Baosteel: The company and its controlling shareholders are facing penalties for violations of disclosure regulations.

Baosteel announced that the company, its controlling shareholder Baogang Group, and related parties have received a "Notice of Administrative Penalties in Advance" from the Xinjiang Securities Regulatory Bureau. From 2022 to 2024, Baosteel had non-operational fund transactions with Baogang Group and its related parties, which were not promptly disclosed and had significant omissions in the regular reports. The Xinjiang Securities Regulatory Bureau intends to impose fines of 3 million yuan and 4 million yuan on Baosteel and Baogang Group respectively; fines of 3.5 million yuan, 1 million yuan, 1.5 million yuan, and 1.5 million yuan on Wu Bin, Ke Shanliang, Liu Wenzhuang, and Fan Guokang respectively. The company has not reached a situation of forced delisting for major violations, and its production and operation are normal.