MAANSHAN IRON (00323): Maanshan Iron & Steel plans to bring in investor Baoshan Iron & Steel.

On April 17, 2025, MAANSHAN IRON (00323) announced that the company had entered into a share transfer agreement with Baoshan Iron & Steel and the target company (Maanshan Iron and Steel Co., Ltd.). According to the agreement, the company agreed to transfer 35.42% of the shares of the target company held by Baoshan Iron & Steel, while Baoshan Iron & Steel agreed to acquire 35.42% of the shares of the target company held by the company, at a transfer price of 5.139 billion RMB. On the same date, April 17, 2025, the company, Baoshan Iron & Steel, and the target company signed a capital increase agreement. According to this agreement, Baoshan Iron & Steel agreed to increase its capital in the target company by 3.861 billion RMB, with 2.66 billion RMB as the target company's new registered capital and 35.95 billion RMB as the target company's capital reserves. After the completion of the share transfer and capital increase, the company and Baoshan Iron & Steel will each hold 51% and 49% of the shares of the target company respectively, and the target company will become a subsidiary of the company. The target company was established as a limited liability company registered in China on December 23, 2024, with a registered capital of 1 billion RMB as of the date of this announcement. It is a wholly-owned subsidiary of the company and its main business is steel manufacturing. The share transfer and capital increase will help optimize the company's capital structure, strengthen its financial strength, and provide funding support for future development. By introducing investors through the share transfer and capital increase, Baoshan Iron & Steel, a globally leading modern steel enterprise, will be able to leverage its system advantages, market influence, technological leadership, talent advantages, and synergy experience to drive innovation in the management and business models of the target company. This will promote the coordinated development of Baoshan Iron & Steel and the target company, enhance the target company's core competitiveness and overall strength, accelerate the implementation of the company's new round of planning, and better implement the company's overall strategy, thereby benefiting the company's long-term compliance and high-quality development.