Hong Kong Exchanges and Clearing Limited and the Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Xinjiang Xinxin Mining Industry Co., Ltd.*

新 疆 新 鑫 礦 業 股 份 有 限 公 司

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

(Stock code: 3833)

INSIDE INFORMATION

UPDATE IN RELATION TO SHAANXI XINXIN

This announcement is made by Xinjiang Xinxin Mining Industry Co., Ltd.* (the "Company") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Unless otherwise defined, terms undefined herein shall have the meanings ascribed to them in the announcements of the Company dated 11 January 2019, 17 January 2019 (together, the "January Announcements"), 21 February 2019, 22 February 2019 (together, the "February Announcements"), 25 June 2019 and/or 26 June 2019 (together, the "June Announcements").

Reference is made to the January Announcements in respect of four Court Judgments (the "Original Four Court Judgments") against, among others, Shaanxi Xinxin in relation to claims brought against Shaanxi Mingtai by Xi An Investment and the June Announcements in respect of the ruling of the Shaanxi Higher People's Court in relation to the Original Four Court Judgments.

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The Company has, on 25 December 2019, been notified that the Xi'an Intermediate People's Court has, in respect of the disputes of the guarantee obligations set out in the Original Four Court Judgements, handed down its re-trialfirst-instance judgments on

25 December 2019 (the "Re-trialFirst Instance Judgments"), under which the Xi'an Intermediate People's Court ruled that the conditional guarantee obligations under the Asset Disposal Entrustment Agreements are without legal effect vis-à-vis Shaanxi Xinxin. Accordingly, the Xi'an Intermediate People's Court ordered that the Original Four Court Judgements be amended to an extent that Shaanxi Xinxin is no longer a party to be jointly and severally liable for the Awarded Amounts pertaining to the disputes of the guarantee obligations set out in the Original Four Court Judgments. Any parties to the Re-trial First Instance Judgments can appeal against the decisions of the Xi'an Intermediate People's Court in relation to the Re-trial First Instance Judgments to the Higher People's Court of the Shaanxi Province of the People's Republic of China (the "Shaanxi Higher People's Court") within 15 days of the Re-trial First Instance Judgments.

As at the date of this announcement, the Company has yet to receive the ruling of the Shaanxi Higher People's Court in respect of the Claims.

As disclosed in Note (4)(21) to the financial statements of the Group for the years ended 31 December 2018, the Group already made a provision for the pending litigation in respect of the Xi An Investment's claim in the amount of approximately RMB161 million based on the estimate of the worst scenario made on 22 March 2019.

Further announcement(s) will be made by the Company to keep its shareholders and potential investors informed of any material development as and when appropriate.

By order of the Board

Xinjiang Xinxin Mining Industry Co., Ltd.*

Zhang Junjie, Lam Cheuk Fai

Joint Company Secretaries

Xinjiang, the PRC, 27 December 2019

As at the date of this announcement, the executive Directors are Mr. Guo Quan and Mr. Liu Jun; the non-executive Directors are Mr. Zhang Guohua, Mr. Zhou Chuanyou and Mr. Hu Chengye; and the independent non-executive Directors are Mr. Hu Benyuan, Mr. Wang Lijin and Mr. Wong Yik Chung John.

  • For identification purpose only

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Xinjiang Xinxin Mining Industry Co. Ltd. published this content on 29 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 December 2019 10:10:05 UTC