Zijin Mining begins first share option exercise period for 2023 scheme

Zijin Mining Group Co., Ltd. has commenced the first exercise period of its 2023 Share Option Incentive Scheme, allowing 12 participants to exercise a total of 13.10 million share options. The exercise price, after adjustments for profit distributions, is RMB11.15 per A Share. The shares underlying these options will be newly issued A Shares of the company, with the exercise period running from 8 December 2025 to 7 December 2026.

The board and supervisory committee approved the satisfaction of the exercise conditions on 17 October 2025. These conditions included no adverse auditor reports, proper profit distribution, and achievement of performance appraisal targets for 2024, such as operating income growth of 12% and a return on net assets ratio of 26%, both exceeding the industry average. The debt-to-asset ratio was 55%, within the stipulated 65% limit, and all 12 participants achieved a grade B or above in their performance appraisals.

As of the announcement date, 2.70 million granted share options held by one participant have been cancelled. The current exercise represents 33.33% of the total share options granted to the exercising participants. The company will recognize share-based payment costs throughout the scheme's implementation, consistent with accounting standards.