Baosteel Co.,Ltd.: Intends to increase its capital by increasing its shareholding in Baowu Water Affairs and entering into Baowu Environmental Science.

Baosteel Group announced that the company and its subsidiaries intend to use their 46.44% equity interest in Baowu Water Affairs as the basis for a valuation of 1.68 billion RMB yuan, and jointly increase their stake in Baowu Environment Technology with related parties, resulting in a total ownership of 19.93% after the capital increase.