XD Inc. — Board/Management Information 2022

Nov 21, 2022

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.

==> picture [399 x 63] intentionally omitted <==

ANNOUNCEMENT ON THE ELECTION OF CHAIRMAN, BY-ELECTION OF DIRECTOR AND APPOINTMENT OF PRESIDENT

The nineteenth meeting of the ninth session of the board of directors (the “ Board ”) of Chongqing Iron & Steel Company Limited (the “ Company ”) was held on 21 November 2022 by way of written resolutions, in which the Resolution in relation to the Election of Mr. Xie Zhixiong as the Chairman, the Resolution in relation to the Appointment of Mr. Meng Wenwang as the President and the Resolution in relation to the By-election of Mr. Meng Wenwang as a Director of the Ninth Session of the Board and other matters were considered and approved.

The Board of the Company elected Mr. Xie Zhixiong as the chairman of the ninth session of the Board of the Company with a term same as the ninth session of the Board, appointed Mr. Meng Wenwang as the president of the Company, and by-elected Mr. Meng Wenwang as a director of the ninth session of the Board with a term same as the ninth session of the Board. The matter shall be submitted to the general meeting of the Company for consideration. The biographical details of Mr. Xie Zhixiong and Mr. Meng Wenwang are as follows:

Mr. Xie Zhixiong, born in April 1972, is a senior engineer, and currently serves as a director and the secretary to the party committee of the Company. 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 and the steel rolling chief engineer of the steelmaking and rolling mill, 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, the vice president, the senior vice president (presiding over the work), the 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 ), and the president and deputy secretary to the party committee of the Company. Mr. Xie graduated from Central South University of Technology ( 中南工業大學 ) in 1993, majoring in metallic materials engineering.

– 1 –

Mr. Meng Wenwang, born in October 1973, is a senior engineer, and currently serves as the deputy secretary to the party committee of the Company. Mr. Meng successively served as the assistant to the head of the hot pressing plant and the officer of the production technology division under Baoshan Iron & Steel Co.,Ltd. (“ Baosteel ”) ( 寶 山鋼鐵股份有限公司 ); deputy chief of the thick plate department, the officer of the production technology division and the secretary of the party branch of Baosteel; secretary of the party committee and the head of the thick plate plant of Baosteel, and the chief of the thick plate division of Baosteel; the deputy secretary to the party committee, secretary of the disciplinary committee, chairman of the labor union and senior vice president of the Company. Mr. Meng graduated from Chongqing University in 1996 with a degree in Metallurgy and Materials Engineering majoring in metal pressure processing, and obtained a master’s degree in business administration from Northeastern University in 2006.

Save as disclosed above, Mr. Meng Wenwang has not held any directorship in public companies (the securities of which are listed on any securities market in Hong Kong or overseas) or taken up a position in any affiliated companies of the Company over the past three years, nor does he have any relationship with any other directors, senior management, substantial or controlling shareholders of the Company.

Mr. Meng Wenwang will not receive remuneration for his directorship, but will receive remuneration according to his positions and job duties in the Company, and his annual remuneration is comprised of base salary, performance remuneration and subsidies and allowances, details of which are as follows:

1. Base salary: RMB600,000-800,000 per year (before tax).

2. Performance remuneration: The performance remuneration is not fixed, which is determined on the basis of the completion of annual performance indicators and other factors.

3. Subsidies and allowances: The subsidies and allowances are implemented in accordance with the relevant system of the Company.

The corresponding service contract will be entered into between Mr. Meng Wenwang and the Company upon the approval at the extraordinary general meeting. All relevant remunerations stated above will be included in his service contract.

No other information relating to the appointment of Mr. Meng Wenwang is required to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Main Board of The Stock Exchange of Hong Kong Limited. Save as disclosed herein, there is no other matter that need to be brought to the attention of the shareholders of the Company.

– 2 –

Save as disclosed above, as at the date of this announcement, Mr. Meng Wenwang does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

By order of the Board Chongqing Iron & Steel Company Limited Zou An Secretary to the Board

Chongqing, the PRC, 22 November 2022

As at the date of this announcement, the Directors of the Company are: Mr. Xie Zhixiong (Executive Director), Mr. Zou An (Executive Director), Mr. Song De An (Non-executive Director), Mr. Lai Xiaomin (Non-executive Director), Mr. Zhou Ping (Non-executive Director), Mr. Sheng Xuejun (Independent Non-executive Director), Mr. Zhang Jinruo (Independent Non-executive Director) and Mr. Guo Jiebin (Independent Non-executive Director).

– 3 –