Tranche Update on Chongyi Zhangyuan Tungsten Co., Ltd.'s Equity Buyback Plan announced on February 6, 2020.

From February 6, 2020 to March 31, 2020, the company has repurchased 2,711,400 shares, representing 0.29% for CNY 12.43 million. With this, the company has completed the repurchase of 2,711,400 shares, representing 0.29% for CNY 12.43 million under the buyback announced on February 6, 2020.