Zhejiang Resources (600070): The First Phase Of ESOP Is About To Expire.

Zhejiang Fu run Limited by Share Ltd announcements on the expiration of the first phase of ESOP plan

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.

Zhejiang Fu run Limited by Share Ltd (hereinafter referred to as "company") held the seventh meeting of the eighth board of directors and the first provisional shareholders' meeting in 2018 in December 28, 2017 and January 16, 2018 respectively, and passed the motion on the first phase employee stock ownership plan (Draft) and its summary of Zhejiang Fu run Limited by Share Ltd. The details are listed in the December 29, 2017 and January 17, 2018 respectively in the China Securities Daily, the Shanghai Securities Daily, the Securities Daily, the securities times and the Shanghai stock exchange website.

According to the guidance of the China Securities Regulatory Commission on the pilot implementation of the employee stock ownership plan for listed companies, the guidelines for information disclosure of listed companies' ESOP and the first phase of the employee stock ownership plan (Draft) of the Shanghai stock exchange, the duration of the ESOP will expire on January 16, 2020. 6 months before the expiration of ESOP, the number of shares held by the company and subsequent arrangements will be announced as follows:

I. shareholding of ESOP

1, the situation of ESOP buying stocks.

In July 13, 2018, the company disclosed the announcement on the completion of stock purchase in the first phase of the company's ESOP (Bulletin number: pro 2018-029). As of July 12, 2018, the first phase of the employee stock ownership plan of the company was based on the gf's fortune 1 directional asset management plan (hereinafter referred to as "Fu run No. 1"), which accumulated 23 million 77 thousand and 400 shares of the company's stock (15 million 182 thousand and 400 of which were purchased in bulk transactions, and concentrated bid buying).

7 million 895 thousand shares), accounting for 4.42% of the total share capital of the company, and the average transaction price is about 8.64 yuan / share. The lock up period is 12 months, that is, from July 13, 2018 to July 12, 2019.

2. The company's rights and interests allocation plan during the duration of ESOP.

The company's 2018 equity allocation scheme is based on the total share capital of the equity allocation day (June 24, 2019), which is deducted from the number of repurchase shares that do not participate in profit distribution, and to all shareholders 10 shares.

The cash dividend is RMB 0.80 yuan (including tax), instead of capital reserve fund. As of the announcement date, the number of shares held by the company's first phase employee stock ownership plan ("fortune 1") has not changed. It still holds 23077358 shares of the company's stock, and has received cash dividends from the company in accordance with the regulations. There has been no reduction or use in mortgage, pledge, guarantee and so on. There has been no claim of the third holders of the ESOP scheme on the stock and capital of the ESOP.

Two. Arrangements for the expiration and duration of ESOP.

1. The first phase of the ESOP is 24 months, and it will expire on January 16, 2020 from the date of the first provisional shareholders' meeting of the company in January 16, 2018, which is considered by the employee stock ownership plan (ESOP) in 2018.

According to the provisions of the first phase of the employee stock ownership plan (Draft), the employee stock ownership plan ("fortune 1") will decide whether to sell stocks according to the overall arrangement of the stock ownership plan and the market situation at that time.

2, the company's ESOP will strictly abide by the rules of market transactions and comply with the provisions of the CSRC and the Shanghai Stock Exchange on the issue of not buying or selling stocks during the window period.

3. 1 months after the expiration of this ESOP, the holder of the ESOP will agree to the above 2/3 share and submit it to the board of directors for consideration and approval. The duration of ESOP can be terminated or extended in advance.

Three, other instructions

The company will fulfill the obligation of information disclosure in accordance with the regulations according to the progress made in the current ESOP implementation.

Notice hereby.

Board of directors of Zhejiang Limited by Share Ltd

Two July 16th 19