Sinoref Holdings Limited provided group earnings guidance for the six months ending June 30, 2013. The board of directors of the company is expected that the revenue and financial performance of the group for the six months ending June 30, 2013 are expected to decrease as compared to that for
the six months ended June 30, 2012. The sustained deterioration of the global market condition, overcapacity and the volatility of iron ore prices have brought enormous pressure and challenges for the production and operations of steel manufacturers. The group's business operations inevitably have also been impacted. As a result, the group's revenue and financial performance are adversely affected.