Zhaojin Mining announced that its wholly-owned subsidiary, Zhaojin Survey, and Ruihai Mining signed a framework agreement for underground hydrogeology and water prevention and control technology services on August 23, 2024. The agreement will be effective from January 1, 2024, to December 31, 2026. Ruihai Mining is a related subsidiary of Zhaojin Mining, fully owned by another non-wholly-owned subsidiary of Zhaojin Mining, Shandong UBS Group. Shandong UBS Group holds a 70% stake in Zhaojin Mining, while Zijin Mining (through Zijin Investment) holds a 30% stake. According to the listing rules, the transactions under this agreement constitute ongoing related party transactions, but due to the highest applicable percentage limit ranging from 0.1% to 5% annually, the transaction only needs to comply with the declaration, annual review, and announcement requirements...Show More

Zhaojin Mining announced that its wholly-owned subsidiary, Zhaojin Survey, and Ruihai Mining signed a framework agreement for underground hydrogeology and water prevention and control technology services on August 23, 2024. The agreement will be effective from January 1, 2024, to December 31, 2026. Ruihai Mining is a related subsidiary of Zhaojin Mining, fully owned by another non-wholly-owned subsidiary of Zhaojin Mining, Shandong UBS Group. Shandong UBS Group holds a 70% stake in Zhaojin Mining, while Zijin Mining (through Zijin Investment) holds a 30% stake. According to the listing rules, the transactions under this agreement constitute ongoing related party transactions, but due to the highest applicable percentage limit ranging from 0.1% to 5% annually, the transaction only needs to comply with the declaration, annual review, and announcement requirements, and is exempt from compliance with circulars and independent shareholder approval requirements. Zhaojin Survey will provide services including the establishment of a mine area groundwater monitoring system, the preparation of hydrogeological special reports, etc. This will help improve the technical level and competitiveness of Zhaojin Survey, and bring economic benefits to the group.