Xinjiang Xinxin Mining clarifies acquisition compensation terms

Xinjiang Xinxin Mining Industry Co., Ltd. (HKEX: 3833) has issued a clarification announcement regarding the major transaction and connected transaction related to its acquisition of a 51% equity interest in Xinjiang Huaou Mining Co., Ltd. The clarification addresses the formula for calculating compensation payable by Shanghai Xingqiang to Xinjiang Non-ferrous if the audited actual aggregated net profit of the Target Company for the Profit Compensation Period is less than the Guaranteed Profit and the formula for calculating the compensation payable if the audited asset impairment of the Target Company as at the end of the Profit Compensation Period is more than C1. The updated formulas are provided in the announcement. The company reiterated its incorporation date of 7 December 2007.