Hainan Mining Co., Ltd. Progress Announcement on Providing Guarantees to Subsidiaries

Security Code: 601969 Security Name: Hainan Mining Announcement No.: 2026-032

Hainan Mining Co., Ltd.

Progress Announcement on Guarantee Provided to Subsidiaries

The board of directors of the Company and all directors hereby guarantee that there are no false records, misleading statements or material omissions in the contents of this announcement, and assume legal responsibility for the truthfulness, accuracy and completeness of the contents.

Key Matters:

● Guaranteed Party and Basic Information

■

● Cumulative Guarantee Situation

■

Note: In this table, the total guarantee amount includes both the unutilized portion within the approved guarantee limits and the outstanding balance of guarantees that have actually been incurred.

I. Overview of the Guarantee Situation

(I) Basic Information of the Guarantee

To meet the needs of Hainan Mining Co., Ltd. (hereinafter referred to as the “Company”) for the day-to-day operations and business development of its controlling subsidiary Star Sea New Materials, the Company intends to provide a joint liability guarantee for Star Sea New Materials for the working capital loan applied for from Hainan Rural Commercial Bank Co., Ltd., with a guarantee amount not exceeding RMB 1,000 million. The guarantee period shall be three years from the date the term for performance of the debts under the principal contract expires, i.e., three years from the date the term for performance of the debts under each specific business contract expires as agreed under the relevant specific business contract by Star Sea New Materials. The guarantee period under each specific business contract shall be calculated separately. There is no counter-guarantee for this guarantee.

(II) Internal Decision-Making Procedures

The third meeting of the sixth session of the board of directors and the first extraordinary general meeting of 2026, respectively, approved the resolution “Proposal to Seek Authorization from the Shareholders’ Meeting to Provide Guarantees for Subsidiaries for 2026.” Within 12 months from the date the resolution is approved by the shareholders’ meeting, the Company plans to provide a guarantee amount for Star Sea New Materials not exceeding RMB 1.6 billion. For details, please refer to the Company’s announcement on the website of the Shanghai Stock Exchange, 《Hainan Mining Co., Ltd. Announcement on Guarantee Amounts for Subsidiaries for 2026》 (Announcement No.: 2025-146).

The guarantee amount for this transaction is within the estimated limit; therefore, no further meeting of the board of directors or the shareholders’ meeting is required for deliberation.

II. Basic Information of the Guaranteed Party

(I) Basic Information

■

(II) Information on Dishonesty by the Guaranteed Party

Star Sea New Materials is not a defaulter subject to enforcement for dishonest conduct.

III. Main Contents of the Guarantee Agreement

1、Name of the guarantor: Hainan Mining Co., Ltd.

2、Name of the creditor: Hainan Rural Commercial Bank Co., Ltd.

3、Name of the debtor: Hainan Star Sea New Materials Co., Ltd.

4、Highest principal balance of the guaranteed creditor’s rights: RMB 1,000 million

5、Guaranteed contract: the working capital loan contract signed by Star Sea New Materials and Hainan Rural Commercial Bank Co., Ltd., with contract number 【Hainan Nongshang Bank Head Office Business Department 2026 Working Capital Loan Character No. 032】 (hereinafter referred to as the “principal contract”).

6、Guarantee type: joint liability guarantee

7、Guarantee period: three years from the date the term for performance of the debts under the principal contract expires, i.e., three years from the date the term for performance of the debts under the relevant specific business contract expires as agreed by the debtor under the specific business contract. The guarantee period for each specific business contract shall be calculated separately.

8、Guarantee scope: the scope of the guarantee under this guarantee contract includes the principal amount of the main creditor’s rights under the principal contract, interest, penalty interest, compound interest, liquidated damages, compensation, and the expenses for realizing the creditor’s rights (including but not limited to litigation fees, arbitration fees, property preservation fees, appraisal fees, lawyer fees, travel expenses, case investigation fees, execution fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees, and all other fees), as well as the interest on the debts during the period of delayed performance to be paid additionally, and all other payable expenses.

9、Is there a counter-guarantee: No

IV. Necessity and Reasonableness of the Guarantee

The Company provides the guarantee this time for its controlling subsidiary Star Sea New Materials. The purpose is to improve the Company’s overall financing efficiency and to meet the funding needs of Star Sea New Materials for day-to-day operations and business development. Star Sea New Materials’ production and operations are stable, and there has been no guarantee overdue. There is no circumstance that would harm the Company or the interests of its shareholders.

V. Number of Cumulative External Guarantees and Number of Overdue Guarantees

As of the date of disclosure of this announcement, the total amount of external guarantees provided by the Company and its subsidiaries is RMB 580,000 million in equivalent terms (including the unutilized portion within approved guarantee limits and the balance of guarantees actually incurred), accounting for 84.07% of the Company’s net assets audited as of the most recent period; the actual balance of external guarantees provided by the Company and its subsidiaries is RMB 201,509 million, accounting for 29.21% of the Company’s net assets audited as of the most recent period. All of the above external guarantees are guarantees provided by the Company to its wholly owned subsidiaries or controlling subsidiaries.

As of the date of disclosure of this announcement, the Company has no overdue guarantees.

Announcement is hereby given.

Board of Directors of Hainan Mining Co., Ltd.

April 1, 2026

Endless information, precise interpretation—exclusively on Sina Finance APP