NORTH MINING (00433.HK): Yang Yingmin Resigns as Chairman and CEO; Wu Yijie Takes Over as Chairman and Authorised Representative

NewTimeSpace News: On 20 October 2026, North Mining Shares Company Limited (the "Company") announced that Yang Yingmin ("Mr. Yang"), owing to work reorganisation and in order to focus on operating and developing Shaanxi Luonan County Jiulong Mining Co., Ltd., a subsidiary operating the Group's core principal business, has tendered his resignation as chairman of the board, executive director, chief executive officer, authorised representative of the Company under Rule 3.05 of the Listing Rules and chairman of the nomination committee, all with effect from 20 October 2026. Following his resignation from the above positions at the parent company level, Mr. Yang will remain as chairman of Shaanxi Luonan County Jiulong Mining Co., Ltd. and will devote his full efforts to the daily operations, strategic planning and business development of that core business to ensure the stable operation of the Group's principal business.

The announcement disclosed that Shen Jian ("Mr. Shen") has tendered his resignation as an executive director of the Company owing to personal matters and other business commitments, with effect from 20 October 2026. Mr. Yang and Mr. Shen have each confirmed that they have no disagreement with the board and the management of the Company and that there are no matters relating to their resignations that need to be brought to the attention of the Company's shareholders or the Stock Exchange; the board expressed its sincere gratitude to Mr. Yang and Mr. Shen for their outstanding contributions to the Company during their tenure.

The Company stated that Wu Yijie ("Mr. Wu") has been appointed as an executive director, chairman of the board and authorised representative of the Company, all with effect from 20 October 2026. Mr. Wu, aged 30, holds a Master of Science degree in International Marketing Strategy and Management from the University of Sheffield in the United Kingdom; he joined Shanghai Chaowei Computer Technology Co., Ltd. in 2022 as platform operations supervisor, joined Shanghai Tongxing Trading Co., Ltd., a subsidiary of the Company, in 2023 as head of overseas trade and concurrently serves as legal representative of several subsidiaries of the Company, and became sales director of the Company in 2025. The Company has entered into a service contract with Mr. Wu; his appointment as an executive director has no fixed term and he is entitled to a director's salary of HK$30,000 per month. As at the announcement date, he holds no interest in the shares or underlying shares of the Company and, save as disclosed, has no relationship or financial interest with any other director, senior management, substantial shareholder or controlling shareholder of the Company.

The announcement also stated that, following Mr. Yang's resignation, the positions of chief executive officer and chairman of the nomination committee are currently vacant; the Company is actively identifying and evaluating suitable candidates to fill the vacancies as soon as practicable, and the appointments will be arranged by the board in due course. During this transition period, the Company's daily management, operations and material decisions will be temporarily handled collectively by the existing executive directors and senior management team, and the Company will make further announcements in accordance with the Listing Rules in due course.