A：Yes, the company officially changed its name to Hong Kong Gold Industry Group Limited, which may be referred to as Hong Kong Gold Group for short.

A：The company's main business was iron ore mining, but the plan to transform into new energy was not successful. At that time, the company planned to transform into the new energy field, so the name was given, but in fact the new energy business did not develop.

A：The company's business scope is very clear, is to do the gold industry chain, including product trade and mining.

A：We decided to formally transform into a gold industry in October last year and acquired related assets. In the past year, the company's operation was not satisfactory, with an operating income of only more than 70 million and a loss of more than 80 million, mainly because an ilmenite mine in Shandong is still under construction.

A：The traditional business of ilmenite will continue to operate, but not as a focus, and may be sold or cooperated in the future according to the needs of business development.

A：Since March this year, the company has completed more than 0.5 billion public equity financing and invested in the acquisition of some gold and silver mines and the development of trading business.

A：The company's goal in the next ten years is to become the world's leading gold industry group, including the acquisition of 10 large and medium-sized gold mines in the world, the natural amount of gold retained to reach 1000 tons, the annual output of 10 tons of gold and the annual profit of 10 billion Hong Kong dollars.

A：The company has formulated a three-step strategic goal. The first step is to achieve the acquisition of 2 to 300 tons of gold ore and the output of 2 to 3 tons of gold in the next three years; the second step is to enter a rapid expansion in the next three years or so. During the period, the amount of resources and annual output doubled, and the market value target reached 30 billion to 50 billion; the third step is to achieve a more long-term strategic goal around 2032.

A：By 2035, we hope that the company's resources can reach 1000 tons, the annual output of gold can reach 10 tons, and the market target is 100 billion.

A：We will build a gold industry group with a full industrial chain, covering mining, selection, trading and retail businesses, and build core competitive barriers through industrial chain extension.

A：There are about a dozen gold mining companies in the market, but there are only a handful of companies that have truly realized the entire industry chain, only about three or five. We are the first company to propose comprehensive development and build a comprehensive gold industry group, and have unique advantages, based on the world's second largest international financial center and the future largest gold trading center-Hong Kong.

A：At present, the focus is on the development of mining business, including gold and silver mining. At the same time, it is also promoting smelting business, establishing a refinery in Hong Kong, and seeking acquisition or cooperation opportunities in China. In addition, we trade gold concentrates and silver gold mines and other ore trading businesses worldwide, as well as expanding our retail business with a number of gold and jewelry companies.

A：We have assembled a team of industry experts to bring in talent from top domestic mining companies. It is currently searching for high-quality mine resources, especially gold mines, worldwide and has successfully acquired a large gold and silver mine project. In the future, mining profits are expected to account for 50% or even 70 to 80 of the company's total profits. At present, it is in the infrastructure construction period, laying the foundation of 10 billion market value through the accumulation of resources and production.

A：It plans to continue to acquire gold mines in South America, Africa and Oceania, while working with domestic institutions to set up exploration companies to find early-stage projects. It is expected that after the completion of the existing acquisition, the resource volume will exceed 600 tons, and it is expected to achieve a profit of US $0.2 billion by 2028, when it will enter the Hong Kong Stock Connect and start a period of rapid development.

A：The long-term goal is to become a first-class comprehensive mining group with international influence in Asia, complete the acquisition of 10 gold mines within ten years, achieve a resource volume of more than 1000 tons, and an annual output of 10 tons, catching up with and surpassing the current Chinese gold mining company Leading company.

A：The company plans to achieve a market value of HK $100 billion in the next ten years through capital operation and industrial development. The specific steps are divided into three stages: the first stage is progressing smoothly, some acquisitions have been completed and most of the goals have been achieved; the second stage will enter a period of rapid development after entering the Hong Kong stock connect, which is expected to develop rapidly in the three years from 2028 to 2030; the third stage will enter a period of steady growth and consolidation.

A：The company originally planned to transform new energy, involving wind power, optoelectronics and other businesses, but due to various reasons, it did not implement the transformation plan. Now it has transformed into a gold-based company in the entire industry chain, focusing on the development of gold business.

A：When the price of gold falls, the shares of gold companies usually fall more, but in the long run, companies are more concerned about the upward trend of gold prices and the company's cash flow and future development potential. Although the price of gold has been adjusted recently, from the perspective of long-term investment, what is purchased is the cash flow and growth of future companies, not the rise and fall of short-term stock prices or gold prices.

A：The company's core competitive advantages mainly include two points: first, it has strong financing ability and efficient capital operation ability, and plans to raise more than HK $1 billion through the Hong Kong capital market this year; second, it has a group of mining experts from large domestic mining companies, which can quickly acquire high-quality mining resources around the world and increase the company's resources and output.

A：The company actively responds to the national strategy and is committed to promoting Hong Kong to become the world's largest gold trading center. It has participated in and implemented a series of related measures, such as the establishment of a gold industrial park in the northern metropolitan area of Hong Kong, the establishment of a gold industry fund, etc., and has won the Hong Kong Special Administrative Region Adopted and supported by the government and the Legislative Council. The company will continue to promote the construction of refineries, the issuance of Universal Gold Coins (RWAs) and the development of digital gold business in accordance with the strategic plan of the Hong Kong Government to help Hong Kong build an international gold trading, storage and clearing center.