CITIC Resources Holdings Limited, an investment holding company incorporated in Bermuda in 1997 and headquartered in Kowloon, Hong Kong, engages in the exploration, development, and production of oil and coal; investments in bauxite mining, alumina refining, and aluminum smelting; and the import and export of commodities across Mainland China, Australia, Kazakhstan, Indonesia, and other regions. The company operates in four principal segments: Aluminum Smelting, through a 22.5% interest in the Portland aluminum smelter in Australia that produces aluminum ingots and a 3.03% equity stake in Alcoa Corporation as of July 2024 covering bauxite mining, alumina refining, and aluminum production; Coal, via a 14% participating interest in the Coppabella and Moorvale mines in Australia producing low volatile pulverized coal injection coal; Crude Oil, encompassing operations in the KBM oilfield in Kazakhstan (50% interest), Yuedong oilfield in China (90% interest), and Seram Block in Indonesia (41% interest), with total crude oil output reaching approximately 17.65 million barrels in 2024, up 3.2% from 2023; and Import and Export of Commodities, involving the trading of various bulk products, oil, and gas with a target annual trading volume of 10 million barrels. CITIC Limited holds approximately 59.5% ownership as the largest shareholder. In 2024, the company advanced production efficiency across its oilfields, including exploration at KBM to boost reserves, reserve upgrades at Yuedong's Hainan-20 well block, cost reductions and technological applications at Seram Block to extend its lifespan, and the smooth commencement of a production capacity expansion project for the CASPI BITUM asphalt plant at KBM; it pursues a dual-driven growth strategy emphasizing investment and trading expansion, upstream aluminum investments, new energy sector opportunities, and leveraging China's Belt and Road initiative for international markets.