Tian Yuchuan, executive director of Citic Resources (1205.HK), said he was ready to start the listing of the spin-off manganese business at any time. In addition, for Citic Resources, the net profit fell by 43% last year, Goldman Sachs Group believes that it is still better than expected, and expects a strong recovery in 2010; maintain the purchase, the target price is 2.70 Hong Kong dollars.
Citic Resources closed at HK $2.029 yesterday.