Zhaojin Mining renews gold concentrate agreements with controlling shareholder

Zhaojin Mining Industry Company Limited entered into new Gold Concentrates Sales Framework Agreement and Gold Concentrates Purchase Framework Agreement with Shandong Zhaojin and its subsidiaries on October 10, 2025. These agreements, effective from October 10, 2025, to December 31, 2027, renew existing arrangements for continuing connected transactions.

Under the new Sales Framework Agreement, Zhaojin Mining expects annual caps of RMB180 million for the period ending December 31, 2025, RMB410 million for 2026, and RMB480 million for 2027. Historical sales were RMB0 in 2023, RMB136.83 million in 2024, and RMB138.24 million for the eight months ending August 31, 2025. For the Purchase Framework Agreement, annual caps are set at RMB480 million for each period: October 10, 2025, to December 31, 2025, and the years ending December 31, 2026, and 2027. Historical purchases were RMB3.93 million in 2023, RMB0 in 2024, and RMB0 for the eight months ending August 31, 2025.

These transactions are subject to reporting, annual review, and announcement requirements under Chapter 14A of the Listing Rules, as Shandong Zhaojin is the controlling shareholder. The pricing for both agreements will reference market prices, considering factors like quality, grade, and recovery rate.