Dongfang Zirconium Industry's net profit in the first three quarters increased by 369.72% compared with the same period last year. Within two years, the subsidiary will sell titanium concentrate of no more than 200 million yuan to Baililian.

Dongfang Zirconium Industry announced that the net profit in the third quarter was 63.9 million yuan, an increase of 3358.4% over the same period last year. The net profit in the first three quarters was 123 million yuan, an increase of 369.72% over the same period last year.

At the same time, Oriental Zirconium Industry also issued a notice on the new daily related party transaction quota, saying that Guangdong Dongfang Zirconium Technology Co., Ltd. plans to have daily related party transactions with Longbai Group Co., Ltd., with an estimated total increase of 290 million yuan. Among them, the company subsidiary Australia East Zirconium Resources Co., Ltd. plans to sign a sales framework agreement with Bailian (Hong Kong) Co., Ltd., a subsidiary of Longbai Group. Within two years from the date of reaching the terms of the agreement, Australian East Zirconium will sell titanium concentrate to Baili Lian (Hong Kong) Co., Ltd., agreeing to be priced in US dollars, taking into account the influence of price and exchange rate fluctuations, the transaction amount is expected to be no more than 200 million yuan. The specific quantity and price shall be subject to the subsequent actual order or agreement.

Longbai Group holds 182210818 shares of the company, accounting for 23.62% of the total share capital of the company. Baililian (Hong Kong) Co., Ltd. is a subsidiary of Longbai Group, all of which are related parties of the company. At the same time, Mr. Xu Gang, chairman of the company, is the controlling shareholder of Longbai Group and serves as chairman and president of Longbai Group. Mr. Tan Ruowen, director and secretary of the board of directors, is the son of Mr. Tan Ruiqing, vice chairman and shareholder of Longbai Group. According to the rules governing the listing of stocks on the Shenzhen Stock Exchange, this transaction constitutes a related party transaction.