China Metal Resources (01636.HK) announced that its mainland subsidiary companies, Copper Xin, Gold Cycle and Thai Viet, held the second creditors' meeting on the 3rd of this month, approved the continuation of the company's production and operation, and agreed to change the joint creditor. The joint administrator stated that Copper Xin, Gold Cycle and Thai Viet are given a 6-month operation period, depending on whether China Metal Resources can resume trading by then. If not, they will apply to the court for bankruptcy liquidation procedures.

China Metal Resources stated that after the first creditors' meeting, the management closely cooperated with the joint administrator. The Youxian District Committee and the Youxian High-tech Zone Management Committee assisted in borrowing a joint debt of RMB 80 million to help relevant companies resume production. The joint administrator subsequently applied to the court for approval, allowing relevant companies to resume operations and production on the 1st of this month. The company stated that there are currently three potential investors with strong intentions, further negotiating with the company, joint administrators and relevant subsidiaries.

China Metal Resources will continue to suspend trading until further notice.