NORTH MINING (00433) announced that on December 4, 2025 (after trading hours), the company (as the seller) entered into a sale and purchase agreement with the buyer, Li Xiaolong (as the purchaser). Under the agreement, the company conditionally agreed to sell, and the buyer conditionally agreed to purchase, the sale shares, representing the entire issued share capital of the target company, Jiulong Investment (Shanghai) Co., Ltd.

The consideration for the sale shares is HK$1 million, to be settled in cash by the buyer upon completion. Following the transaction, the mining business will become the sole core operation of the remaining group. The mining business primarily involves the exploration, extraction, production, and sale of molybdenum concentrate in China. For over a decade since December 2009, these operations have been conducted through the company's subsidiary, Shaanxi Luonan Jiulong Mining Co., Ltd.

The financial performance of the disposal group mainly stems from the chemical trading operations of Anhui Tongxin and its subsidiaries. The group initiated its aluminum trading business in the second half of 2024, which has generated minimal revenue since inception and holds no significant assets. Other member companies within the disposal group have no active operations nor hold any material assets of the group.

The board believes the proposed disposal presents a strategic opportunity for the group to refocus its business priorities and reallocate resources toward developing its core mining operations.