Chongqing Iron & Steel Co., Ltd. (01053) plans to invest and issue 1 billion yuan of shares to Huabao

Zhitong Finance App News, Chongqing Iron & Steel Co., Ltd. (01053) issued an announcement. The company held the 22nd meeting of the 10th board of directors on December 19, 2025 to deliberate and pass the bill relating to the issuance of A-shares by the company to specific targets in 2025 (hereinafter referred to as the “current offering”). The company and Huabao Investment Co., Ltd. (hereinafter referred to as “Huabao Investment”), the subscriber of this offering, signed the “Share Subscription Agreement between Chongqing Iron and Steel Co., Ltd. and Huabao Investment Co., Ltd.” (hereinafter referred to as the “Share Subscription Agreement”) on December 19, 2025. Huabao Investment plans to subscribe for the shares issued by the company in cash.

The total capital raised by the company is expected to be no more than 1 billion yuan (including capital). After deducting the relevant issuance fees, all of it will be used to supplement working capital and repay bank loans. The scale of funds raised is based on the plan finally approved by the relevant approval authorities and supervisory authorities. Among them, Huabao Investment's proposed subscription amount is 1 billion yuan. Huabao Investment and Chongqing Changshou Iron & Steel Co., Ltd. (hereinafter referred to as “Changshou Steel”), the controlling shareholder of the company, are also controlled by China's Baowu. They are related legal entities of the company, and this offering constitutes a related transaction.