IRC (01029) announced the completion of the sale of its 46% equity stake in Heilongjiang Jianlong Vanadium Industry Co., Ltd (the joint venture company) pursuant to an equity transfer agreement.

All preconditions and requisite government registration and filing procedures in China for the transfer of the 46% stake in the joint venture company have been completed. The group received consideration of approximately RMB 32.2 million (equivalent to approximately USD 4.5 million) on September 17, 2025.

Following the completion of the transaction and as of the date of this announcement, the group no longer holds any interest in the joint venture company.