November 3, Hainan Mining disclosure of share repurchase report, intends to 150 million yuan -300 million yuan to repurchase the company's shares, for the implementation of equity incentives or employee shareholding plan, the repurchase price limit of 9.71 yuan/share, 48.02% higher than the closing price on the same day.

This is the first time Hainan Mining has implemented share repurchase since its listing in 2014. The repurchase period for the board of directors to consider and approve the repurchase program within 12 months from the date of the repurchase program, is expected to repurchase the number of 15,511,900 shares -31,023,800 shares, accounting for the company's total share capital ratio of 0.76% - 1.52%.

The repurchased shares are intended to be used for the company's later implementation of the employee stock ownership plan or equity incentives, the repurchased shares, if they are not used for the above purposes within 3 years after the completion of the repurchase, the unused repurchased shares will be canceled in accordance with the provisions of relevant laws and regulations.

The source of funds for this repurchase is Hainan Mining's own or self-financed funds. As of the end of September 2023, Hainan Mining's total assets amounted to RMB 11.534 billion, net assets attributable to shareholders of listed companies amounted to RMB 6.665 billion, and current assets amounted to RMB 5.606 billion.