Longbai Group: Longbai Sichuan Mining and Metallurgical Co., Ltd., a wholly-owned subsidiary, plans to use its own funds to increase its wholly-owned subsidiary Panzhihua Zhenxing Mining Co., Ltd. by RMB 900 million

Longbai Group (SZ 002601) announced that in accordance with the company's development strategy and operating needs, in order to further enhance the financial strength and operating capabilities of its subsidiaries, Longbai Sichuan Mining and Metallurgical Co., Ltd., a wholly-owned subsidiary of the company, plans to use its own funds to revitalize its wholly-owned subsidiary Panzhihua Mining Co., Ltd. Co., Ltd. increased its capital by RMB 900 million, and the capital increase price is 1 yuan/share. Zhenxing Mining, a subsidiary of the company, plans to use its own funds to increase its wholly-owned subsidiary Panzhihua Fengyuan Mining Co., Ltd. by approximately RMB 900 million, at a capital increase price of 1 yuan/share. After the completion of this capital increase, the registered capital of Zhenxing Mining changed from RMB 2.301 billion to RMB 3.201 billion, and the registered capital of Fengyuan Mining changed from approximately RMB 212 million to RMB 1.112 billion.