XD Inc. — Capital/Financing Update 2020

Mar 19, 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 ISSUANCE RESULTS OF 2020 FIRST TRANCHE OF MEDIUM-TERM NOTES

On 21 May 2019, Chongqing Iron & Steel Company Limited (the “ Company ”) held the 2018 annual general meeting, at which the Resolution in Relation to Grant of General Mandate to the Board to Issue Debt Financing Instruments was considered and approved. The Company was approved to apply to the National Association of Financial Market Institutional Investors (the “ NAFMII ”) for new registration and issuance of debt financing instruments of non-financial enterprises in the inter-bank market (the “ Debt Financing Instruments ”), including but not limited to medium-term notes and short-term financing bonds, etc. For relevant details, please refer to the Announcement on Grant of General Mandate to the Board to Issue Debt Financing Instruments disclosed by the Company on 29 March 2019 and the Announcement of Resolutions Passed at the 2018 Annual General Meeting, 2019 First Class Meeting of A Shareholders and 2019 First Class Meeting of H Shareholders disclosed on 22 May 2019.

On 2 March 2020, the Company received the Notice of Acceptance of Registration (Zhong Shi Xie Zhu [2020] No. MTN106) issued by the NAFMII that the registration of the medium-term notes of the Company has been accepted. The registered amount is RMB1 billion and such registered amount will be effective for 2 years commencing from the date of issue of the notice. For details, please refer to the Announcement on the Acceptance of Registration of Medium-Term Notes disclosed by the Company on 3 March 2020.

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On 17 March 2020 and 18 March 2020, the Company issued the 2020 first tranche of medium-term notes with the issuance amount of RMB1 billion. All the proceeds have been received into account on 19 March 2020. The issuance results are as follows:

Name of the	Chongqing Iron & Steel Company Limited 2020	Chongqing Iron & Steel Company Limited 2020	first tranche of medium-
medium-term	term notes (Type 1)
notes	Chongqing Iron & Steel Company Limited 2020		first tranche of medium-
	term notes (Type 2)
Abbreviation of the	Type 1: 20 Chongqing Iron &	Code of the	Type 1: 102000390
medium-term	Steel MTN001A	medium-term	Type 2: 102000391
notes	Type 2: 20 Chongqing Iron &	notes
	Steel MTN001B
Term of the	Type 1 has a term of 2+1 years	Issuance	Type 1: RMB0.5
medium-term	(the issuer has an option to	amount	billion
notes	adjust the coupon rate and		Type 2: RMB0.5
	the investors have an option		billion
	to demand redemption of the
	bonds at the end of the second
	interest-bearing year of the
	duration)
	Type 2 has a term of 3 years
Date of initial	19 March 2020	Redemption	19 March 2023, if any
interest accrued		date	dividend distribution
			date falls on a statutory
			holiday or day off,
			it shall be postponed
			to the next working
			day and shall bear
			no interest for such
			postponement period
Issue price	Nominal value of RMB100,	Coupon rate	Type 1: 4.64%
	issued at par		Type 2: 5.13%
Bookrunner	Citic Securities Co., Ltd.
Lead underwriter	Citic Securities Co., Ltd.
Joint lead	China CITIC Bank Corporation	Limited
underwriter

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For documents relating to the issuance of the medium-term notes of the Company, please refer to the websites of China Money (www.chinamoney.com.cn) and Shanghai Clearing House (www.shclearing.com).

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

Chongqing, the PRC, 20 March 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 Nonexecutive Director) and Mr. Wong Chunwa (Independent Non-executive Director).

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