XD Inc. — Capital/Financing Update 2020

Jul 8, 2020

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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ANNOUNCEMENT ON THE ACCEPTANCE OF REGISTRATION OF MEDIUM-TERM NOTES

On 16 June 2020, Chongqing Iron & Steel Company Limited (the “ Company ”) held the 2019 annual general meeting, at which the Proposal for the Issuance of Medium-Term Notes by the Company was considered and approved. The Company was approved to apply to the National Association of Financial Market Institutional Investors (the “ NAFMII ”) and relevant competent regulatory authorities for new registration and issuance of the medium-term notes. On the same day, the Company held the 23rd meeting of the eighth session of the board of directors (the “ Board ”), at which the Proposal for the Application for the Issuance of Medium-Term Notes and the Grant of Mandate to the Management by the Board to Handle Matters in Relation to the Issuance of Medium-Term Notes was considered and approved. According to the mandate obtained at the general meeting of the Company, the Board authorized the management to determine matters including the issue size, specific terms and conditions of medium-term notes of the Company, subject to a maximum amount of not exceeding RMB2 billion and within 24 months from the date of the approval of the proposal at the general meeting. For relevant details, please refer to the Announcement on Issuance of Medium-Term Notes by the Company disclosed by the Company on 23 May 2020 and the Announcement of Resolutions Passed at the 2019 Annual General Meeting disclosed on 17 June 2020.

The Company has recently received the Notice of Acceptance of Registration (Zhong Shi Xie Zhu [2020] No. MTN736) issued by the NAFMII that the registration of the medium-term notes of the Company has been accepted. Details of the matters relating to the approval of registration of the medium-term notes are announced as follows:

1. The Company may issue medium-term notes in the registered amount of RMB2 billion and such registered amount will be effective for 2 years commencing from the date of issue of the notice. The joint lead underwriters are CITIC Securities Co., Ltd. and China Citic Bank Corporation Limited.

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1. The Company may issue medium-term notes in tranches within the effective period of the registration, and shall file with NAFMII which is required to be filed before making any issuance after the registration. Upon completion of the issuance, the results of issuance shall be disclosed through channels recognized by the NAFMII.

The Company will duly complete the issuance, redemption and information disclosure work relating to the medium-term notes pursuant to the abovementioned notice requirements and in accordance with the provisions of the Guidelines on Regulating of Issuance of Debt Financing Instruments of Non-financial Enterprises(《非金融企業 債務融資工具發行規範指引》), the Working Regulations of Book Building and Filing and Issuance of Debt Financing Instruments of Non-financial Enterprises (《非 金融企業債務融資工具簿記建檔發行工作規程》), the Rules of Registration and Issuance of Debt Financing Instruments of Non-financial Enterprises(《非金融企 業債務融資工具註冊發行規則》), the Working Rules of the Public Issuance and Registration of Debt Financing Instruments of Non-financial Enterprises (《非金融企 業債務融資工具公開發行註冊工作規則》) and Rules of Disclosure for Debt Financing Instruments of Non-financial Enterprises (《非金融企業債務融資工具 資訊披露規則》) and other relevant rules, guidance and regulations.

By order of the Board Chongqing Iron & Steel Company Limited Meng Xiangyun Secretary to the Board

Chongqing, the PRC, 9 July 2020

As at the date of this announcement, the Directors of the Company are: Mr. Zhou Zhuping (Non-executive Director), Mr. Song De An (Non-executive Director), Mr. Zhang Shuogong (Non-executive Director), Mr. Li Yongxiang (Executive Director), Mr. Tu Deling (Executive Director), Mr. Wang Li (Executive Director), Mr. Xu Yixiang (Independent Non-executive Director), Mr. Xin Qingquan (Independent Non-executive Director) and Mr. Wong Chunwa (Independent Non-executive Director).

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