XD Inc. — Board/Management Information 2021

Jun 11, 2021

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.

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CHANGE OF SENIOR MANAGEMENT OF THE COMPANY AND

WAIVERS FROM STRICT COMPLIANCE WITH RULES 3.28 AND 8.17 OF THE LISTING RULES

CHANGE OF SENIOR MANAGEMENT

Chongqing Iron & Steel Company Limited (the “ Company ”) received a written resignation from Mr. Zhang Wenxue ( 張文學 ), the president, on 11 June 2021. Mr. Zhang Wenxue tendered his resignation to the board of directors of the Company to resign as the president due to work rearrangements. Mr. Zhang Wenxue has confirmed that he has no disagreement with the board of directors, the supervisory committee and the management of the Company and there are no other matters in relation to his resignation that need to be brought to the attention of the Company and its shareholders.

According to the requirements under the relevant laws, regulations and the Articles of Association, the resignation report of Mr. Zhang Wenxue takes effect on the date of its delivery to the board of directors of the Company. Mr. Zhang Wenxue will continue to hold the position as a director of the Company following his resignation as the president. During his term of office, Mr. Zhang Wenxue fulfilled his duties conscientiously and diligently. The board of directors hereby expresses its sincere gratitude to Mr. Zhang Wenxue for his contribution to the development of the Company during his term of office as the president.

On 11 June 2021, the Resolution in relation to the Appointment of Senior Management of the Company was considered and approved at the 39[th] meeting of the eighth session of the board of directors of the Company. The board of directors appointed Mr. Xie Zhixiong ( 謝志雄 ) as the president of the Company and Mr. Yao Xiaohu ( 姚小虎 ) as a senior vice president of the Company; and the board of directors appointed Mr. Zou An ( 鄒安 ) as the secretary to the board of directors and a joint company secretary of the Company.

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The biographies of Mr. Xie Zhixiong, Mr. Zou An and Mr. Yao Xiaohu are as follows:

Mr. Xie Zhixiong, born in April 1972, is a senior engineer. Mr. Xie successively served as the head of the technology department and the head of the production technology division of the sixth rolling mill, the head of the steel rolling division of the steelmaking and rolling mill and the steel rolling chief engineer, the deputy head of the special steel business department, the deputy head and deputy general manager of the product sales department of the marketing center, the deputy head and the head of the manufacturing and management department, the officer of the technical research center, a vice president, a senior vice president (presiding over the work), a director, the president and the deputy secretary to the Party Committee of SGIS Songshan Co., Ltd. ( 廣東韶鋼松山股份有限公司 ). Mr. Xie graduated from Central South University of Technology ( 中南工業大學 ) in 1993, majoring in metallic materials engineering.

Mr. Zou An, born in November 1974, is a senior accountant and currently serves as a director, senior vice president, chief financial officer and a member of the Party Committee of the Company. Mr. Zou successively served as the director of accounting and taxation of the finance department, director of budget management, senior manager of performance evaluation of Baosteel Group, the head of the operation and finance department, assistant to president (acting), vice president and head of the operation and finance department of Baosteel Development, and the deputy general manager of Baowu Group Environmental Resources Technology Co., Ltd. Mr. Zou graduated from the East China University of Metallurgy ( 華東冶金學院 ) in 1996, majoring in accounting, and then obtained a master’s degree in finance from Fudan University.

Mr. Yao Xiaohu, born in August 1966, is a senior engineer and is currently the vice president and head of the investment management department of the Company. Mr. Yao successively served as an assistant to the head and the deputy head of the coking plant, the deputy chief and chief of mechanics division, the chief of the equipment department, the head of the facility department, a director and the deputy general manager of the Company. Mr. Yao graduated from the School of Automation in Kunming University of Science and Technology in 1987, majoring in electrical automation in metallurgical industry, and then obtained a master’s degree in control engineering from the School of Automation in Chongqing University.

WAIVERS FROM STRICT COMPLIANCE WITH RULES 3.28 AND 8.17 OF THE LISTING RULES

Pursuant to Rule 8.17 of the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”), a listed issuer must appoint a company secretary who meets the requirements under Rule 3.28 of the Listing Rules. Rule 3.28 of the Listing Rules provides that a listed

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issuer must appoint as its company secretary an individual who, in the opinion of the Stock Exchange, is capable of discharging the functions of company secretary of the listed issuer by virtue of his/her academic or professional qualifications or relevant experience. Mr. Zou An currently does not possess the qualifications of a company secretary as required under Rules 3.28 and 8.17 of the Listing Rules.

In relation to the appointment of Mr. Zou An as a joint company secretary of the Company, the Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a waiver from strict compliance with the requirements under Rules 3.28 and 8.17 of the Listing Rules for a period of three years from the date of his appointment as a joint company secretary of the Company (the “ Waiver Period ”) on the grounds that Ms. Chiu Hoi Shan ( 趙凱珊 ) (“ Ms. Chiu ”), the other joint company secretary of the Company currently, possesses the relevant professional qualifications of company secretary required under Rules 3.28 and 8.17 of the Listing Rules, and will provide assistance to Mr. Zou An in discharging his duties as one of the joint company secretaries of the Company.

This waiver is granted on the conditions that (i) Mr. Zou An will be assisted by Ms. Chiu during the Waiver Period; (ii) the waiver can be revoked if there are material breaches of the Listing Rules by the Company. The Company shall notify the Stock Exchange at the end of the Waiver Period for the Stock Exchange to revisit the situation. The Stock Exchange expects that, after the end of the Waiver Period, the Company will be able to demonstrate to the Stock Exchange that Mr. Zou An can satisfy the requirements under Rule 3.28 of the Listing Rules after having the benefit of Ms. Chiu’s assistance such that a further waiver will not be necessary. The Company is obliged to disclose the details of the waiver, including its reasons for the waiver and the waiver conditions, by way of an announcement.

By order of the Board Chongqing Iron & Steel Company Limited Liu Jianrong Chairman

Chongqing, the PRC, 12 June 2021

As at the date of this announcement, the Directors of the Company are: Mr. Liu Jianrong (Executive Director), Mr. Zhang Wenxue (Executive Director), Mr. Tu Deling (Executive Director), Mr. Zou An (Executive Director), Mr. Song De An (Nonexecutive Director), Mr. Zhou Ping (Non-executive Director), Mr. Xin Qingquan (Independent Non-executive Director), Mr. Xu Yixiang (Independent Non-executive Director) and Mr. Wong Chunwa (Independent Non-executive Director).

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