AC Precious Metal Refinery Limited


AC Precious Metal Refinery Limited (“ACPMR”), a wholly owned subsidiary of New Times Energy Corporation Limited (HKSE: 0166), specializes in refining precious metals. Established in 2021, our primary focus is delivering high-quality precious metal products and exceptional services to our valued clients. It is jointly operated with Cheung’s Gold Traders Limited (“CGTL”), an established and reputable intermediary in the industry, with a long history and presence in Hong Kong.

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Physical Gold & Silver trading

In 2023, the Group’s physical gold and silver refinery and trading business experienced substantial trade volumes:

Physical Precious Metals Trading
Annual Trading VolumeHK$25,616.9 million
Segment ProfitHK$21.8 million

This improvement was attributed to high gold prices and a favorable bid/ask spread, contributing to the Group’s robust financial performance compared to the previous year.

Gold and Precious Metal Refinery

In October 2023, the Group completed the construction and commenced trial runs of its new 10,000 square foot refinery plant for precious metals.

Upon full commercial operation:

  • The Group’s new refinery will have the capacity to process approximately fifty tonnes of 99.9% gold per annum.
  • CGTL will be responsible for the day-to-day operation of the new refinery plant with working capital and financing provided by ACPMR.
  • The Group’s total investment to date on this venture is approximately HK$27 million.


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