FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 鐵江現貨有限公司 呈交日期： 2024年12月13日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | | 是 | | | | 證券代號 (如上市) 01029 | 說明 | | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | | 事 ...

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。 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。 （於 香 港 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1029） 以非包銷基準 按於記錄日期每持有兩（2）股現有股份 獲發一（1）股供股股份的基準進行供股的結果 茲提述鐵江現貨有限公司（「本公司」）日期為2024年11月21日有關供股的章程（「章 程」）。除 另 有 界 定 外，本 公 告 所 用 詞 彙 與 章 程 所 界 定 者 具 有 相 同 涵 義。 供股的結果 董 事 會 欣 然 宣 佈，供 股 已 於2024年12月9日（星 期 一）成 為 無 條 件，而 截 至2024年 12月5日（星 期 四）下 午4時 正（即 最 後 接 納 時 間）， 根 據 不 可 撤 回 承 諾，Axioma Capital ...

(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 Shareholder(s), 21 November 2024 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"):- • Prospectus dated 21 November 2024 in relation to Rights Issue on the basis o ...

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"):- • Prospectus dated 21 November 2024 in relation to Rights Issue on the basis of One (1) Rights Share for every Two (2) Existing Shares held on the Record Date on a non-underwritten basis (If you have previously requested to receive Corporate Commu ...

The whole of this Provisional Allotment Letter must be returned to be valid. 本暫定配額通知書必須整份交回，方為有效。 茲提述鐵江現貨有限公司（「本公司」）所刊發日期為2024年11月21日有關供股的章程（「章程」）。除文義另有所指外，本文件所用詞彙與章程所 界定者具有相同涵義。 THIS PROVISIONAL ALLOTMENT LETTER ("PAL") IS VALUABLE AND TRANSFERABLE AND REQUIRES YOUR IMMEDIATE ATTENTION. THE OFFER CONTAINED IN THIS PAL AND THE ACCOMPANYING EXCESS APPLICATION FORM ("EAF") WILL EXPIRE AT 4:00 P.M. ON THURSDAY, 5 DECEMBER 2024 (OR SUCH LATER DATE OR TIME AS MENTIONED IN THE PARAGRAPH HEADED "EFFECT OF BAD WEAT ...

IMPORTANT Reference is made to the prospectus issued by IRC Limited dated 21 November 2024 in relation to the Rights Issue (the "Prospectus"). The PAL and this Excess Application Form ("EAF") should be read in conjunction with the Prospectus. Capitalised terms used herein shall have the same meanings as those defined in the Prospectus unless the context requires otherwise. IF YOU ARE IN ANY DOUBT AS TO ANY ASPECT OF THIS EAF OR AS TO THE ACTION TO BE TAKEN, YOU SHOULD CONSULT YOUR STOCKBROKER, A LICENSED DE ...

此乃要件 請即處理 閣下如對本章程之任何方面或應採取之行動有任何疑問，應諮詢 閣下之持牌證券交易商或註冊證券機構、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓 名 下 所 有 鐵 江 現 貨 有 限 公 司 的 股 份，應 立 即 將 章 程 文 件 送 交 買 主 或 承 讓 人，或 經 手 買賣或轉讓的銀行、持牌證券交易商或註冊證券機構或其他代理人，以便轉交買主或承讓人。然而，倘向 或 從 任 何 司 法 權 區 分 發、轉 發 或 傳 送 章 程 文 件 可 能 會 違 反 相 關 的 當 地 證 券 法 律 或 法 規，則 不 應 向 或 從 任 何司法權區分發、轉發或傳送章程文件。 各 份 章 程 文 件 連 同 本 章 程 附 錄 三「12.由 公 司 註 冊 處 處 長 登 記 之 文 件」一 段 所 述 之 文 件，已 依 據 公 司（清盤 及雜項條文）條例第38D條 規 定 向 香 港 公 司 註 冊 處 處 長 登 記。香 港 公 司 註 冊 處 處 長、聯 交 所 及 證 監 會 對 任 何此等文件之內容概不負責。 本章程所述之證券並無根據1933年美國證券法（經修訂 ...

Financial Performance - In the first half of 2024, the company reported a basic loss of approximately $10.8 million, a significant decline compared to a basic profit of $9.3 million in the same period last year[6]. - Revenue decreased by approximately 19.3% from about $139.2 million to $112.3 million due to a significant drop in sales volume[8]. - The company reported a negative EBITDA of $1.7 million in 2024, compared to a positive EBITDA of $28.5 million in 2023[8]. - EBITDA excluding non-recurring items and foreign exchange for the first half of 2024 was a loss of $1.735 million, compared to a profit of $28.453 million in the same period of 2023, marking a decline of 106.1%[22]. - The company reported a loss of $13.2 million for the first half of 2024, with a basic loss of $10.8 million after excluding non-recurring items and foreign exchange effects, reflecting a 216.2% increase from a profit of $9.3 million in the same period last year[24]. - The company reported a cumulative loss of $1,062,545 thousand as of June 30, 2024, compared to $1,049,306 thousand as of December 31, 2023, reflecting an increase in cumulative losses[95]. - The company reported a total comprehensive loss for the six months ended June 30, 2024, was $66,836 thousand, compared to $65,749 thousand for the same period in 2023, indicating a slight increase in losses[95]. Production and Sales - K&S operated at an average capacity of about 72%, producing 1,132,201 tons of iron concentrate, a decrease of 13.5% from 1,308,821 tons in the previous year[6]. - Iron ore production and sales for the first half of 2024 were 1,132,201 tons and 1,118,750 tons, respectively, representing declines of 13.5% and 18.6% compared to the same period in 2023[17]. - Sales volume for K&S in the first half of 2024 was 1,118,750 tons, down 18.6% from 1,374,549 tons in the previous year[25]. - The company faced challenges with ore quality and mining efficiency, leading to a 37.0% decrease in mining volume, while the processing plant's feed only decreased by 5.7% due to the use of accumulated low-quality ore stock[25]. - K&S aims to produce 3.2 million tons of iron concentrate with a grade of 65% annually in the first phase, with potential expansion to 6.3 million tons in the second phase[60]. Costs and Expenses - The cash cost per ton increased by approximately 25.4% from $77.7 to $97.4 in the first half of 2024, driven by inflation and rising mining costs[8]. - The company faced significant increases in production costs due to high mining costs, temporary export taxes from Russia, and high inflation rates[21]. - Cash costs net (excluding transportation) increased by $22.1 per ton to $81.9 per ton, primarily driven by high mining costs due to higher average mining volumes of lower-quality ore[31]. - The net cash cost (including transportation) rose by 25.4% to $97.4 per ton, influenced by increased mining costs, new export taxes, and strong inflation[35]. - General administrative expenses before depreciation decreased by 8.9% to $5.1 million compared to $5.6 million in the same period last year[36]. - Financing costs decreased by 18.4% to $3.3 million, attributed to increased cash balances generating more interest income and reduced loan principal[39]. Cash Management and Liquidity - The company is currently facing difficulties in cash management due to complex funding issues and rising operational costs[7]. - As of June 30, 2024, the cash balance decreased to $39.4 million from $56.6 million as of December 31, 2023, and net debt increased to $23.9 million from $11.2 million[10]. - The company is focused on maintaining financial stability and managing cash resources effectively in response to ongoing market volatility and high inflation pressures[15]. - The company plans to explore potential solutions to enhance liquidity to manage current uncertainties in the market[15]. - The company reported a net cash outflow of $1.2 million for the six months ended June 30, 2024, attributed to decreased sales and increased operating costs[47]. Geopolitical and Operational Challenges - The geopolitical environment and sanctions against Russia have created significant operational challenges and uncertainties for the company[9]. - The company acknowledges the challenges posed by geopolitical issues, which complicate strategic planning and operational decisions[15]. - The company continues to monitor the impact of sanctions from the UK, EU, and US, which have not had a significant direct effect on operations to date[99]. - The company is actively assessing risks related to supply chain disruptions due to geopolitical factors and macroeconomic conditions[99]. Future Plans and Projects - The Sutara mine is anticipated to improve operational efficiency and extend the overall mining life by providing higher quality ore, with operations expected to commence in the second quarter of 2024[9]. - The company is actively exploring the establishment of its own mining team to reduce reliance on third-party contractors, which is expected to enhance operational efficiency[6]. - The company has initiated stripping and mining operations at the Sutara mine, which is expected to provide a long-term solution to the ore quality issues[25]. - The company is considering additional wet magnetic separation stages to produce ultra-high-grade iron ore with 68% iron content, enhancing project value[69]. Shareholder and Corporate Structure - As of June 30, 2024, the company has issued 8,519,657,257 shares, with Nikolai Levitskii holding 4,836,157,937 shares, representing 56.76% of the total[72]. - Public shareholders held 43.24% of the company's shares following the completion of the offer on February 22, 2024[81]. - On February 22, 2024, MIC invest LLC sold its entire equity interest in the company, and Axioma became the ultimate parent company[128]. - The company had no stock options granted during the six months ending June 30, 2024, under the stock option plan[78]. Miscellaneous - The company is involved in the mining and metallurgy sector, focusing on resource estimation and feasibility studies[134]. - The report indicates that all amounts are in US dollars unless otherwise specified[134]. - The company has a comprehensive board structure, including various committees such as audit, remuneration, and health, safety, and environment[137].

Financial Performance - Revenue decreased to $112.3 million, down 19.3% from $139.2 million in the same period last year, primarily due to an 18.6% decline in sales volume[2] - EBITDA (excluding non-recurring items and foreign exchange) was negative $1.7 million, a significant drop from a positive $28.5 million in the same period last year[6] - Basic loss attributable to shareholders was $13.2 million, compared to a loss of $65.7 million in the previous year, reflecting a 79.8% improvement[4] - The company reported a loss of $13.2 million for the first half of 2024, with a basic loss of $10.8 million excluding non-recurring items and foreign exchange effects, reflecting a 216.2% increase from a profit of $9.3 million in the same period of 2023[8] - The company reported a net loss of $(13,226) thousand, significantly improved from a net loss of $(65,749) thousand in the prior year, representing an 80.1% reduction[43] - Basic and diluted loss per share improved to $(0.16) from $(0.77) year-over-year[42] Production and Sales - Production decreased by 13.5% to 1,132,201 tons, compared to 1,308,821 tons in the previous year, attributed to ore quality and mining issues[4] - Sales volume fell to 1,118,750 tons, down 18.6% from 1,374,549 tons in the previous year, consistent with the production decline[4] - Iron ore production decreased by 37.0% to 1,132,201 tons in the first half of 2024, down from 1,308,821 tons in the same period last year, while sales volume fell by 18.6% to 1,118,750 tons[9] - K&S reported a commercial iron ore production of 1,132,201 tons in the first half of 2024, down 13.5% from 1,308,821 tons in the same period of 2023[90] Costs and Expenses - Cash costs increased to $97.4 per ton sold, up 25.4% from $77.7 per ton in the previous year, driven by high mining costs and temporary export taxes[4] - Cash costs per ton increased by approximately 25.4% to $97.4 from $77.7, driven by rising inflation and mining costs[39] - General administrative expenses before depreciation decreased by 8.9% to $5.1 million from $5.6 million in the same period last year[17] - Depreciation expenses for the first half of 2024 were $5.6 million, a decrease of 42.4% from $9.8 million in the previous year[19] Debt and Financing - Net debt increased to $23.9 million from $11.2 million, primarily due to reduced profitability and difficulties in bank fund transfers[2] - The total borrowings from MIC as of June 30, 2024, amounted to $63.3 million, down from $67.7 million as of December 31, 2023[32] - The company's debt-to-equity ratio decreased to 22.7% as of June 30, 2024, compared to 23.3% as of December 31, 2023, due to reduced borrowings after loan repayments[34] - The weighted average interest rate on borrowings for the first half of 2024 was 8.78%, slightly up from 8.65% in the same period of 2023[32] Operational Challenges - Future outlook remains challenging due to low iron ore prices and high inflation, impacting profit margins and profitability[3] - The company is facing challenges in pricing power due to competition from local producers and has noted a trend of steel mills opting for lower-grade and cheaper iron ore[12] - The company is actively addressing ore quality issues and has upgraded processing facilities to handle lower-grade ores more effectively[9] - The company is facing ongoing challenges from geopolitical factors and sanctions affecting operations in Russia, complicating cash management and operational stability[40] Projects and Developments - The company is progressing with the Sutara project, which aims to improve ore quality and extend the overall mining life of K&S[3] - Mining operations at the Sutara site are expected to improve production capacity due to higher-grade iron ore, with stripping and mining activities commenced in Q2 2024[9] - The Sutara mine is expected to enhance operational efficiency and extend the overall mining period, with stripping and mining operations having commenced in Q2 2024[41] - K&S is exploring two feasible development options for the Garinskoye project, with one option targeting an annual capacity of 4.6 million tons and a mine life of over 20 years[95] Cash Flow and Liquidity - Cash and bank balances decreased to $45.151 million as of June 30, 2024, down from $56.557 million at the beginning of the year[25] - Cash balance decreased to $39.4 million as of June 30, 2024, down from $56.6 million on December 31, 2023, while net debt increased to $23.9 million from $11.2 million[40] - The company reported a net cash flow from operating activities of $(1,395) thousand, a decrease from $32,523 thousand in the same period of 2023[48] - The company reported total cash and cash equivalents balance of $38,890 thousand as of June 30, 2024, down from $44,930 thousand a year earlier[48] Market Conditions - The average price of iron ore with 65% Fe content was $130.7 per ton, a decrease of 1.0% from $132.0 per ton in the previous year[4] - The average inflation rate in Russia was 9.2% as of June 2024, significantly above the central bank's target of 4%[15] - The company continues to monitor the impact of sanctions from the UK, EU, and US, which have not had a significant direct effect on operations to date[51] Employee and Governance - The company employed 1,579 people as of June 30, 2024, down from 1,629 employees a year earlier, with total employee costs amounting to $17.4 million[36] - The company’s management compensation for the six months ending June 30, 2024, totaled $2,296,000, a decrease from $2,765,000 in the same period of 2023[83] - The company has adopted corporate governance principles and complies with the listing rules of the Hong Kong Stock Exchange[102]

Financial Performance - The company reported a basic profit of $8.7 million for the fiscal year ending December 31, 2023, despite facing multiple challenges[16]. - The company recorded a basic profit of $8.7 million, a decline of 65.1% year-on-year, and reported a loss of $156.8 million after adjustments[38]. - The company achieved an EBITDA of $278.8 million for the fiscal year 2023, reflecting a significant increase compared to previous years[11]. - EBITDA for the iron ore segment decreased by 18.4% to $45.8 million in 2023 due to reduced sales volume and falling prices[43]. - The group reported a basic EBITDA of $45.8 million for 2023, a decrease from $56.1 million in 2022, primarily due to lower realized prices, reduced production, and increased costs[123]. - The net loss attributable to the company was $156.8 million in 2023, influenced by impairment losses and non-recurring items[63]. - The company recorded an impairment provision of $163.9 million for 2023, with an additional $90.3 million in H2[44]. - The company reported a basic profit of $8.7 million, but a significant non-cash asset impairment of $163.9 million led to a total loss of $156.8 million for 2023, compared to a loss of $87.9 million in 2022[93]. Production and Sales - K&S produced 2,466,829 tons of iron ore, a decrease of 4.0% compared to 2022, with sales of 2,528,596 tons, down 1.5%[32]. - The total iron ore production for 2023 was 2,466,829 tons, a decrease of 4.0% from 2,569,845 tons in 2022[54]. - The sales volume for iron ore in 2023 was 2,528,596 tons, down 1.5% from 2,566,480 tons in 2022[54]. - The realized price per dry ton of iron ore was $108 in 2023, an 8.5% decrease from $118 in 2022[54]. - Production and sales in 2023 declined by 4% and 1.5% respectively compared to the previous year, with K&S operating at approximately 78% of average capacity[136]. Financial Position and Debt - Cash reserves increased from $36.9 million at the end of 2022 to $56.6 million at the end of 2023, enhancing the company's financial position[16]. - The net debt to EBITDA ratio improved to 0.24 in 2023, indicating a stronger financial position[11]. - The net debt decreased, contributing to improved liquidity and overall financial stability for future growth opportunities[16]. - The company's net debt decreased significantly to $11.2 million by the end of 2023, down from $41.6 million in 2022[114]. - The debt-to-EBITDA ratio improved to 0.24 in 2023, compared to 0.74 in 2022, reflecting a substantial reduction in net debt[114]. Operational Challenges - The company faced operational challenges due to the depletion of resources at the Kimkan mine, impacting production and profitability[16]. - The operational efficiency has declined due to the depletion of the Kimkan mine and the transition period before the Sutara mine begins operations[22]. - The company faced operational challenges due to heavy rainfall in summer 2023, affecting production efficiency[33]. - The company faced operational challenges including poor ore quality and equipment supply issues, impacting production rates[65]. Market Conditions - The geopolitical risks and rising operational costs have negatively impacted iron ore prices, posing challenges for the company[16]. - In Q1 2023, iron ore prices surged by 26.1% to $140 per ton due to optimistic demand recovery in China[39]. - In Q2 2023, iron ore prices fell by 11.4% to $124 per ton as supply recovery outpaced demand[39]. - The average price of iron ore for the year was $132 per ton, a decrease of 5.0% compared to 2022[39]. - China's economic recovery is pivotal for iron ore demand, influencing market prices significantly[48]. Cost Management - Cash costs per ton remained stable at $78.9, despite rising operational costs and inflation pressures[42]. - Cash costs (excluding transportation) increased by 18.2% to $62.9 per ton in 2023, primarily due to rising government-set electricity prices and fuel costs[57]. - Transportation costs decreased by approximately 37.5% to $16.0 per ton in 2023, offsetting some of the increases in other cost components[57]. - The average cash cost per unit increased due to a decline in production, increased transportation distances, and stripping ratios, although the weakening of the Russian ruble benefited cash production costs[134]. Future Plans and Developments - The company plans to expedite the development of the Sutara mine to mitigate the impact of delays in production from the Kimkan mine[20]. - The successful operation of the Sutara project is critical for increasing production and controlling costs, with a planned start in mid-2024[47]. - The Sutara project is expected to begin operations in the first half of 2024, with an estimated initial capital expenditure of approximately $50.4 million, of which $29.2 million has already been incurred[139]. - The company plans to fully utilize low-quality ore stockpiles in 2024, which were previously required to be used over a longer period[33]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and has implemented revised mining plans to enhance production capacity[20]. - The company has established specific environmental, social, and governance (ESG) goals that are reviewed annually by the board[199]. - The company aims to enhance its resource management strategies, focusing on sustainable practices in mining operations[196]. - The company emphasizes stakeholder engagement in its ESG initiatives, integrating feedback into its strategies and plans[196]. Employee and Safety Metrics - As of December 31, 2023, the group employed 1,636 employees, a decrease from 1,804 in 2022, with total employee costs amounting to $28.8 million, down from $35.7 million in 2022[118]. - The lost time injury rate for 2023 was reported at 1.08 per 1,000,000 hours worked, an increase from 0.66 in 2022, indicating a need for improved safety measures[123]. - The company aims to maintain high safety standards and implement a zero-accident policy across all operations[134].