JiHai Resources Group Limited ('JiHai Resources') announced that, after careful consideration by the board of directors, it has decided to change the use of the net proceeds from global sales. The unused portion of the original net proceeds of approximately HKD 218.3 million is about HKD 193.4 million. The funds were originally intended to repay the loan from the Yantai Branch of Hua Xia Bank Co., Ltd., but due to the new regulations of the State Administration of Foreign Exchange, the application process has been extended, and the company has decided to use internal funds to repay the loan in advance. Therefore, the funds originally planned for repayment will be reallocated to expand the business through selective acquisition of golden minerals assets...Show More

JiHai Resources Group Limited ('JiHai Resources') announced that, after careful consideration by the board of directors, it has decided to change the use of the net proceeds from global sales. The unused portion of the original net proceeds of approximately HKD 218.3 million is about HKD 193.4 million. The funds were originally intended to repay the loan from the Yantai Branch of Hua Xia Bank Co., Ltd., but due to the new regulations of the State Administration of Foreign Exchange, the application process has been extended, and the company has decided to use internal funds to repay the loan in advance. Therefore, the funds originally planned for repayment will be reallocated to expand the business through selective acquisition of golden minerals assets, thereby increasing the amount to approximately HKD 147.6 million. JiHai Resources expects to utilize all unused net proceeds before December 31, 2025. The board of directors believes that this change will help the company allocate financial resources more effectively and improve long-term business performance, in line with the overall best interests of the group and the shareholders.