Hainan Mining scraps acquisition, internal review finds no insider trading

Hainan Mining Co., Ltd. announced the termination of its planned acquisition of 68.04% of ATZ Mining Limited and 51.52% of Felston Enterprises Limited, alongside a related capital raise. This decision, approved by the board on September 30, 2025, led to a self-inspection of insider trading from December 16, 2024, to September 30, 2025.

The self-inspection revealed four individuals, including company employees, directors' relatives, and a former employee, traded company shares during the period. All individuals stated their trades were based on public information and denied using inside information or engaging in market manipulation.

Additionally, the company's buyback account purchased shares within the period, in line with a plan disclosed on February 25, 2025, for an amount between 0.75 billion yuan and 1.5 billion yuan. Guotai Haitong Securities, an independent financial advisor, and its subsidiary also engaged in share trading, which was deemed normal market activity unrelated to the acquisition. The inspection concluded no insider trading violations occurred.