Core Viewpoint - The company proposes a non-underwritten rights issue based on a "2 for 1" basis to raise up to approximately HKD 326 million, with a subscription price of HKD 0.51 per share, representing a discount of about 16.39% from the last trading price of HKD 0.610 per share [1] Financial Summary - The maximum number of shares to be issued is approximately 639 million [1] - The estimated net proceeds from the rights issue are approximately HKD 324 million [1] - Allocation of proceeds: 68% for full repayment of loans payable to MIC, 22% for K&S mining operations, and 10% for general working capital [1]

Group 1 - The company proposes a non-underwritten basis for a rights issue, offering one share for every two existing shares held at a subscription price of HKD 0.51 per share [1] - The maximum number of shares to be issued is 638,974,294, aiming to raise approximately HKD 326 million before expenses [1] - The rights issue is only available to qualifying shareholders and will not be offered to ineligible shareholders [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本 公 告 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 證 券 的 邀 請 或 要 約。 （於 香 港 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1029） (I)建議按非全數包銷基準 按於記錄日期每持有2股現有股份 供1股 供 股 股 份 的 基 準 進 行 供 股；及 (II)有關包銷協議的關連交易 第一上海證券有限公司 供股包銷商 Axioma Capital FZE LLC 獨立董事委員會及獨立股東的獨立財務顧問 寶積資本有限公司 建議供股 本 公 司 建 議 按 非 全 數 包 銷 基 準，按 於 記 錄 日 期 每 持 有 兩（2）股現有股份供一 （1）股 供 股 股 份 的 基 準，以 認 購 價 每 股 供 股 股 份0.51港元向合資格股東發行 最 多638,974,294股供股股份（假 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年9月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 鐵江現貨有限公司 | | | 呈交日期: | 2025年10月2日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01029 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,277,948,588 | | 0 | | 1,277,948,588 | | 增加 / 減少 ...

Core Viewpoint - The company is expected to report an increased net loss attributable to shareholders for the first half of 2019, despite overall operational performance meeting expectations and higher EBITDA from K&S compared to the same period last year [1][2]. Financial Performance - The company anticipates a net loss of approximately $11 million related to unamortized borrowing costs associated with a loan from the Industrial and Commercial Bank of China, which will be fully written off in the first half of 2019 [2]. - The average production capacity for Q2 2019 was about 88%, with June's capacity reaching 93%, marking a monthly production record [2][6]. - The company has benefited from rising iron ore prices, with futures contracts increasing by over 80% since the beginning of the year due to supply constraints from major producers [3][7]. Operational Insights - The company operates three iron ore mines in Russia: KURANAKH, GARINSKOYS, and K&S, with K&S being the most economically viable due to its geographical advantages [4][6]. - K&S has been in commercial production since early 2019, achieving an average capacity of 70% in 2018 and reaching 93% in June 2019 [6][7]. - The completion of the Amur River Bridge is expected to reduce transportation costs by up to $5 per ton, further enhancing profitability [7]. Market Context - The Russian ruble has appreciated against the US dollar, increasing foreign exchange costs for the company, which primarily settles transactions in USD [2]. - Despite the challenges, the company is positioned to benefit from a favorable iron ore pricing environment, with expectations of sustained high prices due to tight international supply [7].

Group 1 - The A-share market saw significant gains with Linggang Co., Ltd. rising by 6.52% and Jinling Mining increasing by 5.62% [1] Group 2 - Dalian Commodity Exchange's iron ore futures for the near-month contract broke the historical threshold of 1000 yuan/ton, reaching a peak of 1000.5 yuan/ton [2] - The exchange implemented measures to cool down the iron ore futures market, limiting non-futures company members or clients to a maximum daily opening position of 5000 lots for the I2105 contract starting December 14 [2] - This marks the fourth intervention by the exchange in the past seven days, reflecting the regulatory body's commitment to the stable development of the commodity [2] - According to Yong'an Futures' research report, the recent alleviation of supply pressures and stable demand, coupled with steel mills' need to replenish stocks at year-end, have contributed to the upward price movement of iron ore [2]

(Incorporated in Hong Kong with limited liability) （於 香 港 註 冊 成 立 的 有 限 公 司） (Stock Code 股 份 代 號：1029) NOTIFICATION LETTER 通 知 信 函 Dear Non-registered Shareholder(Note 1) , 26 September 2025 The following document(s) of IRC Limited ("Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.ircgroup.com.hk and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively "Websites"):- • Interim Report 2025 (If you have previously requested ...

Production and Sales Performance - For the first half of 2025, the company reported a production volume of 1,422,870 tons, an increase of 25.7% compared to the same period last year[10] - Sales volume surged by 26.9% to 1,419,367 tons during the same period[10] - Iron ore production increased by 25.7% to 1,422,870 tons for the six months ended June 30, 2025, compared to 1,132,201 tons in the same period of 2024[20] - Sales volume rose by 26.9% to 1,419,367 tons for the six months ended June 30, 2025, up from 1,118,750 tons in the prior year[20] - The commercial concentrate production reached 1,422,870 tons, an increase of 26% compared to the previous year, due to improved recovery rates and higher ore grades[81] Financial Performance - EBITDA improved to $6.7 million, compared to a loss of $1.7 million in the same period last year[13] - Total revenue increased by 9.3% to $122.8 million for the six months ended June 30, 2025, compared to $112.3 million in the prior year[20] - The company recorded a significant increase in net loss attributable to shareholders, which rose by 670.2% to $101.97 million for the six months ended June 30, 2025, compared to $13.24 million in the same period of 2024[20] - The company reported a net loss of $102.0 million, which included significant non-cash items[14] - The company reported a pre-tax loss of $103,478 thousand, significantly higher than the pre-tax loss of $13,054 thousand in the same period last year[117] Cost Management - The average price of iron ore (65% Fe) decreased by 13.9% year-on-year due to a weakened demand from China and oversupply in the market[12] - Cash costs (including transport to customers) decreased by 20.5% to $77.4 per wet ton, compared to $97.4 per wet ton in the same period of 2024[20] - The cash cost of iron ore production decreased by 20.5% to $77.4 per ton, attributed to improved ore quality and lower stripping ratios[25] - Mining costs dropped by 47.8% to $23.9 per ton from $45.8 per ton in the previous period, attributed to improved ore quality and lower stripping ratios[40] - The production fixed costs, mine management, and related costs increased by 23.5% to $14.7 per ton, up from $11.9 per ton, mainly due to inflationary pressures and expanded operational activities[41] Strategic Initiatives - The company is investing in a crushing and screening plant at Sutara, expected to reduce transportation costs by approximately 20%[15] - A strategic shift to internalize mining operations is anticipated to enhance operational control and cost efficiency[15] - The company plans to expand its processing capacity and explore additional mining projects to increase overall production capacity[6] - The company plans to balance prudent financial management with investments aimed at improving efficiency and quality[18] - The company plans to purchase and lease its own mining equipment by the end of 2025 to replace some existing contractors[80] Impairment and Asset Management - The company recorded a non-cash impairment charge of $120.2 million for K&S due to the appreciation of the Russian ruble affecting expected operational costs[16] - The total impairment loss related to the K&S mine was $120.2 million, primarily due to the appreciation of the Russian ruble[26] - As of June 30, 2025, the recoverable amount of the K&S project was approximately $134.1 million, down from $268.1 million as of December 31, 2024, resulting in an impairment loss of $120.2 million for the period[136] Market Outlook and Future Plans - The company remains cautiously optimistic about future market conditions despite ongoing challenges, focusing on operational efficiency and financial flexibility[18] - The iron ore price forecast for the second half of 2025 is set at $104.30 per dry ton, with a projected increase to $113.90 per dry ton in 2030 and beyond[134] - The group anticipates a significant increase in costs due to rising contractor rates, wages, and utility expenses, influenced by inflation forecasts in Russia[135] Governance and Compliance - The audit committee reviewed the unaudited interim results for the period, consisting of three independent non-executive directors[111] - The interim financial information has been reviewed by an external auditor[112] - The company is committed to health, safety, and environmental standards in its operations[175] - The board of directors includes independent non-executive members to enhance governance and oversight[175] Shareholder and Capital Management - Axioma Capital FZE LLC holds 830,101,285 shares, representing 64.96% of the company's issued shares as of June 30, 2025[97] - The company raised approximately $46.3 million from a rights issue completed on December 12, 2024[101] - The company did not declare or propose any dividends for the periods ended June 30, 2025, and 2024[142] - The company completed a share consolidation on June 27, 2025, merging every ten shares into one[162] Safety and Operational Efficiency - The lost time injury rate was 0.73, significantly improved from 2.13 in the previous year, indicating a strong commitment to safety[83] - The average operating capacity of the plant improved to approximately 90%, up from 72% in the same period of 2024[30] - The company is focused on optimizing mining and processing factors to enhance economic operations[171]

The following document(s) of IRC Limited ("Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.ircgroup.com.hk and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively "Websites"):- • Interim Report 2025 (If you have previously requested to receive Corporate Communication(s)(Note) in printed form, the printed copy (or copies) is/are enclosed.) If you have not provided us with a valid email address but now would like to receiv ...

格隆汇9月18日丨铁货(01029.HK)宣布，所有先决条件及于中国就转让合营公司(黑龙江建龙钒业有限公 司)46%股权所需的所有政府登记及备案手续均已完成，且集团已于2025年9月17日收取出售事项的代价 约人民币3220万元(相当于约450万美元)。紧随完成后及于本公告日期，集团不再持有合营公司的任何 权益。 ...