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2025 Performance Briefing

Breakthroughs in Diversified Channels, Steady Operation and Quality Improvement

In 2025, confronted with a complex and volatile bulk commodity market environment, the Company adhered to the business strategy of stabilizing scale, optimizing structure, expanding channels and strengthening support. Focusing on its core categories of manganese ore and chrome ore, the Company continued to deepen its global resource layout, achieving synchronous improvement in supply chain resilience and operational efficiency, and realizing sound and efficient development of its import business throughout the year.

I. Manganese Ore Import Business: Steady Growth in Scale, Further Expansion of Global Channels

In 2025, the Company signed a total of 1.35 million tons of imported manganese ore contracts throughout the year, with stable supply from core mines and continuous optimization of supply structure.Shipment from the South 32 GEMCO Mine resumed smoothly in May, providing solid support for the Company’s manganese ore business. Cooperation with the Tshipi Jupiter Mine remained stable, and high-silicon ore from Senegal was flexibly shipped via containers, further enriching the product portfolio.In addition, the Company successfully signed long-term agreements with high-quality mines in Brazil, opening up new import channels. This marks a key step forward in the global layout of manganese ore resources and significantly enhances supply security and diversification.

II. Chrome Ore Import Business: Optimized Supply Structure, Enhanced Stable Support Capacity

In 2025, the Company signed a total of 80,000 tons of imported chrome ore contracts throughout the year, focusing on deepening cooperation with high-quality main producing areas and achieving a more rational supply structure.Specifically, it included 60,000 tons of lumpy and fine chrome ore from Madagascar and 20,000 tons of concentrated chrome ore from Zimbabwe. Relying on stable mine cooperation and efficient logistics organization, the Company effectively guaranteed the demand of downstream customers, laying a solid foundation for the steady operation of the chrome ore business.

In 2025, with solid operating performance, continuous channel breakthroughs and a sound resource layout, the Company consolidated its core business advantages and opened up new horizons for its subsequent high-quality development and global operation expansion.

In recent years, Reliant has effectively improved its risk resistance capacity by continuously optimizing cooperation plans, adjusting its business structure, and dynamically regulating the import scale of bulk mineral products.The new zircon sand business complements manganese ore and chrome ore, forming a diversified product portfolio.The Company has continuously refined its supply chain management, further deepened cooperation with major mines, and steadily improved resource allocation efficiency.Going forward, the Company will continue to strengthen its resource integration capabilities and drive the value enhancement of the entire industrial chain through structural upgrading.