Jinzhou Jixiang Molybdenum Co., Ltd. announced a private placement to issue not more than 155,595,194 A shares for gross proceeds of not more than CNY 1,866,700,000 on July 22, 2022. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from 35 specific investors, including securities investment fund management companies, securities companies, trust companies, and financial companies that comply with laws, regulations and the provisions of the China Securities Regulatory Commission, insurance institutional investors, qualified foreign institutional investors and other institutional investors, natural persons.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the 8th meeting of the 5th board of directors of the company, 9th Meeting of the Company's 5th Directorate and subject to the approvals of the company's shareholders and China Securities Regulatory Commission. The shares are of par value, CNY 1 per share.

The resolutions for this transaction are valid for 12 months from the date when the resolutions related to this transaction are considered and approved at the general meeting of shareholders.