Western Gold: Announcement on the Progress of Shutdown of Three Subsidiaries and Its Impact on the Company.

Western Gold announced that its wholly-owned subsidiary, Hami Gold Mine, has completed several report preparations and obtained a new mining license. It plans to resume production after completing initial design work by the end of September 2026. Hongfa Ferroalloy has completed its shutdown maintenance, but due to low market prices, there is currently no plan to resume work. Xinjiang Meisheng is expected to require a 50-day shutdown due to extreme weather conditions. In 2025, Hami Gold Mine had a revenue of 20.6049 million yuan and a net profit of 4.1279 million yuan; Hongfa Ferroalloy had a revenue of 189.3775 million yuan and a net loss of 58.4097 million yuan; Xinjiang Meisheng had a revenue of 1.688 billion yuan and a net profit of 176 million yuan. The shutdown of subsidiaries will have an adverse impact on the company's cash flow and profits, and the recovery time is uncertain.