Xinjiang Xinxin Mining Industry : ANNOUNCEMENT - RESIGNATION OF SUPERVISORS

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Xinjiang Xinxin Mining Industry Co., Ltd.*

อᖛอ㒥ᘤٰุ΅Ϟࠢʮ̡

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 3833)

ANNOUNCEMENT

RESIGNATION OF SUPERVISORS

The board (the "Board") of directors of Xinjiang Xinxin Mining Industry Co., Ltd. (the "Company") announces that on 26 March 2021, both Mr. Meng Guangzhi and Mr. Li Jiangping have tendered their resignations as the employees' representative supervisors of the Company with effect from 30 March 2021.

Mr. Meng Guangzhi and Mr. Li Jiangping have made tremendous contributions in resuming a supervisory role in the Company and/or its subsidiaries for years. In order to acknowledge the contributions of Mr. Meng Guangzhi and Mr. Li Jiangping and to provide incentive for them to enhance the development of the Company, the Company would like to grant the H share appreciation rights to Mr. Meng Guangzhi and Mr. Li Jiangping in the event that the H share appreciation rights incentive plan (the "Plan") is duly adopted and approved and subject to the satisfaction of the conditions under the Plan, the details of which are set out in the announcement of the Company dated 26 March 2021. As no H share appreciation rights could be granted to supervisors of the Company pursuant to the Plan, in anticipation of being a potential grantee under the Plan, on 26 March 2021, Mr. Meng Guangzhi and Mr. Li Jiangping have tendered their resignations as the employees' representative supervisors of the Company with effect from 30 March 2021.

According to the articles of association of the Company (the "Articles"), the Company shall have two employees' representative supervisors. If a supervisor has resigned during the term of office, as a result of which the number of the members of the supervisory committee falls below the quorum, the former supervisor shall perform his duties as a supervisor, prior to the accession of the newly elected supervisor, in accordance with the laws, administrative regulations and the provisions of the Articles.

Given that Mr. Meng Guangzhi and Mr. Li Jianping are the only two employees' representative supervisors of the Company, in accordance with the provisions of the Articles, their resignation shall become effective upon the election of new employees' representative supervisors by the employees' representative meeting of the Company.

The Board is pleased to announce that an employees' representative meeting is scheduled to be held on 30 March 2021, during which two new employees' representative supervisors will be elected to take up the roles of Mr. Meng Guangzhi and Mr. Li Jiangping. The Company will publish an announcement in relation to the appointment of the employees' representative supervisors after the employees' representative meeting.

Both Mr. Meng Guangzhi and Mr. Li Jiangping have confirmed that they have no disagreement with the Board, nor is there any matter in relation to their resignations that should be brought to the attention of the shareholders of the Company.

By Order of the Board

Xinjiang Xinxin Mining Industry Co., Ltd.*

Li Zhen Zhen, Lam Cheuk Fai

Joint Company Secretaries

Xinjiang, the PRC, 26 March 2021

As at the date of this announcement, the executive Director is Mr. Qi Xinhui; the non-executive Directors are Mr. Zhang Guohua, Mr. Zhou Chuanyou, Mr. Guo Quan and Mr. Hu Chengye; and the independent non-executive Directors are Mr. Hu Benyuan, Mr. Wang Qingming and Mr. Lee Tao Wai.

* For identification purpose only