New Mining Resources (01231) subsidiary signs public cloud service agreement with cloud service provider

Zhitong Finance App News, Xinmin Resources (01231) issued an announcement. On September 3, 2026, Xiangli Investment Co., Ltd. (Xiangli), an indirect wholly-owned subsidiary of the company, signed a public cloud service agreement with an independent third-party cloud service provider. According to the service agreement, the service provider will provide Xiang Li with access to high-performance graphics processor (GPU) public cloud computing power for a period of 36 months to support the Group's development and provision of cloud computing, artificial intelligence (AI) and related technical services. GPU refers to an electronic circuit that accelerates the rendering of images, videos, and graphics through high-speed mathematical operations.

The service provider is a company incorporated in Singapore, mainly engaged in providing cloud computing and related technical services. The Group is mainly engaged in resource business. The main functions performed by the Group include not only the procurement and supply of iron ore and other commodities, but also the provision of value-added services, such as supplier management and logistics support. In line with its business diversification strategy, the Group plans to develop cloud computing and AI related businesses. Based on this, the Group will use cloud services purchased from service providers in accordance with service agreements to provide cloud computing power and related technical services to enterprise customers. The board of directors believes that the service agreement will enable the Group to obtain GPU computing power within the next three years without having to bear the capital commitments and expenses related to the direct purchase and maintenance of related GPU hardware and servers, thereby supporting the Group to expand the provision of cloud computing, AI and related technical services with a lower risk exposure.