Western Mining completes shareholding increase

Western Mining has announced the completion of a shareholding increase plan by Western Mining Group Co., Ltd. (the "Western Mining Group") and its concerted party, Qinghai Xikuang Asset Management Co., Ltd. ("Xikuang Asset Management"). The plan, initially disclosed in October 2024, saw Xikuang Asset Management acquire an additional 41,202,033 shares, representing 1.729% of the company's total share capital, through the Shanghai Stock Exchange's trading system. The total increase value was $67,933,910.00. The funds were sourced from Xikuang Asset Management’s own resources and dedicated loans, with the goal of bolstering investor confidence and promoting sustainable growth, according to the filing. As a result, Western Mining Group and Xikuang Asset Management collectively hold 759,982,288 shares, raising their total ownership to 31.89%. Qinghai Shuren Law Firm conducted a special review, confirming that the plan met all regulatory requirements.