the company’s Board of Supervisors and senior management attended the meeting without voting rights.

Before the meeting, all participants observed one minute’s silence to deeply mourn Comrade Wang Jun, former chairman and party secretary of CITIC Group.

The meeting deliberated and approved the following seven proposals: 2018 Work Report of the Board of Directors, 2018 Annual Financial Account Report, 2018 Related Transactions and 2019 Estimated Daily Related Transactions, 2019 External Guarantee Plan, 2019 External Financing Plan, and 2019 Entrusted Financial Planning.

The Board of Directors unanimously agreed that in 2018, all employees of Citic Metal have worked actively to overcome difficulties, and the Company has achieved good results in terms of operating performance and internal management, etc. 2019 is a year full of challenge, each business line of Citic Metal shall actively respond to the impact of Sino-US trade friction, timely adjust business strategy, strictly control risks, reasonably control inventory, effectively implement post-investment management, perform well in the management of operating cash flow and free cash flow to ensure liquidity, going all out to ensure the realization of annual business objectives.

After the Board of Directors, Citic Metal continued to hold the second meeting of the first Board of Supervisors, and reviewed and approved seven proposals such as 2018 Work Report of the Board of Supervisors.