Hainan Mining continues progress on ATZ and Felston acquisitions

Hainan Mining Co., Ltd. is proceeding with the acquisition of 47.63% equity in ATZ Mining Limited and 36.06% equity in Felston Enterprises Limited through share issuance. Additionally, the company's overseas wholly-owned subsidiary will acquire an additional 20.41% equity in ATZ Mining and 15.46% equity in Felston via a cash payment. This will result in a combined acquisition of 68.04% equity in ATZ Mining and 51.52% equity in Felston. Hainan Mining also plans to issue shares to no more than 35 specific investors to raise supporting funds.

The transaction, which constitutes a connected transaction but not a major asset restructuring, will not change the company's actual controller.

As of September 12, 2025, the internal integration of ATZ Mining, Felston, and their related assets has been completed. Due diligence, auditing, and valuation work are ongoing, and the company will convene another board meeting to review the transaction once these processes are finished. The transaction remains subject to multiple approvals, including board and shareholder approval, Shanghai Stock Exchange review, and China Securities Regulatory Commission registration.