Fangda Special Steel: Intends to sell 1.62% of East Sea Securities to Dongwu Securities.

Fangda Special Steel announced that on March 13, the company signed a framework agreement with Dongwu Securities to sell 1.62% of its shares in Donghai Securities. Due to the incomplete audit and evaluation, the transaction price is to be determined through negotiation, and there is currently no need for a shareholder meeting to approve it. This transaction does not constitute a related party transaction or a major asset restructuring. The transaction will need to be reviewed by the board of directors and shareholders' meeting of Dongwu Securities, and will require approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission. There is uncertainty in the transaction, and the company will promptly disclose any progress.