Qin Zhiwei: Can do more than 4 billion national distribution renewable resources market

April 8 News China's largest renewable metal resource Enterprise, Chairman and chief executive officer of China Metal Renewable Resources Co., Qin Zhiwei, said today that the company's target sales will double this year, with an annual output of 3.6 million tonnes. Qin Zhiwei pointed out that the renewable metal industry in the demand for working capital is very large, have a good listing financing platform for the expansion of market share and integration of the industry is very important.　　He predicts that the effect of the company's previous two fundraising will appear in 2010. "The company's private placement in 07 accelerated the national layout, the successful listing in 2009 and raised 230 million U.S. dollars, after the company's debt equity ratio from 08 93% to September 09 8% and cash on hand of HK $800 million, and earlier this year, the bank of 3.5 billion renminbi reserve line of credit."　　"Qin Zhiwei revealed.　　In view of the current situation of China's renewable metal industry, Qin Zhiwei that China's current renewable resources industry is still in its infancy, is very decentralized, small enterprises, equipment backward, and home-based operation, technology lags behind in Europe and America and other developed countries more than 30 years.　　Qin Zhiwei pointed out that China is the world's largest consumer of metals, but according to the China Scrap Iron and Steel Application Association statistics, China's steel production, only 14% from scrap steel, far less than 60% in Europe and the United States, so China's metal recycling industry still has a lot of room for growth.　　He said to Sina Finance, metal products generally need 8-30 years recycling into renewable resources, China's high-speed development in the past more than 10 years, renewable metal resources have not formed a very good cycle, resulting in the supply of renewable metal resources, the proportion of applications far less than Europe and the United States. "With the continuous industrialization of China, the development of urbanization, the demand for recycled metals will continue to flourish, the future of renewable metal reserves such as scrap cars and home appliances will be released to the market, to provide a huge development space for the industry."　　"Qin Zhiwei said.　　He pointed out that the domestic renewable metal industry to reduce the gap with the United States and Europe, the development direction of the industry needs large-scale integration, the formation of large-scale operation, modern management of large-scale unified processing distribution base model. "In addition to effective integration, investment in advanced machinery and equipment and environmental protection systems, large-scale operation, modern management mode is the only way to develop the industry." "Qin Zhiwei said. (Ann from Boao)