Yuguang Gold & Lead announces shareholder transfer, name change, and subsidiary guarantee

Henan Yuguang Gold & Lead Co., Ltd. (Yuguang Gold & Lead) announced on September 24, 2025, the gratuitous transfer of 100% equity in its direct controlling shareholder, Henan Yuguang Gold & Lead Group Co., Ltd. (Yuguang Group), from Jiyuan Capital Operation Group Co., Ltd. to Jiyuan City Integrated Urban-Rural Demonstration Zone State-owned Assets Supervision and Administration Bureau (Jiyuan SASAC). This transfer means Capital Operation Group will no longer hold equity in Yuguang Group or indirectly in Yuguang Gold & Lead. Concurrently, Yuguang Group will be renamed "Henan Yuguang Group Co., Ltd." Yuguang Gold & Lead's controlling shareholder remains Yuguang Group, and its ultimate controller remains Jiyuan SASAC, with no change in actual control.

Prior to the transfer, Capital Operation Group indirectly held 322,799,737 shares of Yuguang Gold & Lead, representing 29.61% of total shares. The gratuitous transfer is part of an adjustment to the ownership structure of state-owned enterprises in Jiyuan City and does not involve a tender offer. 91,000,000 shares (8.35% of total shares) indirectly held by Capital Operation Group in Yuguang Gold & Lead were pledged.

Separately, Yuguang Gold & Lead announced it is providing a guarantee of CNY 60,000,000 for its wholly-owned subsidiary, Shanghai Yuguang Gold & Lead International Trade Co., Ltd., for a domestic letter of credit. As of the disclosure date, the cumulative actual guarantee balance provided to Shanghai Yuguang Gold & Lead International Trade Co., Ltd. is CNY 282,495,000 (excluding this new guarantee). Total approved guarantees for wholly-owned subsidiaries amount to CNY 800,000,000.