Baosteel: Plans to invest 17.13 million yuan in the replacement project for the preheating system of Blast Furnace 2500 in the ironmaking plant.

Baosteel announced that the company held a board meeting on March 27, 2026, to review and approve the replacement project for the preheating of the No. 2500 blast furnace in the ironmaking plant. The proposal still needs to be approved by the shareholders' meeting. The total investment for the project construction without tax does not exceed 17.1383 million yuan, which will be self-funded by the company, and the project is expected to be completed 5 months after the contract is signed. After the project is implemented, the hot air temperature can be increased by 80, meeting the demand for a wind temperature of 1200, saving 4.98kgce per ton of iron and generating an annual income of 12.4827 million yuan. However, there are risks of investment adjustments and reduction in annual income during the implementation of the project.