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Yu Diamond: Announcement of the company's commitment
**Abstract**
Zhengzhou Huajing Diamond Co., Ltd. (hereinafter referred to as "the Company" or "the Company") is subject to the "Guidelines for the Supervision of Listed Companies No. 4" issued by the China Securities Regulatory Commission. These guidelines outline the responsibilities and obligations of actual controllers, shareholders, related parties, acquirers, and listed companies. The Company has made several commitments and performance assurances, which have been self-inspected. However, certain commitments have not been fully disclosed or fulfilled in accordance with the regulatory requirements.
I. Commitment on Stock Circulation Restrictions and Voluntary Lock-in of Shares
1. Mr. Guo Liuxi, the actual controller of the Company, committed on July 1, 2009, that after 36 months from the date of the Company's listing, the shares directly or indirectly held during his employment would not exceed 25% of the total shareholding. Additionally, within six months of leaving the Company, the shares held would not be transferred beyond 25% of the total shareholding. Within 12 months of leaving, the transfer of shares would not exceed 50% of the total shareholding. The commitment period extended for 18 months after the initial period and following resignation. As of the announcement date, the commitment was strictly fulfilled.
2. Mr. Yang Jinzhong, a director and deputy general manager, and Mr. Zhang Zhao, chairman of the board of supervisors, also made similar commitments on July 1, 2009. They pledged not to transfer more than 25% of their direct or indirect holdings during their tenure and not to exceed 50% within 12 months of leaving. The same 18-month extension applied after resignation. The commitments were fully met as of the announcement date.
II. Commitment to Avoid Horizontal Competition
(1) Henan Huajing Superhard Materials Co., Ltd., the controlling shareholder of the Company, issued a "Commitment Letter on Avoiding Horizontal Competition" on July 24, 2009. It promised not to engage in any business that would compete with Yu Diamond’s main operations. If the Company remains the largest shareholder or holds over 5%, it will avoid any activities that could lead to competition. In cases where conflicts arise, Yu Diamond will have the right to acquire assets or equity under fair conditions. This commitment is valid indefinitely, and as of the announcement, it was fully complied with.
(2) Mr. Guo Liuxi, the actual controller, also issued a similar commitment letter. He assured that entities under his control would not engage in businesses that could compete with Yu Diamond. If such a situation arises, Yu Diamond will have priority in acquiring the relevant assets or controlling interests. The commitment remains in effect long-term, and as of the announcement, it was strictly followed.
III. Commitment Regarding the Use of the “Hua Jing†Business Name
On September 6, 2009, both the controlling shareholder, Henan Huajing Superhard Materials Co., Ltd., and Mr. Guo Liuxi issued a commitment letter stating that they would no longer use the “Hua Jing†trade name for new business entities unless directly established by Yu Diamond. If the company loses control of Yu Diamond, it would abandon the “Huajing†trademark. This commitment is also valid indefinitely, and as of the announcement, it was fulfilled.
IV. Commitment on Social Security and Housing Fund
Henan Huajing Superhard Materials Co., Ltd. committed on January 10, 2010, to bear all financial losses related to social insurance and housing fund payments for employees before December 2009. This ensured that Yu Diamond would not suffer any losses. The commitment remains in effect, and as of the announcement, it was fully honored.
V. Commitment on Profit Distribution
On September 4, 2012, the Company approved a proposal to distribute cash dividends annually, with at least 10% of distributable profits paid out if there were no major investment plans. The commitment was valid until the change in the Articles of Association. As of the announcement, the Company adhered strictly to this policy.
VI. Other Commitments and Performance
As of the announcement date, the Company confirmed that its actual controllers, shareholders, related parties, and acquirers had no unfulfilled or non-compliant commitments. All previous assurances were properly executed.