Exhibit 7
Computation of Ratios for Fiscal Year ended December 31, 2011, 2012 and 2013
|
|
|
| 2011 |
|
| 2012 |
|
| 2013 |
|
|
|
|
|
| CNY’000 |
|
| CNY’000 |
|
| CNY’000 |
|
|
Current assets (a) |
|
|
| 179,085 |
|
| 285,754 |
|
| 296,760 |
|
|
Current liabilities (b) |
|
|
| 811,181 |
|
| 1,315,865 |
|
| 1,464,968 |
|
|
Current ratio (c=a/b) |
|
|
| 0.22 |
|
| 0.22 |
|
| 0.20 |
|
|
Working capital (d=a-b) |
|
|
| (632,096 | ) |
| (1,030,111 | ) |
| (1,168,208 | ) |
|
Short-term bank loans and current portion of long-term bank loans (e) |
|
|
| 225,000 |
|
| 443,900 |
|
| 1,018,550 |
|
|
Mining rights payable – current (f) |
|
|
| 22,612 |
|
| 25,568 |
|
| 38,876 |
|
|
Long-term bank loans (g) |
|
|
| 510,886 |
|
| 569,630 |
|
| 889,504 |
|
|
Mining rights payable – non-current (h) |
|
|
| 103,378 |
|
| 77,810 |
|
| 55,442 |
|
|
Total interest-bearing debt (i=e+f+g+h) |
|
|
| 861,876 |
|
| 1,116,908 |
|
| 2,002,372 |
|
|
Total shareholders’ equity (j) |
|
|
| 565,469 |
|
| 507,595 |
|
| 255,376 |
|
|
Total capital (k=i+j) |
|
|
| 1,427,345 |
|
| 1,624,503 |
|
| 2,257,748 |
|
|
Ratio of interest-bearing debt to total capital (l=i/k) |
|
|
| 60.38% |
|
| 68.75% |
|
| 88.69% |
|
|